Results: Infigen share price rally sparked by renewables rebound

The Infigen Energy Ltd (ASX: IFN) share price has climbed higher today after the Aussie renewables group posted a solid full-year result.

Should you invest $1,000 in Evt right now?

Before you buy Evt shares, consider this:

Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now... and Evt wasn't one of them.

The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

And right now, Scott thinks there are 5 stocks that may be better buys...

See The 5 Stocks *Returns as of 6 March 2025

a woman

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The Infigen Energy Ltd (ASX: IFN) share price has climbed 5% higher in today's trade after the Aussie renewables group posted a solid full-year result.

What did Infigen announce this morning?

For the year ended 30 June 2019 (FY19), Infigen reported underlying earnings up 11% on the prior corresponding period (pcp) to $165.3 million, while net revenue also climbed 9% higher to $229.3 million.

However, Infigen posted net profit after tax (NPAT) 10% lower on pcp, albeit with a $9.9 million impairment to development assets during the year.

The biggest revenue driver was renewable energy generation climbing 20% higher to 1,775 gigawatt hours (GWh) with 67% of FY19 generation sold under contracts.

The news gets better for FY20, with Infigen reporting 75% of its FY20 renewable energy generation and 100% of its expected large-scale generation certificates (LGCs) already contracted.

Positively, Infigen reported power purchase agreements (PPA) volumes up 20% on pcp at 489GWh while merchant volumes sold also climbed 6% higher at 716GWh.

The Aussie renewables group said it remains focused on accretive growth following several acquisitions throughout FY19, while continued deleveraging of its balance sheet and returns to shareholders also emerging as strategic priorities throughout the year.

Infigen paid an interim dividend of 1 cent per share (cps) to shareholders, paid out of free cash flow, with its 2H 2019 distribution to be paid in September 2019.

What about Infigen in FY20?

Despite a bumper year for renewable energy generation, Infigen said it expects further volume growth in FY20 with Bodangora wind farm and Kiata wind farm both set to be online for a full 12 months.

Infigen also said net revenue is weighted towards the first half of the year due to higher LGC contract prices, while net operating cash flow is weighted to the back half of the year when the higher-level LGCs are due for cash settlement.

The continued development of the renewable energy market in Australia remains the key to Infigen's future profitability and share price growth, and, in my view, the latest result shows they remain in a strong position to post further gains in FY20.

Motley Fool contributor Kenneth Hall has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Share Gainers

Child drinking milk out of a glass.
Share Gainers

Guess which ASX All Ords share just rocketed 12% in today's crashing market?

This ASX All Ords share is surging today despite the Trump tariff market turmoil. But why?

Read more »

Excited couple celebrating success while looking at smartphone.
Share Gainers

Why Astral, Newmont, Ramelius, and Synlait shares are defying the market selloff and rising

These shares are rising despite the market weakness today. But why?

Read more »

Ten happy friends leaping in the air outdoors.
Share Gainers

Here are the top 10 ASX 200 shares today

It was another positive day for ASX investors this hump day.

Read more »

Man with rocket wings which have flames coming out of them.
Share Gainers

Guess which ASX All Ords stock just rocketed 14% on BIG leadership news

Investors just sent this ASX All Ords stock surging by 14%. But why?

Read more »

Man drawing an upward line on a bar graph symbolising a rising share price.
Share Gainers

Why AMA, Emerald Resources, Kelsian, and Life360 shares are zooming higher

These shares are having a good session on hump day. But why?

Read more »

a man holds a firework sparkler in both hands as a shower of sparkly confetti falls from the sky around him as he smiles and closes his eyes in a celebratory scene.
Share Gainers

These were the best ASX 200 shares to own in Q1 of 2025

These shares made their shareholders smile over the past three months.

Read more »

A man with a wide, eager smile on his face holds up three fingers.
Healthcare Shares

3 reasons to buy this surging ASX All Ords healthcare share today

A top expert forecasts more outperformance from this rocketing ASX healthcare stock.

Read more »

A happy elderly woman smiles and cheers as she looks at good investment news on her laptop.
Share Gainers

Here are the top 10 ASX 200 shares today

Investors were back to the races this Tuesday.

Read more »