Half Year 2021 AGL Energy Ltd Earnings Call Transcript
Thank you for standing by, and welcome to the AGL Energy Half Year Results 2021 Investor Briefing Conference Call. (Operator Instructions)
I would now like to hand the conference over to CEO, Mr. Brett Redman.
Good morning, everyone. This is Brett Redman speaking. Thanks for joining us for the webcast of AGL's half year results for financial year 2021. I'm joined today by our CFO, Damien Nicks; Chief Customer Officer, Christine Corbett; and Chief Operating Officer, Markus Brokhof. We will have time for all your questions at the end of the presentation.
The results that we're announcing today reflect the sharp decline in wholesale prices for electricity and renewable energy certificates, lower gross margins in wholesale gas and costs to support our operational and customer response to the COVID-19 pandemic.
Underlying EBITDA of $926 million was down 13%, while underlying NPAT of $317 million was down 27%, reflecting the
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