Genesis Energy (GNE) investor relations material

Executive summary

• Gen35 strategy execution drove record gross margin of $949 million, up 10% year-over-year, with disciplined cost management and portfolio rebalancing.

• Normalised EBITDAF rose 11% to $522 million; reported EBITDAF up 14% to $518 million, reflecting margin quality and operational discipline.

• Net profit after tax declined 50% to $85 million, mainly due to lower mark-to-market derivative gains and revaluations.

• Operating free cash flow increased 24% to $322 million, supporting a $400 million equity raise and ongoing investment in renewables and technology.

• Strategic investments in digital transformation, renewables, and storage position the business for future growth.

Financial highlights

• Gross margin increased 10% to $949 million, with margin percentage rising to 34% from 23% year-over-year.

• Normalised EBITDAF reached $522 million; reported EBITDAF $518 million; operating expenses rose 4% to $377 million.

• Operating free cash flow was $322 million, with a 62% cash conversion ratio.

• Net debt reduced to $940 million; leverage improved to 1.6x Debt/EBITDAF.

• Dividend per share increased 4% to 14.88 cps; final dividend declared with DRP at 2.5% discount.

Outlook and guidance

• FY27 normalised EBITDAF guidance: $480–$520 million, assuming average hydrology and continued digital investment.

• Growth CapEx for FY27 expected up to $325 million, mainly for battery and solar projects.

• FY28 targets EBITDAF in the upper $500 million range, assuming stable market and regulatory conditions.

• FY32 growth plan aims for $650m–$750m EBITDAF, driven by electrification, renewables, and operational efficiency.

• Fixed dividend policy set through FY28; update expected at FY27 half-year.