Origin Energy Ltd., listed as ORG.AX and OGFGF.PK, has seen a significant boost in its profit for the half-year period ending on December 31, 2023. The profit reached A$995 million or 57.5 cents per share, a substantial increase from A$399 million or 23.1 cents per share the previous year.
Yet, revenue for the same period has seen a slight decrease, falling to A$7.996 billion from A$8.760 billion in the previous year.
The company's board has decided on a fully franked interim dividend of 27.5 cents per share, which will be paid on March 28, 2024, to shareholders registered as of March 6, 2024.
As for fiscal year 2024, the Energy Markets EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) is projected to be between A$1.60 billion and A$1.80 billion, not counting the contributions from Octopus Energy.
The Australia Pacific LNG (Liquified Natural Gas) production for the same fiscal year is anticipated to be somewhere between 680 and 710 PJ (Petajoules). This prediction takes into account the continued benefits from the execution of workover activities. However, it also factors in the unexpected decrease in wells following an LNG vessel's power outage at Curtis Island.
Looking ahead to fiscal year 2025, the Energy Markets EBITDA is expected to be lower than in the 2024 fiscal year. This prediction is primarily based on the projected decrease in electricity gross profit owing to a decline in regulated customer tariffs, following wholesale costs. Fortunately, a drop in the cost to serve could partially offset this decrease.
