Australia · Delayed Price · Currency is AUD Santos Earnings Call Transcripts
Fiscal Year 2026
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The meeting highlighted strong financial results, major project milestones, and a focus on safety, sustainability, and shareholder returns. Shareholders raised questions on energy transition, project risks, and community engagement, with all resolutions passed and ongoing commitment to governance and growth.
Fiscal Year 2025
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Strong 2025 results were achieved despite lower commodity prices, with record safety, increased production, and major project delivery. Cost discipline, robust cash flow, and a focus on LNG and CCS position the business for growth, with strategic reviews and capital returns ongoing.
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Strong H1 2025 results featured $2.6B revenue, $1.1B free cash flow, and major project milestones, with Barossa and Pikka on track to boost production by 30% by 2027. Gearing remains within target, and the XRG bid process was extended with shareholder protections.
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The AGM highlighted strong 2024 financials, major project progress, and a new cost reduction program. Shareholders approved all resolutions, and management reaffirmed commitments to emissions reduction, Indigenous engagement, and returning capital post-Barossa and Pikka.
Fiscal Year 2024
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Strong 2024 results with $5.4B revenue, $1.2B profit, and robust cash flow, driven by disciplined operations and major project progress. Production is set to rise over 30% by 2027, with Barossa and Pikka on track, and LNG demand outlook remains favorable.
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A new capital allocation framework prioritizes sustainable shareholder returns, disciplined capital spending, and all-in free cash flow, with at least 60% of free cash flow returned to shareholders. Major projects like Barossa and Pikka are nearing completion, Moomba CCS is operational, and the portfolio is positioned for long-term growth and decarbonization.
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Strong H1 2024 results with $2.7B revenue, $1.1B free cash flow, and $654M profit. Major projects (Moomba CCS, Barossa, Pikka) progressing, with Barossa and Pikka set to boost future cash flows. Cost increases driven by weather and inflation, but initiatives underway to offset.