Origin Energy Reports Strong EBITDA Growth in 1H17; but Overvalued Considering Risks
Origin Energy's first-half fiscal 2017 EBITDA jumped 32% to AUD 1,145 million on the start of LNG exports, but the LNG facility brings heavy depreciation and interest burdens, which offset profit improvements in the energy markets (that is, utility) business and the conventional gas exploration and production business. Underlying EBIT fell 8% to AUD 445 million and net profit after tax fell 28% to AUD 184 million. Full-year EBITDA guidance was increased fractionally to AUD 2,450-2,615 million. W...Origin Energy is engaged in the operation of energy businesses including: exploration and production of oil and gas, electricity generation, wholesale and retail sale of electricity and gas, and sale of liquefied natural gas. Co. supplies energy to wholesale and retail energy markets in Australia and to the Asia Pacific region. Co. also has exploration and production operations in Australia and New Zealand, with exploration and production interests in the Otway, Bass and Cooper Basins in Australia, the Browse and Perth basins in Australia, the Bonaparte basin in north-western Australia, the Beetaloo Basin in the Northern Territory and the Taranaki and Canterbury Basins in New Zealand.
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