AGL Energy Limited (AGL) will amend the basis for segmental analysis reporting commencing with the 2012 interim results to be released on 24 February 2012. Accounting Standard AASB 8 requires companies to report segmental information on a similar basis as is used internally by management for reviewing operating segment performance.
There is no change to the reported profit in any prior periods, only a reallocation between business units.
The two main changes are:
- Business Customers (formerly Commercial and Industrial) transferred to Merchant Energy, previously reported in Retail Energy; and
- Some administration costs (mainly finance and IT) now reported in centrally managed expenses, previously reported in the business units.
The historical segment data in Appendix 1 is provided to facilitate comparisons with performance in prior periods.
For more information, please refer to the ASX release.
AGL is one of Australia's leading integrated renewable energy companies and is taking action toward creating a sustainable energy future for our investors, communities and customers. Drawing on 175 years of experience, AGL operates retail and merchant energy businesses, power generation assets and an upstream gas portfolio. AGL has one of Australia's largest retail energy and dual fuel customer bases. AGL has a diverse power generation portfolio including base, peaking and intermediate generation plants, spread across traditional thermal generation as well as renewable sources including hydro, wind, landfill gas and biomass. AGL is Australia's largest private owner and operator of renewable energy assets and is looking to further expand this position by exploring a suite of low emission and renewable energy generation development opportunities.