AGL Energy shares dropped following its FY2022 results

AGL Energy Limited (ASX: AGL) has released its FY2022 results for the period ended 30 June 2022 and reported 58% drop in underlying profit after tax to AU$225 million.

• Statutory Profit after tax for the period was AU$860 million.
• Underlying EBITDA slipped 27% to AU$1,218 million compared to the previous corresponding period (pcp).
• Total generation volume stood at 40,755 GWh and was broadly flat on pcp.
• Board declared an unfranked final dividend of 10 cents.
• Over AU$150 million of targeted operating cost reductions delivered in FY2022. It is on track to deliver AU$100 million of sustaining capital expenditure reductions by the end of FY2023.

At AEST 10:30 AM, AGL shared are trading at AU$7.850, down 3.799% from the previous close. 

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