Origin Energy posts AU$1.43B loss in FY22
Origin Energy Limited $Origin Energy Ltd(ORG.AU$ released its full-year results for 2022 full year (FY22). The energy business operator also shared the outlook for FY23.
ORG's share price has gained 1.24% in the last six months on the ASX while, during the last year, it has increased 30.89%.
Keynotes
In FY22, the underlying profit of Origin Energy surged by 30% to AU$407 million compared to the previous year. In integrated gas, commodity prices drove the company’s earnings, offset by lesser earnings in the energy markets because of the challenging market environment.
Underlying EBITDA increased to AU$2,114 million. In FY21, it was AU$2,036 million.
The statutory loss for the year stands at AU$1,429 million, reflecting an AU$2,196 million non-cash impairment.
Origin reported a free cash flow position of AU$1,062 million in FY22. It was driven by the record cash distribution of AU$1,595 million from Australia Pacific LNG because of higher realized spot LNG and oil prices.
In these 12 months, the adjusted net debt declined to AU$2,838 million from AU$4,639 million in FY21.
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