QPM Posts $8.2M Profit with 12.6% Revenue Growth and 435PJ Gas Reserves
QPM Energy has reported its first-ever profit alongside a 12.6% revenue increase and significant growth in gas reserves and electricity generation capacity.
- 12.6% revenue growth to $120.1 million in FY2025
- Maiden profit after tax of $8.2 million
- Electricity revenue up 32.5% to $53 million
- 2P gas reserves increased from 331PJ to 435PJ
- Acquisition of Moranbah Power Station expands generation capacity
Strong Financial Performance Marks a Milestone Year
QPM Energy Ltd has announced a landmark financial year, posting its maiden profit after tax of $8.2 million for FY2025, alongside a 12.6% increase in group revenue to $120.1 million. This marks a significant transition for the company, which has been consolidating its position in the energy sector through strategic acquisitions and operational enhancements.
Operational Excellence and Safety
The company’s MGP Field Operations delivered a solid performance with zero lost time injuries and no reportable environmental incidents, underscoring a strong commitment to safety and sustainability. Gas supply reached 9.4 petajoules (PJ), with unit costs reduced by 6.2% to $4.86 per gigajoule, reflecting improved operational efficiencies. The completion of a seven-well drilling campaign and gathering system optimisations further strengthened the asset base.
Expanding Reserves and Generation Capacity
QPM’s independently certified 2P gas reserves have surged from 331PJ to 435PJ, providing a robust foundation for future growth. On the electricity front, total dispatch from the Townsville and Moranbah Power Stations reached approximately 220,000 megawatt-hours. The acquisition of Moranbah Power Station not only increased generation capacity but also contributed to lower operating costs. Post-year-end, the company completed an overhaul of the Townsville Power Station, positioning it for enhanced performance.
Strategic Development of the Isaac Energy Hub
Looking ahead, QPM has completed a feasibility study for the 112MW Isaac Power Station, which forms the first stage of the broader Isaac Energy Hub development. The study revealed strong economic prospects, prompting the procurement of two GE Vernova LM6000 gas turbines. This project signals QPM’s ambition to leverage its substantial reserves and infrastructure to expand its footprint in the energy market.
Leadership Perspective
CEO David Wrench highlighted FY2025 as a pivotal year, emphasizing the successful integration of the MGP assets and the company’s readiness to deliver strong shareholder returns. He expressed confidence in the Isaac Energy Hub’s potential to drive future growth and thanked shareholders for their ongoing support.
Bottom Line?
QPM’s maiden profit and strategic asset growth set the stage for a transformative FY2026 focused on the Isaac Energy Hub.
Questions in the middle?
- What is the expected timeline and capital expenditure for the Isaac Power Station commissioning?
- How will fluctuating commodity prices impact QPM’s margins and profitability going forward?
- What are the company’s plans for further reserve development or acquisitions beyond the current portfolio?
