they wrote off 7.6 billion on electric car maker - Rivian... and retail sales and advertising have dropped to have a quarterly loss of 3.8b... which was a massive trigger on the SP...
previous quarter was a profit 2021 year was a profit of 197b 2020 year was a profit of 152b 2019 year was a profit of 145b
BUT
they also had a share split 20:1... so of course the SP will fall (divide 3 June price by 20 = new price)- this happened on the 3rd June 2022... just in case you didn't know.
"For every Amazon share that previously existed, 20 have taken its place. In turn, the price of each Amazon share has shrunk in proportion. One share of Amazon traded at $2,447 last Friday prior to the split, so dividing that number by 20 means the new share price is $122.35. But the market valuation of Amazon has remained the same, at $1.2 trillion, which makes the stock split entirely cosmetic."
AGL was headed for the ground as they have effectively no current plan on how they will source the electricity that is sourced from Liddell, Bayswater & Loy Yang as these coal plants retire (or break down - like we currently are experiencing). The BoD had all of those plans tied up in demerger... and clearly made plans available to holders only once they had decided on that path.
AGL may be the biggest retailer of energy - but if anything... the current NEM debacle confirms that the best way for a retailer to ensure they are able to make a profit from selling electricity - is to ensure that you have enough generation - and if that generation needs raw materials (coal & gas)... you better own a mine or a gas field or have a contract locking in the price - so for now AGL has this covered (until 2025).... OR build electricity generation that does not need such inputs - which can highly impact profitability.
If AGL gets taken over - no questions about it - it is because of the customer book... when AGL bought Bayswater and Lidell sooo many years ago - even then Lidell was sold to them at NIL value... you would find that Bayswater would also be valued near that price now... AGL - or whoever takes it over - have to build a new fleet of electricity generators to replace what is going to be missing.
If you aren't thinking that far ahead... perhaps you are looking at AGL in the wrong way - past dividend yields will not continue...
AGL Price at posting:
$8.34 Sentiment: Hold Disclosure: Held
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