Daily Roundup

PME.ASX CBA.ASX BAP.ASX SEG.ASX AGL.ASX

Pro Medicus Lands Major U.S. Healthcare Contract

Pro Medicus has secured a significant seven-year deal worth A$23 million with St. Luke's Health System, Idaho's largest private employer. The contract covers the implementation of Visage 7 Enterprise Imaging Platform across St. Luke's 10 medical centers, with the system set to go live in Q1 2027. The cloud-based platform will include both Visage 7 Viewer and Workflow components, structured under a transactional licensing model that offers potential for additional revenue. The company's pipeline remains robust across all market segments, positioning it well in the industry's largest addressable market.

Commonwealth Bank Posts Strong FY26 Results

Commonwealth Bank of Australia delivered solid financial performance for the year ended June 30, 2026, with cash net profit after tax climbing 7% to $11 billion. Pre-provision profit rose 6% to $16.5 billion, while return on equity improved to 14.0%. The bank grew across all five core domestic product categories, maintaining its market-leading mortgage finance insured share of 34.2% in retail and 26.0% in business. Operating income expanded 6%, driven by customer and volume growth alongside a stable underlying net interest margin.

The bank declared a final dividend of $2.70 per share, fully franked, bringing the full-year dividend to $5.05 per share. The payout ratio of 77% sits comfortably within CBA's target range of 70-80%. Capital strength remains robust, with a Common Equity Tier 1 ratio of 12.0%, well above APRA's 10.25% minimum requirement. Looking ahead, CBA enters FY27 focused on deepening primary customer relationships, maintaining discipline in volume and margin decisions, and improving productivity through technology investments.

On the regulatory front, CBA's Basel III Pillar 3 disclosure shows the group maintains prudent buffers over minimum capital levels. The leverage ratio stood at 4.6%, while liquidity metrics came in strong at 132% for the Liquidity Coverage Ratio and 115% for the Net Stable Funding Ratio, both well above regulatory minimums.

AGL Energy Reports Solid FY26 Performance

AGL Energy delivered a strong year with statutory profit after tax reaching $756 million, a substantial jump from $112 million in FY25. Underlying EBITDA grew 2% to $2,100 million, while operating free cash flow surged 60% to $850 million. The company declared a fully franked final dividend of 26 cents per share, totaling 50 cents for the full year.

Looking to FY27, AGL expects underlying EBITDA between $1,900 and $2,200 million, with underlying net profit after tax guidance of $470 to $670 million. The company targets a dividend payout ratio of 55-60% of underlying net profit, expected to remain fully franked. AGL's outlook reflects stable consumer energy margins, full-year earnings from the Liddell Battery project, lower operating costs, and lower wholesale electricity prices through hedged positions. The company has also signed long-term power purchase agreements for 228 MW of renewable energy and divested its 19.9% stake in Tilt Renewables for $750 million.

Bapcor Confirms Guidance and Secures Financial Flexibility

Bapcor Limited confirmed its FY26 guidance with underlying EBITDA expected between $144 million and $150 million post AASB16, or $62 million to $68 million pre AASB16. The company also secured revised covenant arrangements with its lenders to support its operational turnaround. The new agreements increase the Net Leverage Ratio to 3.5 times adjusted EBITDA by end-2026, reverting to 3.0 times by mid-2027, while the Fixed Charge Cover Ratio decreases to 1.30 times adjusted EBITDA by mid-2027. This additional financial headroom provides Bapcor with the flexibility needed to execute its business reset.

SEG to Acquire New Zealand's MediaWorks

Sports Entertainment Group announced an agreement to acquire MediaWorks Topco Limited, New Zealand's leading audio business, for NZ$130 million (approximately A$107.4 million). The acquisition is expected to be materially accretive to SEG's earnings per share, increasing by 59% on a pre-synergies basis. The deal will create a leading trans-Tasman audio, digital, and entertainment group with a combined weekly audience exceeding 5 million listeners across Australia and New Zealand. The acquisition will be funded through existing cash reserves and a new $87.6 million senior debt facility from Commonwealth Bank, with completion targeted for October 1, 2026. SEG requested a trading halt pending the formal announcement, which is expected by August 14, 2026.