Highlights:

BPT reported FY25 underlying NPAT of AUD 451 million, up 32% year-on-year.

Beach Energy declared a record fully franked final dividend of 6.0 cents per share.

The company posted a 13% increase in sales revenue to AUD 2.0 billion in FY25.

Beach Energy Ltd (ASX:BPT) shares rose 4.4% to AUD 1.19 in early Monday trading, outperforming the S&P/ASX 200 Index, which was down 0.2% at the same time. The movement follows the release of the company’s full-year financial results for FY25 and a record final dividend declaration. Based in Adelaide, Beach Energy is an oil and gas exploration and production company with operations spanning the Cooper Basin, Otway Basin, Perth Basin, and offshore Victoria. It supplies gas to both domestic and international markets and is listed on the S&P/ASX 200 Index.

The company reported a 16% year-on-year increase in sales volumes to 24.7 million barrels of oil equivalent (MMboe). Full-year sales revenue increased by 13% to AUD 2.0 billion. Underlying EBITDA rose 20% to AUD 1.1 billion, and underlying net profit after tax (NPAT) increased 32% to AUD 451 million. Beach reported a non-cash impairment charge of AUD 474 million after tax, largely attributed to lower near-term commodity prices. This was previously disclosed on Thursday, which saw shares decline 9.3% on the day. However, the market appeared to respond positively to the broader set of results released on Monday, with a particular focus on cash generation and dividends.

The company generated AUD 657 million in pre-growth free cash flow for the year, enabling the declaration of a record fully franked final dividend of 6.0 cents per share, an increase of 200% compared to the prior year’s final dividend. The stock will trade ex-dividend on 28 August, with payment scheduled for 30 September. Liquidity at the end of FY25 stood at AUD 652 million, while net gearing was reported at 10%.

Chief Executive Officer Brett Woods highlighted that the year was one of “transformational change” for Beach, with the company delivering on key operational milestones. Beach supplied 19% of East Coast gas demand through its operated and non-operated assets. On the emissions reduction front, Woods noted the commissioning of the Moomba Carbon Capture and Storage (CCS) project in the Cooper Basin. According to the company, the project has safely injected and stored over one million tonnes of CO₂ equivalent, which it equates to removing approximately 400,000 vehicles from Australian roads.

Looking ahead, Beach aims to complete the ramp-up of the Waitsia Gas Plant, which will supply gas to both the West Coast domestic market and the LNG export market. The company also plans to advance its Equinox rig campaign in offshore Victoria, targeting gas supply to the East Coast from 2028. FY26 production guidance is set between 19.7 MMboe and 22.0 MMboe. Capital expenditure is forecast between AUD 675 million and AUD 775 million, while abandonment expenditure is expected to range from AUD 200 million to AUD 250 million.