• Underlying EBITDA up 7.6% to $1,092 million
• Statutory profit after tax up 179.4% to $95 million
• Free cash flow up 0.7% to $556 million

APA Group delivered a strong financial performance in the first half of FY26, with underlying EBITDA increasing by 7.6% to $1,092 million, driven by contribution from new assets, inflation-linked tariff escalation, and benefits from enterprise-wide cost reduction initiatives. Statutory profit after tax was up 179.4% to $95 million, primarily due to the contribution from new assets, inflation-linked tariff escalation, and lower net interest and finance costs as a result of foreign exchange gains on debt held. Free cash flow increased by 0.7% to $556 million, due to increased earnings from underlying EBITDA, lower stay-in-business capital expenditure, offset by higher interest and tax payments during the period and one-off working capital timing impacts following a change in payments terms under the Transitional Services Agreement with the divested Networks business. The Energy Infrastructure segment, which includes APA's gas transmission and storage assets, renewable and gas-fired electricity generation assets, and the Basslink electricity transmission asset, saw segment revenue (excluding pass-through revenue) increase by 3.7% to $1,333 million, and underlying EBITDA increase by 6.4% to $1,115 million. The Asset Management segment saw segment revenue (excluding pass-through revenue) increase by 1.6% to $64 million, and underlying EBITDA decrease by 3.0% to $32 million. Earnings from Energy Investments remained in line with the prior period at $15 million.

APA Group expects to maintain its distribution per security of 27.5 cents for the full year FY26, representing a 1.9% increase over the previous year.