Key Highlights

  • Net Revenue increased 17% to $39.8 million, while statutory and underlying EBITDA rose 26% to $21.8 million.
  • Statutory and underlying NPAT increased 35% to $8.8 million, with the underlying EBITDA Margin rising to 55%.
  • Biogas flows increased 33% to 170.2 million cubic metres, renewable electricity generation rose 29% to 140.8 GWh, and ACCU creation increased 18% to approximately 584,000 units.
  • The fully franked FY26 Dividend increased 4% to 2.6 cents per share, while LGI's Debt Facility expanded 66% to $82.5 million.

LGI Limited (ASX:LGI) shares were trading at $2.40 on 21 August 2026 at 10:18am, down 2.44%, or $0.06, as the renewable energy and carbon abatement company released its FY26 results. LGI reported higher revenue, EBITDA and NPAT for the year ended 30 June 2026, supported by increased biogas recovery, renewable electricity generation and Australian Carbon Credit Unit (ACCU) creation.

Revenue Growth Across Core Activities

LGI's net revenue increased 17% to $39.8 million in FY26. Growth was supported by higher contributions from Renewable Large Generation Certificates and ACCUs, which increased 40% and 30%, respectively, from the prior corresponding period. Together, these sources accounted for approximately 61% of FY26 net revenue.

The company also reported a realised electricity price of $97.28 per megawatt-hour, approximately 35% above the average Australian Energy Market Operator price. LGI said its hedging program, operational decisions and 24/7 dispatch through its proprietary DACS platform helped manage electricity-market volatility.

Earnings Increase as Volumes Expand

Statutory and underlying EBITDA increased 26% to $21.8 million, within the company's previously stated guidance range of $21.7 million to $22.6 million. Underlying EBITDA margin increased to 55%, up 355 basis points from FY25.

Statutory and underlying EBIT rose 18% to $12.9 million, while statutory and underlying NPAT increased 35% to $8.8 million. The Earnings growth occurred alongside higher volumes across LGI's Operating Activities and efficiencies associated with greater scale.

The company's operational performance included a 33% increase in biogas flows to 170.2 million cubic metres. Renewable energy generation increased 29% to 140.8 GWh, while ACCU creation rose 18% to approximately 584,000.

Portfolio Expansion Broadens Growth Pipeline

LGI added three new sites to its portfolio during FY26, representing 9% year-on-year growth in contracted sites. The company also expanded its carbon abatement footprint by eight sites, including six greenfield locations requiring new flares and pipework.

The expansion is occurring alongside Investment in flexible generation and storage capacity. Construction of LGI's Canberra 12MW/24MWh battery installation and site upgrades was completed during FY26, with final commissioning underway. Once operational, the project is expected to increase LGI's capacity under management to 33MW.

Construction also commenced on the 12MW/24MWh Belrose standalone battery project. Delivery of balance-of-plant equipment is scheduled by the end of calendar 2026, with the project targeted for grid connection during FY27. If operational, LGI expects its capacity under management to reach 45MW.

Debt Facility Expands

LGI renegotiated its debt facility during FY26, increasing the total limit to $82.5 million, a 66% increase. The expanded facility provides additional funding capacity as the company progresses its generation and carbon-abatement pipeline.

The company completed a $56.3 million Capital raising in October 2025. LGI said the funds enabled expansion of its High Conviction Project pipeline beyond 80MW of capacity.

Other projects also remain under development. The Toowoomba site is scheduled to expand from 1MW to 2MW during FY27, while work continues at Nowra and other projects progressing through development approvals and grid-connection processes.

Dividend and FY27 Outlook

LGI paid a fully franked total dividend of 2.6 cents per share for FY26, comprising an Interim Dividend of 1.25 cents and a final dividend of 1.35 cents. The total dividend was 4% higher than FY25.

For FY27, LGI expects ACCU volumes to grow at a compound annual rate of approximately 10% over the next three years. The company is also continuing to develop its flexible generation and storage pipeline beyond 80MW.

The outlook remains linked to the development and commissioning timetable of new projects, as well as electricity and environmental-product markets. LGI's FY26 results demonstrate higher operating volumes, although future growth will depend on converting its development pipeline into operating capacity and maintaining revenue from its environmental products and renewable generation activities.

Conclusion

LGI's FY26 results show increases across revenue, earnings and its principal operating metrics. Net revenue rose 17%, EBITDA increased 26%, and NPAT advanced 35%, while renewable generation and ACCU creation also recorded double-digit growth. The dividend increased 4%, although the company is simultaneously expanding its debt facility and investing in new generation and storage assets. With Canberra progressing toward commissioning, Belrose under construction and a development pipeline exceeding 80MW, FY27 will place greater emphasis on converting these projects into operating capacity and extending the Volume growth achieved during FY26.