AGL Energy Limited
(ASX:AGL) has flagged about $1 billion in asset sales and $200 million of cost cuts.
The energy giant says the non-strategic and under-performing asset divestments and capital reductions will be made by the end of fiscal 2017.
The restructuring initiatives come as part of what AGL Energy describes as a strategic roadmap to deliver improved shareholder returns.
AGL Energy advises it will likely incur a $30 million restructuring charge as a result of the review but remains on track to achieve annual underlying profit guidance.
AGL Energy reported a net profit of $308 million in the first half of the 2015 financial year.
