Highlights

  • The most tangible piece of news underpinning renewed interest is operational: LGI’s first-half FY26 results showed EBITDA up 33% and net profit after tax up 28% year-on-year, with.
  • LGI has also refreshed part of its senior team, appointing Cathy Montesin as joint company secretary effective 21 July 2026.
  • LGI, which listed on the ASX in October 2022, extracts and combusts biogas from landfill sites - converting a waste problem into renewable electricity and Australian Carbon Credit.
  • The full-year FY26 results on 21 August 2026 are the clear near-term catalyst, with the market likely to focus on whether EBITDA growth landed within the guided 25–30%.

LGI (ASX:LGI) reaches FY26 results with a cleaner Balance Sheet and a clearer growth test. First-half revenue, EBITDA and profit all increased, while a Capital raise removed Debt and gave the landfill-gas-to-energy operator more flexibility to fund its development pipeline. The company also expanded operating capacity and pointed to a larger prospective project base. That makes the upcoming full-year result important for two reasons: it should show whether the first-half Earnings acceleration persisted, and whether the debt-free Capital Structure can support growth without requiring another near-term raise.

Recent Developments

LGI has also refreshed part of its senior team, appointing Cathy Montesin as joint company secretary effective 21 July 2026. Montesin brings more than 30 years of experience working with ASX-listed companies, and she takes over from Dean Wilkinson, who retired from the company secretary role on the same date. While not a headline-grabbing announcement, changes of this kind are sometimes read by governance-focused investors as part of a broader maturation process for a company that has grown quickly since listing.

Why It Matters

The most tangible piece of news underpinning renewed interest is operational: LGI’s first-half FY26 results showed EBITDA up 33% and net profit after tax up 28% year-on-year, with revenue reaching AUD 20.3 million, a 20% increase on the prior corresponding period. Management attributed the growth to strength across the company’s biogas, electricity and ACCU segments, alongside improving margins. Crucially, the company also completed a capital raise that eliminated debt from the balance sheet - a meaningful de-risking event for a Business that has historically funded expansion partly through borrowings.

LGI sits at the intersection of two structural tailwinds: Australia’s push to reduce landfill methane emissions, and the ongoing Demand for verified carbon credits and renewable electricity. As a specialist operator with an established base of landfill gas capture infrastructure, the company has a genuine first-mover advantage in a niche that is not easy for new entrants to replicate quickly, given the long-term contracts typically required with landfill owners.

Cash Flow remains central to funding capacity.

Free Cash Flow will help determine financial flexibility.

Supply conditions remain relevant to pricing and project economics.

Company Overview

LGI, which listed on the ASX in October 2022, extracts and combusts biogas from landfill sites - converting a waste problem into renewable electricity and Australian Carbon Credit Units (ACCUs). It’s a niche, capital-intensive business, and one that isn’t widely covered by major brokers, which helps explain why the stock can swing sharply on relatively modest volumes.

Financial Snapshot

LGI, which listed on the ASX in October 2022, extracts and combusts biogas from landfill sites - converting a waste problem into renewable electricity and Australian Carbon Credit Units (ACCUs). More recently, though, the shares have shown signs of stabilising, with an intraday bounce of close to 4% seen in one recent session. The most tangible piece of news underpinning renewed interest is operational: LGI’s first-half FY26 results showed EBITDA up 33% and net profit after tax up 28% year-on-year, with Revenue reaching AUD 20.3 million, a 20% increase on the prior corresponding period.

What to Watch

The full-year FY26 results on 21 August 2026 are the clear near-term catalyst, with the market likely to focus on whether EBITDA growth landed within the guided 25–30% range, the trajectory of the 56MW development pipeline, and any updated guidance for FY27. Beyond that, ACCU price movements and any new landfill gas contract wins would be worth monitoring as ongoing indicators of the growth pipeline’s health.

Risks

LGI’s forward earnings multiple remains well above the renewable energy sector average, meaning any disappointment relative to the 25–30% EBITDA growth guidance could trigger a sharp de-rating - precisely the dynamic that appears to have driven the stock down over the past year. The business is also exposed to ACCU pricing, which can be volatile and subject to policy shifts, and to the pace at which new landfill and biogas projects can be commissioned, which is not entirely within management’s control.

What Could Keep LGI's Growth Rate Intact

LGI’s recent share price bounce comes against a backdrop of genuinely strong first-half operational growth and a balance sheet that has been strengthened by a debt-eliminating capital.