PERTH (miningweekly.com) – End-to-end energy provider Origin Energy has reported a statutory profit of A$796-million for the six months to December, compared with a loss of A$136-million in the previous corresponding period.
The previous financial result included an after-tax impairment of A$360-million.
Underlying earnings before interest, taxes, depreciation and amortisation (Ebitda) increased to A$1.72-billion in the six months under review, compared with the A$1.43-billion in the previous corresponding period.
“Origin delivered a solid performance over the half, with Energy Markets performing well in a challenging environment, and Integrated Gas making a significant contribution as a result of higher commodity prices and reliable operations from the Australia Pacific liquefied natural gas (APLNG) project,” said Origin CEO Frank Calabria.
Underlying Ebitda from the Integrated Gas business increased by A$270-million over the period, or 43%, to A$900-million, with the growth driven by higher commodity prices, particularly higher oil prices, combined with reliable production from the APLNG project.
The APLNG project is expected to produce between 665 PJ and 685 PJs in the full year, with between 250 and 300 operated wells drilled.