News: AGL AGL Energy Says FY23 Underlying Ebitda Guidance Narrowed To Between A$1,250 To A$1,375...

Feb 9 (Reuters) - AGL Energy Ltd (AGL) :

• THE OUTLOOK BEYOND FY23 REMAINS POSITIVE
• FY23 GUIDANCE REFLECTS AN EXPECTED IMPROVEMENT IN SECOND HALF
• GUIDANCE RANGE FOR FY23 UNDERLYING EBITDA NARROWED TO BETWEEN A$1,250 TO A$1,375 MILLION
• GUIDANCE RANGE FOR FY23 UNDERLYING NET PROFIT AFTER TAX NARROWED TO BETWEEN A$200 TO A$280 MILLION
• FY23 CUSTOMER MARGIN IS EXPECTED TO IMPROVE DUE TO GROWTH IN CUSTOMER SERVICES
• FY23 OPERATING COSTS ARE FORECAST TO INCREASE HALF-ON-HALF DUE TO SEASONAL NET BAD DEBT EXPENSE AND INFLATION
• EXPECT TO HAVE HIGHER EARNINGS IN SECOND HALF OF FY23, IN LINE WITH GUIDANCE, AND CONTINUED POSITIVE MOMENTUM INTO FY24
• PATRICIA MCKENZIE CONFIRMED AS CHAIR
• CONCERNED THAT THE TEMPORARY DOMESTIC COMMODITY PRICE CAPS INCREASED REGULATORY INSTABILITY AND UNCERTAINTY
• DAMIEN NICKS AS MANAGING DIRECTOR AND CEO; GARY BROWN AS CFO
• TORRENS ISLAND AND BROKEN HILL BATTERIES ARE ANTICIPATED TO COMMENCE OPERATIONS IN MID-2023
• WHOLESALE ELECTRICITY PRICING ELEVATED VERSUS PRIOR PERIODS WITH CO TO BENEFIT AS HISTORICAL CONTRACT POSITIONS RESET IN FY24 AND FY25
• SUSTAINED PERIODS OF HIGHER WHOLESALE ELECTRICITY PRICES ARE EXPECTED TO FLOW THROUGH TO RETAIL PRICING OUTCOMES
• 1H23 TOTAL GENERATION VOLUMES 19.1 TWH, DOWN 7% ON 1H22