Origin Posts Strong FY18; Guidance Disappoints
No-moat-rated Origin Energy's underlying EBITDA increased 36% to AUD 2,947 million, driving a 110% increase in fiscal 2018 underlying NPAT to AUD 838 million. The result was good, but a little below expectations because of higher corporate costs and a slightly weaker-than-expected result from the integrated gas divisions. The utility business was in line with expectations and guidance. Forward guidance disappointed, with EBITDA in the utility business to fall around 6% in fiscal 2019, mainly bec...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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