Key facts about Beach Energy's FY24 performance

Beach Energy Limited (ASX: $BPT) has reported its FY24 results, with 18.2 MMboe production and $1.8 billion in sales revenue. The company maintained a strong financial position with $437 million liquidity and 15% net gearing. Beach Energy's focus on safety delivered improved outcomes, with 8 months of no recordable injuries and zero Tier 1 1/2 process safety events. The company also emphasized its commitment to sustainability, targeting net zero Scope 1 and 2 emissions by 2050 and a 35% emissions intensity reduction by 2030.

Executive commentary on FY24 performance and strategic outlook

The FY24 results reflect Beach Energy's commitment to delivering solid operational performance while prioritizing safety and sustainability. The company's focus on disciplined growth and returns to shareholders remains unwavering. We are pleased with the progress made in advancing our key milestones and the strategic review completed during the year. Our refreshed strategy, with a focus on core hubs, high margins, and sustainable growth, positions us well for the future. We remain dedicated to becoming Australia's leading domestic energy company and supplying key markets while supporting a gas-supported transition and reducing emissions intensity.

Summary of FY24 results and outlook

Beach Energy's FY24 results demonstrate a solid performance with a focus on safety, sustainability, and disciplined growth. The company's strategic review and refreshed strategy underscore its commitment to delivering shareholder returns and becoming a leading domestic energy supplier. With a strong financial position and a clear pathway to low-cost operations, Beach Energy is well-positioned to capitalize on long-term structural deficits in key markets. The company's emphasis on emissions reduction and safety, along with its sustainable growth initiatives, align with its ambitions to drive value for shareholders and contribute to a gas-supported transition.