Strike Energy (STX) H2 2026 earnings summary

Executive summary

• Refreshed, smaller board structure implemented, with Shelley Robertson appointed as Managing Director & CEO and Nev Power as Chair.

• Advanced construction and commissioning of the 85 MW South Erregulla Power Project, targeting commercial operations in Q4 CY26.

• Key projects include Walyering, West Erregulla, and South Erregulla, with significant progress in FY 2026.

• Achieved a 20% increase in net 2P Reserves at West Erregulla to 251 PJ, supporting further development.

• Agreement reached with Hancock on West Erregulla, enabling pathway to market via Belisama facility.

Financial highlights

• Sales revenue for FY 2026 was AUD 62.8 million, down from AUD 72.7 million in FY25.

• Underlying EBITDA reached AUD 17.6 million, down from AUD 41.6 million in FY25.

• Cash at 30 June 2026 stood at AUD 46.3 million, up from AUD 41.1 million at 30 June 2025.

• CapEx totaled AUD 151.3 million, mainly for South Erregulla Power Station.

• Loss for the year was AUD 157.3 million, compared to a loss of AUD 27.2 million in FY25.

Outlook and guidance

• South Erregulla Power Station expected online by year-end, with forecast project cost of AUD 186 million.

• Capacity revenue from SEPP projected at AUD 19 million (2027), AUD 31 million (2028), and AUD 42 million (2029).

• West Erregulla targeting FID by mid-FY 2028 and first gas by mid-2029.

• Priorities for FY27 include delivering South Erregulla into commercial operations, progressing West Erregulla towards FID, and maintaining Walyering performance.

• Remaining CapEx for South Erregulla as of 30 June 2026 is approximately AUD 16 million, now forecast at AUD 11 million.