Full Year 2026 Amplitude Energy Limited Earnings Call Transcript
Key Points
- Record production of 27.6 petajoules equivalent and record sales revenue of $285.8 million in FY26.
- Underlying EBITDAX increased 12% to $191.8 million, with a strong margin of around 67%.
- Unit production costs fell to a record low of $2.07 per gigajoule, driven by operational improvements at Orbost.
- Net debt reduced by over $200 million in FY26, leaving a strong balance sheet with substantial liquidity.
- ECSP project on track for first gas in 2028, with foundation offtake contracts secured and FEED complete.
- Successful acquisition of 50% interest in Artisan strengthens ECSP resource base and reduces CO2 blending needs.
- Orbost plant operating above nameplate capacity, with production downtime and absorber cleans significantly reduced.
- Continuous improvement program delivered $13.4 million in annualized cash flow improvements in FY26.
- Strong safety record with zero lost time injuries and no reportable environmental incidents.
- Gas demand outlook positive, with ECSP positioned to benefit from growing electricity demand and coal retirements.
- First exploration well (Isabella/Elanora) did not deliver commercial outcomes, leading to a circa $100 million pre-tax write-off.
- FY27 production guidance is slightly lower than FY26 actuals, reflecting planned maintenance and natural decline.
- FY27 capital expenditure guidance is significantly higher at $250-$310 million, largely due to ECSP drilling and long lead items.
- Uncertainty around the domestic gas reservation policy could impact investment certainty and project economics.
- Nestor drilling decision is deferred pending Juliet results, adding uncertainty to future growth potential.
- Cooper Basin production was impacted by natural decline and first-half flooding, reducing oil revenue.
- Planned statutory shutdown at Orbost in FY27 will increase production expenses and reduce output.
- ERP system replacement will incur $6-$7 million in costs, with benefits only realized in subsequent years.
- Patricia Baleen restart project requires significant subsea and plant modifications, with costs split over time.
- Contingent resources at Sole require additional drilling to access, with no firm plans in place.
Good day and welcome to Amplitude Energy Limited FY26 full year results webcast. (Operator Instructions) And finally, I would like to advise all participants that this call is being recorded. Thank you. I'd now like to welcome Jane Norman, Managing Director and Chief Executive Officer, to begin the conference. Jane, over to you.
Thank you. Good morning and thank you for joining us for Amplitude Energy's FY26 full year results. This is Jane Norman, and I'm joined today by Chief Financial Officer, Ian Bucknell; and Chief Operating Officer, Chad Wilson. Today's presentation and announcement were released to the ASX this morning and are available on the Amplitude Energy website. The webcast is being recorded and will be available on our website later today. Please note the disclaimer on slide 2 before moving to slide 3.
I'll start today by reflecting on our accomplishments through FY26 before moving to an in-depth review of the financial year in the next
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
