Origin Energy profits plummeted last half amid low gas prices, though its Energy Markets segment’s earnings continued to rise.
Statutory profit was A$557 million, down from $1.02 billion year-over-year and below Visible Alpha estimates of $574.81 million.
"Origin's first half results are solid, allowing an upgrade to full-year guidance for Energy Markets. Retail performance continued to strengthen, grid-scale batteries added further portfolio flexibility, gas production was steady, and cost management remained disciplined as commodity prices softened,” said CEO Frank Calabria.
"We have delivered more than 10 consecutive halves of customer growth, further building on Origin's leading retail position, reflecting the strength of our brand and customer solutions, including a refreshed suite of battery products and continued enhancements in customer experience.”
Underlying EBITDA sank from $1.93 billion to $1.59 billion year-over-year. Underlying profit dropped from $924 million to $593 million.
Its Energy Markets segment reported underlying EBITDA of $860 million, rising $122 million, which Origin credited to higher electricity gross profit and cost to serve savings. It added 96,000 new customer accounts.
Integrated Gas’ underlying EBITDA was also $860 million, falling from $1.25 billion due to lower LNG prices. Oil prices fell by 19% across 2025, largely due to an abundance of supply.
Origin’s Australia Pacific LNG production was unchanged at 339 petajoules.
Its share in British energy supplier Octopus Energy saw an EBITDA loss of $89 million.
The company has declared a fully franked dividend of $0.30 per share. Its guidance for the full fiscal year includes $1.55-1.75 billion in Energy Markets EBITDA, with Australia Pacific LNG production of 645-680 petajoules.
Origin Energy (ASX: ORG) shares closed 0.7% higher yesterday at $11.07. Its market capitalisation is $19.07 billion.
