Update to FY23 Earnings Guidance and FY24 Earnings Guidance AGL has narrowed its underlying earnings ranges for FY23 as follows:
- Underlying EBITDA between $1,330 and $1,375 million (previous guidance was between $1,250 and $1,375 million); and
- Underlying Profit after tax between $255 and $285 million (previous guidance was between $200 and $280 million). These ranges reflect an improved second half, in line with expectations, driven by increased generation due to improved plant availability and a reduction in forced outages, and higher customer margin due to disciplined margin management and an increase in customer services. This is partly offset by higher operating costs (excluding depreciation and amortisation) due to increased maintenance costs, seasonal net bad debt expense and the impact of inflation.
Additionally, AGL has provided guidance for its FY24 underlying earnings, as follows:
- Underlying EBITDA of between $1,875 and $2,175 million; and Underlying Profit after tax between $580 and 780 million.
