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Highlights:

  • ORG's statutory profit increased by 6% YoY to AUD 1.48 billion in FY25, underlying profit rises AUD 307 million to AUD 1.49 billion.

  • Fully franked final dividend of 30 cents per share; full-year payout of 60 cents, up from 55 cents in FY24.

  • FY26 guidance targets AUD 50–100 million in further cost-to-serve savings and moderate gas profit growth.

Origin Energy Limited (ASX:ORG) reported a statutory profit of AUD 1,481 million for the year ended 30 June 2025, up from AUD 1,397 million in FY24. Underlying profit rose to AUD 1,490 million, an increase of AUD 307 million, largely driven by a lower income tax expense following the shift of Australia Pacific LNG (APLNG) dividends from partially to fully franked.

Underlying EBITDA came in at AUD 3,411 million, down AUD 117 million from FY24. Higher Integrated Gas earnings from LNG trading partly offset weaker results in the Energy Markets and Octopus Energy segments.

Origin received AUD 797 million in fully franked dividends from APLNG during FY25, alongside an additional AUD 335 million dividend received in July 2025 relating to FY25 cash generation. This compares to largely unfranked distributions of AUD 1,384 million in the prior year.

Dividend Payout
The Board declared a fully franked final dividend of 30 cents per share, bringing the total FY25 dividend to 60 cents per share. This represents 86% of adjusted free cash flow, up from 55 cents in FY24.

FY26 Outlook
Origin’s FY26 guidance is based on stable market conditions and no material regulatory changes.

  • Energy Markets Underlying EBITDA: Expected in the range of AUD 1,400–1,700 million, with electricity gross profit stable and gas gross profit improving moderately.

  • Cost Savings: Cost-to-serve expected to improve by a further AUD 50–100 million, targeting total savings of AUD 100–150 million by FY26 compared to FY24 levels.

  • APLNG Production: Forecast at 635–680 PJ (100% basis), with unit capital and operating expenditure expected between AUD 4.3–5.0 per GJ.

  • LNG Trading Gains: Projected at AUD 100–150 million.

  • Octopus Energy Contribution: Underlying EBITDA expected between AUD 0–150 million, driven by growth in UK Retail and Kraken Technologies, partially offset by investment in expanding non-UK retail and Energy Services.

  • Capital Expenditure: Planned between AUD 800–1,100 million, focused on battery projects, generation capacity, and sustaining capital.