• Underlying Profit up 24% to $924 million
• Integrated Gas EBITDA up 25% to $1.25 billion
• Interim dividend increased 2.5 cents to 30 cents per share

Origin Energy Limited reported its results for the half year ended 31 December 2024, delivering a solid performance broadly in line with expectations. Underlying Profit increased 24% to $924 million, with lower Energy Markets earnings more than offset by an increase in Integrated Gas EBITDA and a reduction in income tax expense as APLNG delivered fully franked dividends. Integrated Gas EBITDA rose 25% to $1.251 billion, primarily due to higher LNG trading gains as well as increased LNG volumes and commodity prices at APLNG. Origin's capital structure remained strong, with the Adjusted Net Debt/Adjusted Underlying EBITDA ratio at 1.5x. The Board has determined to pay a fully franked interim dividend of 30 cents per share, up from 27.5 cents per share in the prior half year period. The company continued to invest in the energy transition, with construction of stage two of the 460 MW Eraring battery commencing and approval of stage three, as well as the award of a feasibility licence for its joint venture Navigator North 1.5 GW offshore wind project. Octopus Energy, in which Origin holds a ~23% stake, continued its strong customer growth trajectory and is now the outright number one energy retailer across electricity and gas in the UK.

Origin expects the anticipated coal volume requirement for FY25 of 5 - 6 million tonnes to be approximately A$30/t higher than FY24, with approximately 55% of the anticipated coal volume for FY26 fully contracted or hedged at prices broadly in line with FY25.