News: AGL AGL FY Underlying Profit After Tax Attributable A$225 Mln

Aug 19 (Reuters) - AGL Energy Ltd (AGL) :

• DECLARES FINAL DIVIDEND/ORDINARY SHARE OF 10.0 AU CENTS
• FY UNDERLYING PROFIT AFTER TAX ATTRIBUTABLE A$225 MILLION VERSUS A$537 MILLION
• FY REVENUE A$13,221 MILLION VERSUS A$10,942 MILLION
• FROM FY24 AGL IS WELL POSITIONED TO BENEFIT FROM SUSTAINED HIGHER WHOLESALE ELECTRICITY PRICING AS HEDGE POSITIONS PROGRESSIVELY ROLL OF
• WILL REPORT INITIAL OUTCOMES OF REVIEW OF STRATEGIC DIRECTION IN LATE SEPTEMBER IN CONJUNCTION WITH FY23 GUIDANCE
• AGL IS LARGELY HEDGED FOR FY23
• SELECTION PROCESS FOR NEW CHAIR IS WELL ADVANCED AND EXPECT TO ANNOUNCE NEW CHAIR BEFORE 2022 AGM IN NOVEMBER
• AGL WILL REPORT INITIAL OUTCOMES OF STRATEGIC REVIEW IN LATE SEPTEMBER 2022 IN CONJUNCTION WITH FY23 GUIDANCE
• COMMENCED GLOBAL SEARCH FOR MD & CEO AND SEARCH PROCESS TO IDENTIFY POTENTIAL NEW NON-EXECUTIVE DIRECTORS ALSO WELL ADVANCED
• DETERMINED THAT DIVIDEND REINVESTMENT PLAN (DRP) WILL NOT OPERATE FOR FINAL FY22 DIVIDEND.
• WORKING TOWARDS OUR PREVIOUSLY ANNOUNCED CLOSURE DATES FOR BAYSWATER AND LOY YANG A POWER STATIONS
• BELIEVE CLOSURE OF COAL-FIRED POWER STATIONS WILL CONTINUE TO BE ACCELERATED