Origin Energy Posts FY Profit
(RTTNews) - Australia's Origin Energy Limited (ORG.AX, OGFGF.PK) reported that its profit attributable to members of the parent entity for the full year ended 30 June 2023 was A$1.06 billion or 60.9 cents per share compared to a loss of A$1.43 billion or 81.5 cents per share in the prior year.
Underlying profit was A$747 million, A$340 million higher than the prior year, due to improved earnings across Energy Markets, Octopus Energy and Integrated Gas, partly offset by higher income tax expense associated with unfranked distributions from Australia Pacific LNG.
Annual revenue grew to A$16.48 billion from A$14.46 billion in the previous year.
The company declared a final dividend of 20 cents per share. Shareholders received total dividends for fiscal year 2023 of 36.5 cents per share, representing 66 per cent of free cash flow. In fiscal year 2022, total dividends were 29 cents per share. The dividend will be paid on 29 September 2023 to shareholders registered as at 6 September 2023.
Origin expects higher energy markets underlying EBITDA in fiscal year 2024 of A$1.30 billion - A$1.70 billion, excluding Octopus Energy.
Looking further ahead to fiscal year 2025, the company expects electricity gross profit in Energy Markets to be lower than fiscal year 2024.
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