Origin Energy Limited (OGFGF) FY 2025 Earnings Call Transcript

2025-08-14 00:18:45 ET

Origin Energy Limited (OGFGF)

FY 2025 Earnings Conference Call

August 13, 2025 07:30 PM ET

Company Participants

Andrew Thornton - Executive General Manager of Integrated Gas

Anthony Lucas - Chief Financial Officer

Frank G. Calabria - MD, CEO & Executive Director

Greg Jarvis - Executive General Manager of Energy Supply & Operations

James Magill - Executive General Manager, Origin Zero

Jon Briskin - Executive General Manager of Retail

Conference Call Participants

Amit Kanwatia - Jefferies LLC, Research Division

Dale Johannes Koenders - Barrenjoey Markets Pty Limited, Research Division

Gordon Alexander Ramsay - RBC Capital Markets, Research Division

Henry Meyer - Goldman Sachs Group, Inc., Research Division

Ian Myles - Macquarie Research

Nik Burns - Jarden Limited, Research Division

Robert Koh - Morgan Stanley, Research Division

Tom Allen - UBS Investment Bank, Research Division

Presentation

Frank G. Calabria

Good morning, everyone, and welcome to the Origin Energy results presentation for the 2025 financial year. It's Frank Calabria here, and I'm joined by my executive leadership team, and we have a brief presentation followed by questions and answers. And you'll also note that we have provided additional information in the appendices for your review.

Slide 2 provides a summary of the financial performance and business highlights for the year and I think underscores the strength of our portfolio. Energy Markets EBITDA of $1.404 billion is ahead of guidance. APLNG production of 682 petajoules at a cost of $4.20 a gigajoule is in line with guidance. LNG trading is at the top end of guidance with trading gains of $441 million, and Octopus EBITDA is at a loss of $88 million within -- it's within guidance and reflects the investment in its rapid global growth, but also some unseasonably warm weather and one-off adjustments.

There are several business highlights for the year. Our customer accounts grew by 104,000; cost to serve reduced by $50 million. We had strong generation performance, and I'll talk to that later. Battery developments are on track; and Yanco Delta wind farm has secured access rights. We received $797 million of dividends from APLNG during the year and then a further $335 million on the 3rd of July 2025, and those are all fully franked....

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