London · Delayed Price · Currency is GBP · Price in GBX Energean Earnings Call Transcripts
Fiscal Year 2026
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Strong H1 results with free cash flow up 36% and profit after tax up 45% year-over-year, despite a production shutdown in Israel. Egypt concession merger unlocks improved terms and investment, while Katlan project remains on track for H1 2027 first gas. Leverage to decline post-Katlan.
Fiscal Year 2025
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Operations in Israel were suspended due to conflict, but financial resilience is strong with $1.8B revenue, $1.1B EBITDAX, and no near-term debt maturities. Growth continues via Angola, Egypt, and Greece, with Katlan on track for 2027, pending regional stability.
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Record production and resilient cash flows supported $800M in H1 revenue, despite disruptions in Israel. Guidance was revised to 145–155k boe/d, with strong contracted sales and disciplined capital management underpinning future growth and dividends.
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Record production and profitability were achieved in 2024, with $1.8 billion in revenue and $1.2 billion EBITDAX. Over $4 billion in new Israeli gas contracts were signed, and the Carlyle asset sale is set to close in Q1, supporting further growth and debt reduction. Continuing operations expect production above 120,000 boe/d in 2025.
Fiscal Year 2024
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Record 2024 results saw revenue up 25% to $1.78B and EBITDA at $1.16B, with production at 153,000 BOE/day. The Carlyle deal remains pending, impacting future guidance and dividend policy, but $600M in dividends have been paid and $1B remains the target.
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Record production and financial results driven by Israeli operations, with revenues up 47% and EBITDAX up 65% year-over-year. Asset sale to Carlyle will fund debt repayment and dividends, while disciplined capital allocation and strong market demand underpin a positive outlook.
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A major asset sale to Carlyle for up to $1 billion will strengthen the balance sheet, reduce liabilities, and enable a special dividend of up to $200 million. The company will focus on gas growth in Israel and Morocco, maintain disciplined capital allocation, and advance its net zero strategy.