The statutory profit after tax (NPAT) for the 2021/22 financial year was $860 million, including $486 million on impairments, revalued contracts, and costs associated with its cancelled split into two companies.
Underlying EBITDA (earnings before interest, taxes, depreciation, and amortisation) was $1.218 billion, down 27 per cent on a year ago.
Underlying profit after tax dropped 58 per cent to $225 million.
AGL Managing Director and Chief Executive Graeme Hunt said the underlying profit came within market guidance despite the challenging conditions that intensified in the second half, including increased costs of providing electricity during peak demand.
"Other factors that negatively impacted the result included planned and unplanned plant outages, unprecedented market volatility and suspension, milder weather, increased residential solar volumes and margin compression via customer switching," he said.
Total generation volumes were broadly flat on FY21 at 40,755GWh.
After withdrawing its plans to split the company into two, AGL said a review is "actively considering multiple options for how an integrated AGL can deliver long-term value for shareholders".
Initial outcomes of the review are due at the end of September, along with detailed guidance on expected performance in the year ahead.
"AGL believes FY23 earnings will remain resilient amidst the challenging energy industry and market conditions," the company said.
It has also commenced a global search for a managing director and chief executive officer.
A final dividend of 10 cents per share brings the total dividend for fiscal year 2022 to 26 cents per share, unfranked.
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