The following is a summary of the Origin Energy Limited (OGFGF) Q2 2024 Earnings Call Transcript:

Financial Performance:

• Origin Energy's underlying profit stood at $747 million, a noticeable increase from the previous year, and EBITDA was at $1.995 billion.

• They've declared an interim fully franked dividend of $0.275 per share, up from the previous period.

• Adjusted net debt to underlying EBITDA is at a healthier 0.9 times EBITDA.

• Origin's profitability, despite being impacted by higher working capital and increased tax payments, was driven by higher earnings from all businesses.

• Capital expenditure was comparatively high due to investments centered on growth, such as batteries and renewable projects, and debt-to-EBITDA ratio remains low.

• The share from Octopus's underlying EBITDA improved, narrowing the loss, and APLNG earnings were down due to lower global gas and oil prices.

• Energy Markets' half-year earnings saw a substantial increase due to improved wholesale electricity costs, offset by slower collections and living cost pressures.

• The company is planning on investing more in growth projects.

Business Progress:

• The retail business has seen growth with the addition of more than 300,000 accounts.

• Signed a new gas supply contract with Beach Energy and partnered with Octopus Energy to improve their medium-term earnings outlook.

• set a target of approx. 4GW in both renewables and battery storage by 2030 and has already constructed the first stage of its Eraring battery storage project.

• There's growth in the broadband customer accounts and its community energy services business sectors.

• The company intends to increase investment in their technology platform and is involved in active discussions with the government regarding extending the operations of the Eraring plant.

• They have plans for the review of the distribution policy, thus indicating future changes in business operations.

• The company anticipates reduced bad debt provision in 2025/26 but predicts more costs associated with integrating and stabilizing the newly formed business.

• Satisfaction and churn rates have improved as the company migrates to a new AI-enabled cloud-based system. They are still expecting to realize more benefits and add to their growth in customer base.

• They anticipate a reduction in gas gross margin in the second half due to lower C&I pricing when recontracting and JKM expected to be lower.

• Lastly, a potential fall in revenues post-Eraring is predicted, but the company aims to offset it with their 4 gigawatts project.

More details: ORIGIN ENERGY LTD IR

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