Investor Presentaiton
EBITDA by segment
Energy Infrastructure
East Coast
$m
645
646
-0.2%
East Coast (excluding Orbost)
$m
646
621
4.0%
West Coast
$m
305
289
5.5%
Wallumbilla Gladstone Pipeline(2)
$m
620
578
7.3%
Electricity Generation and Transmission
$m
223
194
14.9%
Total Energy Infrastructure
$m
1,793
1,707
5.0%
Asset Management
$m
56
73
-23.3%
$m
23
28
-17.9%
Corporate Costs
$m
(147)
(116)
-26.7%
EBITDA growth driven by Energy Infrastructure segment
Energy Investments
FY23
FY22 % Change(1)
•
FY23 Key drivers
Underlying EBITDA up 2% (up 4% excluding Orbost)
East Coast broadly flat (up 4% excluding Orbost) benefitting from inflation linked
tariffs, the new VTS access arrangement and some favourable short-term
contracting. This was offset by the divestment of Orbost, Young Lithgow repairs
and growth in other costs including those associated with our emissions reduction
program
WGP up 7% driven by inflation, partly offset by FX
Electricity Generation and Transmission up 15% driven by a $29m contribution
from Basslink (acquired October 2022). Inflation benefits were offset by lower
operating revenue from Diamantina Power Station and Badgingarra
Renewables as well as costs associated with business development capability
Asset Management down 23% driven by lower customer contributions and a higher
proportion of lower margin activities
•
Energy Investments down 18% due to a lower SEAGas contribution
Underlying EBITDA (3)
$m
1,725
1,692
2.0%
Orbost EBITDA (sale completed 28 July 2022)
$m
(1)
25
n.m.
Corporate costs up 27% with investment in capability to support growth initiatives
and business resilience
Underlying EBITDA (excluding Orbost)(4)
$m
1,726
1,667
3.5%
(1) Positive/negative changes are shown relative to impact on profit or other relevant performance metric; n.m. = not meaningful.
(2) Wallumbilla Gladstone Pipeline is separated from East Coast Grid in this table as a result of the significance of its revenue and EBITDA in the Group. It is categorised as part of the East Coast Grid cash-generating unit for impairment assessment purposes.
(3) Underlying earnings before interest, tax, depreciation, and amortisation (EBITDA) excludes recurring items arising from other activities, transactions that are not directly attributable to the performance of APA Group's business operations and significant items.
(4) Underlying FY23 EBITDA excluding the earnings from Basslink and the Orbost Gas Processing Plant was up 1.8% to $1,697m (FY22: $1,667m).
apa
APA FY23 Results Investor Presentation
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