• Energy Markets EBITDA ahead of guidance at $1,404 million
• APLNG production and cost in line with guidance
• LNG trading at top end of guidance with $441 million EBITDA
• Octopus Energy growing rapidly, financial performance impacted by investment in growth

Origin Energy has reported its FY25 results, with the company's Energy Markets business delivering EBITDA of $1,404 million, ahead of guidance, driven by strong operational performance. APLNG production and cost of supply were in line with guidance at 682 PJ and $4.2/GJ respectively. LNG trading delivered $441 million EBITDA, at the top end of guidance. Octopus Energy continued its rapid growth, with UK customer accounts increasing 13% to 7.6 million and non-UK accounts doubling to 2.7 million. However, Octopus' financial performance was impacted by investment in growth, unseasonably warm weather, and one-off adjustments, with EBITDA of -$88 million. Origin has declared a 30cps fully franked final dividend, resulting in a 60cps fully franked dividend for the full year, up from 55cps in FY24. The company's balance sheet remains strong, with adjusted net debt/EBITDA of 1.9x, enabling dividends and investment in growth, including a $1.7 billion battery program and the Yanco Delta Wind Farm development.

Origin expects to be within its target adjusted net debt/EBITDA range of 2-3x over FY26-27, subject to market conditions and further growth opportunities.