Ann: FY22 Results Presentation, page-3

Great free cash flow generation and post 2023 higher wholesale prices will lift this substantially. Not a bad result about on par, i don't think the share price will roll over too much TBH.

OutlookAGL believes FY23 earnings will remain resilient amidst the current challenging energy industry and market conditions. This is underscored by the strength of AGL’s large and diversified customer base, low-cost baseload generation position supported by strong fuel supply arrangements, robust risk management, with prudent margin management ensuring retail strength and stability in a highly volatile market.

AGL is largely hedged for FY23 and well positioned from FY24 to benefit from sustained higher wholesale electricity pricing as historical hedge positions progressively roll-off.

FY23 guidance is expected to be provided in late-September as previously disclosed, in conjunction with the initial outcomes of the review of strategic direction.

Dividends and Capital ManagementAGL delivered net cash from operating activities of $1,227 million, down 2 percent on FY21 due to lower underlying EBITDA, partly offset by a strong working capital outcome driven by favourable creditor balances on the high June energy prices, a large inflow of margin calls compared to a small outflow in FY21, and effective management of coal and green inventories.

At 30 June 2022, AGL had over $609 million of cash and undrawn debt facilities available.

AGL has declared a final unfranked dividend for FY22 of 10 cents per share. The final dividend is consistent with AGL’s dividend policy to target a payout ratio of 75 percent of Underlying Profit after tax. The final FY22 dividend will be paid on 27 September 2022.

Given the status of the review of AGL’s strategic direction, the Board has determined that the Dividend Reinvestment Plan (DRP) will not operate for the final FY22 dividend. It is our intention to reinstate the DRP when circumstances allow.