TPC Consolidated (TPC) H1 2026 earnings summary

Executive summary

• Revenue for the half-year ended 31 December 2025 was $103.6 million, up 4.1% year-over-year, driven by growth in gas services.

• Underlying EBITDA rose 62.0% to $6.5 million, and underlying profit before tax increased 70.9% to $6.0 million compared to the prior period.

• Net profit after tax was $3.4 million, down from $4.7 million in the prior period, mainly due to a decrease in fair value movement on derivatives.

• A fully franked interim dividend of 20 cents per share was declared, totaling $2.27 million.

• The company maintained a robust balance sheet with $24.3 million in cash and bank deposits at period end.

Financial highlights

• Gross profit and gain on sale of derivatives increased 24.9% to $20.9 million, with gross margin rising from 14.6% to 20.1%.

• Operating expenses and employee benefits rose 12% to $15.0 million, with the efficiency ratio increasing to 14.4%.

• Net assets at period end were $28.3 million, down 4.0% due to profit after tax and a $4.5 million decrease in fair value of derivatives.

• Cash flow from operating activities was $6.45 million, reversing a negative $5.71 million in the prior period.

• Basic and diluted EPS were 29.64 cents, down from 41.68 cents year-over-year.

Outlook and guidance

• Management expects continued sales growth and higher gross margins, supported by an expanding customer base and subdued wholesale electricity prices.

• Plans to introduce a Virtual Power Plant (VPP) product to leverage the shift toward household solar and batteries.

• The company is well-positioned to manage ongoing volatility in energy markets and deliver consistent returns.