Beach Energy recorded a net profit of A$281.4 million for the year ended June 30, 2026—a 742% increase year-on-year—despite declines in revenue and underlying profit.
Revenue from core operations fell by 9% to A$1.92 billion. Annual production totaled 19.4 million barrels of oil equivalent, constrained by flooding in the Cooper Basin and reduced productivity in the Otway Basin. The company partially offset this impact by increasing its average realized gas price by 7%—to A$11.5 per gigajoule—driven by a targeted gas marketing strategy.
Underlying net profit after tax dropped 21% to A$354.8 million, while field operating costs decreased by 3% to A$244 million. The sharp rise in statutory net profit is attributable to a low base of comparison from the previous year.
The Board declared a final fully franked dividend of 2.0 Australian cents per share, bringing the total annual payout to 3.0 cents, up from 2.0 cents the previous year. Total ordinary dividends rose to A$159.6 million from A$114.1 million. Net tangible assets per share increased to A$1.41 from A$1.36. During the year, Beach completed the sale of the VIC/L35 license in the Otway Basin, freeing up over A$500 million in short-term capital for reallocation to higher-return projects while retaining a production royalty. Net gearing stood at 10.6%, with available liquidity of A$983 million.
For the 2027 financial year, the company forecasts production in the range of 19.5 to 23.0 million barrels of oil equivalent and capital expenditure of between A$600 million and A$700 million.
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