Higher LNG Prices Drive Good 1H for Origin
No-moat-rated Origin Energy had a good first half, with underlying EBITDA up 20% to AUD 1.7 billion and underlying profit up 53% to 592 million, mainly on stronger LNG export prices and lower interest expense. EBITDA in the utility business, known as energy markets, was flat, while integrated gas EBITDA jumped 43%. Headwinds will intensify in the second half, and full-year profit growth is unlikely to be as strong. We increase our earnings forecasts for the integrated gas division on the recent ...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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