Also trades as: APAJF (OTC) · $vol 0M

A$10.64 ($7.40)

+0.06 (+0.52%)

Weekly Expected Move ±1.8%

A$10 A$10 A$11 A$11 A$11

ASX · Utilities · Regulated Gas · Tech Score Neutral · Power 42 · A$14.1B mcap · 1.31B float · 0.221% daily turnover

Revenue

$3.0B -4.8% ▼

5Y CAGR: +3.1%

Gross Profit

$1.1B +13.4% ▲

5Y CAGR: +4.2%

Operating Income

$1.1B +9.2% ▲

5Y CAGR: +5.3%

Net Income

$234M +136.4% ▲

EPS (Diluted)

$0.16 +109.4% ▲

EBITDA

$2.2B +12.2% ▲

5Y CAGR: +9.9%

View Full Income Statement

Line Item	FY2022	FY2023	FY2024	FY2025	FY2026
Revenue	$2.7B	$2.8B	$3.0B	$3.1B	$3.0B
YoY Growth	+5.0%	+5.2%	+6.9%	+3.8%	-4.8%
Cost of Revenue	$1.8B	$1.9B	$253M	$2.1B	$1.9B
Gross Profit	$911M	$947M	$2.8B	$1.0B	$1.1B
Gross Margin	33.8%	33.4%	92.8%	31.8%	37.9%
R&D Expenses	$0	$0	$0	$0	$0
SG&A Expenses	$24M	$82M	$470M	$544M	$0
Operating Expenses	$12M	$74M	$470M	$2.1B	$0
Operating Income	$899M	$873M	$915M	$1.0B	$1.1B
Operating Margin	33.4%	30.8%	30.2%	33.0%	37.9%
Interest Expense	$482M	$476M	$624M	$702M	$698M
Income Before Tax	$413M	$454M	$1.1B	$247M	$400M
Tax Expense	$180M	$190M	$75M	$118M	$166M
Net Income	$231M	$263M	$978M	$99M	$234M
Net Margin	8.6%	9.3%	32.3%	3.1%	7.8%
EPS (Diluted)	$0.20	$0.22	$0.77	$0.08	$0.16
EBITDA	$1.7B	$1.7B	$2.6B	$1.9B	$2.2B
Shares Outstanding	1.18B	1.18B	1.27B	1.30B	1.32B

Line Item	FY2023 Q2	FY2023 Q4	FY2024 Q2	FY2024 Q4	FY2025 Q2	FY2025 Q4	FY2026 Q2	FY2026 Q4
Revenue	$1.5B	$1.4B	$1.5B	$1.5B	$1.6B	$1.6B	$1.6B	$1.4B
Cost of Revenue	$914M	$973M	$1.0B	$1.1B	$65M	$1.1B	$1.0B	$831M
Gross Profit	$574M	$429M	$491M	$1.4B	$1.6B	$485M	$572M	$562M
Gross Margin	38.6%	30.6%	32.7%	90.3%	96.0%	30.8%	35.8%	40.3%
R&D Expenses	$0	$0	$0	$0	$0	$0	$0	$0
SG&A Expenses	$31M	$51M	$232M	$238M	$258M	$286M	$0	$0
Operating Expenses	$31M	$51M	$20M	$238M	$258M	$1.9B	$0	$0
Operating Income	$543M	$378M	$491M	$433M	$1.3B	$485M	$572M	$562M
Operating Margin	36.5%	26.9%	32.7%	28.0%	80.1%	30.8%	35.8%	40.3%
Interest Expense	$260M	$258M	$290M	$0	$337M	$337M	$364M	$361M
Income Before Tax	$294M	$160M	$1.1B	-$59M	$83M	$164M	$172M	$228M
Tax Expense	$114M	$76M	$71M	$4M	$49M	$69M	$77M	$89M
Net Income	$179M	$84M	$1.0B	-$64M	$18M	$81M	$81M	$139M
Net Margin	12.0%	6.0%	69.3%	-4.1%	1.1%	5.1%	5.1%	10.0%
EPS (Diluted)	$0.15	$0.07	$0.83	$-0.05	$0.01	$0.06	$0.06	$0.10
EBITDA	$893M	$787M	$1.9B	$905M	$991M	$1.0B	$1.1B	$1.1B
Shares Outstanding	1.18B	1.18B	1.25B	1.29B	1.29B	1.30B	1.30B	1.32B

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