Origin Energy Limited (ASX:ORG) Announces Half Year Results
Financial Performance
Origin Energy Limited reported an underlying profit of $924 million for the half year ended 31 December 2024, up from $747 million in HY24. Adjusted net debt increased to 1.5x from 1.0x at the end of June 2024. The company’s underlying EBITDA decreased slightly to $1,926 million from $1,995 million in the previous period.
Operational Review
The APLNG segment saw earnings rise by 14% due to higher realised prices and increased sales volumes, with underlying EBITDA soaring by 270% to $285 million. Octopus Energy became the largest energy retailer in the UK, growing to 13.3 million accounts, a 10% increase from December 2023, and is approaching the target of 100 million Kraken accounts. Origin continues to invest in renewable energy and storage projects, aiming to achieve 4-5 GW of capacity by 2030.
Dividend Declaration
Origin Energy announced an interim dividend of 30 cents per share, fully franked, up by 2.5 cents per share from HY24. This increase reflects the company’s strong balance sheet and cash flow from its diversified businesses.
Outlook
For FY25, Origin Energy provided guidance with expected Energy Markets EBITDA between $1,100 million and $1,400 million. The company plans to continue investing in the energy transition, focusing on renewables, storage, and expanding its customer base.
Motley Fool contributor Matt Burgess has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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