Origin Energy HY Profit Climbs

(RTTNews) - Origin Energy Ltd. (ORG.AX, OGFGF.PK) reported that its profit attributable to members of the parent entity for the half year ended 31 December 2023 climbed to A$995 million or 57.5 cents per share from A$399 million or 23.1 cents per share in the prior year.

Revenue for the period declined to A$7.996 billion from A$8.760 billion in the prior year.

The Board has determined a fully franked interim dividend of 27.5 cents per share. The dividend will be paid on 28 March 2024 to shareholders registered as at 6 March 2024.

Energy Markets EBITDA for fiscal year 2024 is expected to be A$1.60 billion - A$1.80 billion, excluding Octopus Energy.

Australia Pacific LNG production for fiscal year 2024 is expected to be 680 - 710 PJ, reflecting the ongoing benefit of workover execution, offset by the unplanned turndown of wells after an LNG vessel lost power at Curtis Island.

For fiscal year 2025, Energy Markets EBITDA is expected to be lower compared to fiscal year 2024, driven by a reduction in electricity gross profit as regulated customer tariffs decline in line with wholesale costs, partially offset by lower cost to serve.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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