Daily Roundup

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Aussie Broadband Expands Footprint with AGL Telco Acquisition

Aussie Broadband has made a strategic move, signing an agreement to acquire the telecommunications business of AGL Energy. This acquisition will add an estimated 350,000 broadband and mobile connections to Aussie Broadband's customer base, solidifying its position as a major player in the Australian telecommunications market.

Importantly, the two companies have also entered a long-term exclusive partnership to drive continued growth. Aussie Broadband will leverage its network infrastructure and customer service expertise, while AGL's strong brand and existing customer base will provide a solid foundation for expansion.

The agreement is expected to deliver around $235 million in revenue and $21 million in underlying EBITDA in the 12 months following the migration completion. Aussie Broadband aims to grow the AGL Telco connections (excluding voice services) to over 500,000 within five years.

CSL Reports Mixed Half-Year Results, Maintains Guidance

CSL has reported its half-year results, with revenue down 4% at constant currency to $8.3 billion and underlying NPATA down 7% to $1.9 billion. The performance was impacted by government policy changes and one-off restructuring costs.

Despite the challenges, CSL's transformation program is progressing well, delivering value through organizational simplification and growth investments. The company has maintained its full-year guidance, expecting revenue growth of around 2-3% and NPATA growth of 4-7%, excluding one-off costs.

Looking ahead, CSL is optimistic about its second-half performance, driven by growth in immunoglobulin, albumin, and newly launched products. The company has also expanded its share buyback program to $750 million, reflecting its strong balance sheet and cash flows.

Southern Cross Electrical Engineering Secures $75 Million in New Contracts

Southern Cross Electrical Engineering (SCEE) has announced the award of $75 million in new contracts, further strengthening its position across diverse sectors and geographies. The contracts include a two-year agreement with CITIC Pacific Mining, additional data center works with Taylor Construction Group, and the main electrical package for the new Canberra Lyric Theatre.

These awards demonstrate the geographic diversity of SCEE and the breadth of sectors it operates in, with many of the packages being repeat work for existing clients, highlighting the quality of the company's delivery.

Santos Releases 2025 Reserves Statement, Provides Additional Guidance

Santos has released its 2025 Annual Reserves Statement, reporting proved plus probable (2P) reserves of 1,484 million barrels of oil equivalent (mmboe) at the end of 2025. This represents an increase of 13 mmboe before production, driven primarily by additions in the Cooper Basin and PNG assets.

The company also provided additional guidance on its 2025 full-year results, including expected revenue, cost of sales, impairment losses, and other financial metrics.

Commonwealth Bank of Australia Delivers Solid Half-Year Results

The Commonwealth Bank of Australia (CBA) has reported a solid 2026 half-year performance, with a 6% increase in cash net profit after tax (NPAT) and a 5% increase in statutory NPAT.

CBA delivered record domestic lending and deposit volume growth, maintaining stable margins in a highly competitive environment. The bank deepened customer relationships, driving strong transaction balance growth across all core segments, and maintained a strong capital position to support franchise growth and dividends.

Looking ahead, CBA expects inflation to remain above the Reserve Bank's target band, placing further upward pressure on interest rates. The bank will continue to support its customers and invest in technology and frontline teams to enhance customer experiences and combat emerging threats.