First Impression: AGL Energy-AGL- FY16 Result

Outlook: AGL continues to expect to deliver earnings growth in FY17 noting: A challenging start to the year, reflecting unseasonably mild July weather on Australia’s east coast; the impact of a reduction in its gas portfolio margin of at least $100 million compared with FY16 (as stated on 7 July 2016); The benefit of stronger wholesale electricity prices will moderate over the medium term; Ongoing enterprise bargaining agreements at AGL’s Loy Yang and Macquarie power stations. Formal guidance of its FY17 earnings outlook to be provided at AGM on 28 Sep.