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Business Description: AGL Energy Limited (AGK) controls Australia's largest natural gas and electricity and dual fuel customer base supplying over 3.2 million customer accounts. In addition AGK has substantial long term gas supply contracts, a growing portfolio of upstream coal seam gas reserves and utilises the derivative markets.
Strategy Analysis: AGK is rebuilding and redefining itself after a management upheaval in 2006. The focus is on developing and driving an integrated strategy balancing risk between upstream supply and retail markets which provides access to multiple profit pools. Upstream supply is focused on gas production involving equity gas, contract gas, transmission and haulage contracts and gas storage. Electricity generation comes from thermal/coal fired power stations and renewable involving wind, hydro, geothermal, landfill and biomass. In the diverse and significant retail markets AGK has market leadership supported by significant economies of scale, a robust and efficient customer service platform, long standing sales and marketing capability, wide experience in effectively managing its regulatory environment and sound risk management. Key strategic initiatives include: Retail - the maintenance of an industry leading retail cost model and continued investment in the brand and competitive capability. Upstream - growth in renewables; growth in generation; and gas portfolio management and investment. Organisational capability includes re-shaping the asset base; the restructure of the balance sheet; and building a high performance culture throughout the group. Project Phoenix is designed to lift overall customer service and improve cash collection.
AGL Energy reported NPAT up 56.9% to $558.7m for the year ended 30 June 2011. This result included costs of $27.3m after tax treated as significant items and a gain of $154.9m after tax from the changes in the fair value of financial instruments. Excluding these items, the underlying profit was $431.1m, up 0.5% on the pcp. Revenues from ordinary activities were $7.07bn, up 7% from last year. Basic and Diluted EPS was 122.3 cents compared to 79.2 cents last year. Net operating cash flow was $569.3m compared to $390.0m last year. The final dividend declared was 31 cents, taking the full year dividend to 60 cents compared with 59 cents last year.
The Age 7/02/2012 | ISRAEL'S Foreign Minister was headed for Washington overnight amid signs that the US and its Middle East ally hold diverging views on how best to resolve the standoff over Iran's disputed nuclear program.
Sydney Morning Herald 7/02/2012 | There will be fewer love hearts and boxes of chocolates this Valentine's Day for the short-lived chief executive of Perpetual Limited, Chris Ryan.
Sydney Morning Herald 7/02/2012 | HOTEL owners and operators are preparing for a busy year of openings and renovations as demand increases from domestic travellers.
The Age 6/02/2012 | AUSTRALIA has a reputation for embracing technological developments quickly. We had a record take-up of VHS, DVD and widescreen television, and it is widely claimed that the Land of Oz has more home theatres per head of population than anywhere else in the world.
Sun Herald 5/02/2012 | INVESTORS cheered during the week, perhaps convinced that the latest rearrangement of deckchairs on the good ship euro will do the trick and right the heavily listing vessel.
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