Beach Energy (ASX:BPT) Swings to Profit in H1FY25, Shares Optimistic Outlook

Highlights

• BPT's H1FY25 sales revenue increased by 5% YoY to AUD 989.98 million.
• The company’s gross profit rose by 37% YoY to AUD 362.9 million for the period.
• BPT Director Brett Woods increased his stake to 3,639 shares through salary sacrifice arrangement on 30 May 2025.

Beach Energy Limited (ASX:BPT) is an oil and gas exploration and production company with operated and non-operated assets across Australia and New Zealand, supplying domestic gas, exporting LNG, and producing LPG, condensate, and crude oil.

In the first half of financial year 2025 (H1FY25), the company’s sales revenue increased by 5% YoY to AUD 989.98 million, up from AUD 941.00 million in H1FY24. Gross profit rose by 37% YoY to AUD 362.9 million in H1FY25, driven primarily by increased production, LNG cargoes, higher gas prices, and a 5% reduction in cost of sales. During the reported period, the company recorded net profit of AUD 222.3 million, compared to a loss of AUD 345.1 million in H1FY24.

During the March 2025 quarter, the company reported a stable production of 4.9 MMboe, underpinned by consistent output from the Otway, Perth, and Bass Basins, along with a 16% increase in output at Kupe. Quarterly sales revenue reached AUD 552 million, driven in part by two additional Waitsia LNG cargoes that generated AUD 152 million. Realised gas prices rose 4% during the period. The company used higher free cash flow reducing net debt to AUD 312 million and net gearing to 8%, with liquidity standing at AUD 708 million.

Recent Business Update

On 30 May 2025, BPT Director Brett Woods acquired 2,100 BPT shares through a salary sacrifice arrangement, increasing his direct holding to 3,639 shares.

Company Outlook

Beach Energy expects its FY25 production to range between 18.5 and 20.5 million barrels of oil equivalent (MMboe), with a focus on achieving the midpoint through consistent drilling progress, stable performance across its core basins and upcoming commissioning of Waitsia Stage 2, with first gas sales targeted for mid-2025. The company anticipates capital expenditure of AUD 700–800 million, aiming for the lower end of the range to support disciplined spending and sustained free cash flow generation.

The company remains on track to achieve operating costs of nearly AUD 14/boe.  

Share performance of BPT

BPT shares closed 2.43% higher at AUD 1.265 on 12 June 2025, marking an intraday gain of AUD 0.030. The stock price has dropped 5.60% over the past week, 3.07% in the past month, and 8.33% over the past three months.

Notably, the stock has delivered a 10% gain over the last nine months, but this has not been enough to offset its broader losses, including a 20.94% decline over the past year. On 13 June 2024, BPT recorded its 52-week high of AUD 1.63, while the 52-week low of AUD 1.065 was registered on 9 September 2024.

Support and Resistance Summary

Note 1: Past performance is neither an Indicator nor a guarantee of future performance.

Note 2: The reference date for all price data, and currency, is 12 June 2025. The reference data in this report has been partly sourced from REFINITIV.

Technical Indicators Defined:

Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.

Resistance: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Resistance 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Resistance 2 may act as the crucial resistance level for the stock.

Disclaimer

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