Telstra Group (TLS) AGM 2026 summary

Financial performance review

• FY26 EBITDAAL was $8.2b, up 3.0%; EBIT was $4.0b, up 1.7%; and NPAT was $2.4b, up 2.7%.

• Underlying EBITDAAL reached $8.3b, up 4.0%; cash EBIT was $4.7b, up 8.0%; and underlying NPAT was $2.5b, up 4.9%.

• ROIC was 8.8%, up 0.3 points; underlying ROIC was 9.0%, up 0.5 points. EPS was 19.9cps, up 5.3%; cash EPS was 25.5cps, up 14%.

• Underlying EBITDA grew 3.4% YoY, with a 6% CAGR from FY21 to FY26 and a fifth consecutive year of underlying earnings growth; mobile services revenue rose 4.8%, and mobile handheld users increased 274,000, or 1.9%.

• Cash EPS growth was supported by tight cost control and growth across mobile, fixed and infrastructure services; the Chair cited capital discipline and a share buy-back supporting shareholder returns.

Board and corporate governance

• Holly Kramer joined the Board; the Board regularly reviews whether its skills match strategy and evolving risks, including the need for AI expertise.

• AGM business included director elections and re-elections, CEO equity allocation and consideration of the Remuneration Report.

• An external expert review found the network outage should have received higher priority; the Chair said the response and network-strengthening work were being taken seriously.

• Serious AI use cases require cybersecurity-team sign-off, a control the Chair said can slow adoption.

Shareholder proposals

• A shareholder asked the Board to move to annual director elections, citing other large listed companies as examples.