TPC Consolidated (TPC) H2 2025 earnings summary

Executive summary

• Revenue grew 20.9% year-over-year to $193.1 million, driven by strong performance in electricity and gas segments.

• Net profit after tax fell 94.4% to $0.3 million due to extreme volatility in wholesale electricity prices and increased operating expenses.

• The company did not declare a final dividend for FY25, but paid a fully franked interim dividend of 20 cents per share.

• A proposed takeover by Wollar Solar Holding Pty Ltd remains pending, with regulatory approval extended to November 2025.

Financial highlights

• Underlying EBITDA dropped 63.4% to $3.7 million, reflecting margin pressure and higher costs.

• Gross profit and gain on sale of derivatives decreased 10.2% to $29.4 million.

• Net assets declined 13.1% to $29.5 million, impacted by negative fair value movement on derivatives and dividend payments.

• Cash and bank deposits increased 15.4% to $24.2 million, with $17.1 million held as security for bank facilities.

Outlook and guidance

• Management anticipates sustained growth in the energy business and expects to maintain profitability and cash flow in FY26.

• Strategic focus includes partnerships, acquisitions, and organic growth, with new initiatives to address ongoing market volatility.