Origin Energy: Interim result 2013

Origin reported both lower profits and higher costs. Despite the awful result, value remains.

After two separate downgrades, expectations for Origin Energy’s interim result weren’t high, yet they still disappointed. Although revenue rose 14% to $7.4bn, net profit fell 34% to $524m. Reported profit is next to useless for Origin as it includes mark to market movements of hedging agreements and other oddities. On an underlying basis, net profit fell 26% to $362m. From underlying earnings per share of 33 cents, a fully franked 25 cent dividend was declared (ex date 26 February).

The dramatic loss was caused primarily because of falling margins in the retail energy business; underlying earnings before interest, tax, depreciation and amortisation (EBITDA) falling from $820m last year to just $660m, a decline of 20%.



{{ twilioFailed ? 'SMS Code Failed to Send…' : 'An SMS verification code has been sent ...' }}

Hi {{ user.FirstName }}

Looks like you have already taken a free trial

Please enter your payment details

We have sent you a code via SMS to {{user.DayPhone}}

please enter this code below to complete your SMS verification

We cannot send you a code via SMS to {{user.DayPhone}}

If you didn't receive SMS code please

SMS code cannot be sent due to: {{ twilioStatus }}

Please select one of the options below:

Looks you are already a member. Please enter your password to proceed

Please untick this box when using a public or shared device

Verify your mobile number to proceed...

Please check your mobile number below and press the Send Verification Code button. This will be used to complete your verification in the next step.

Please sign up for full access


Updating information

Please wait ...


{{ productPrice }} / day
( GST included )
Price $0
GST $0
Discount -{{productDiscount}}
TOTAL {{productPrice}}
  • Mastercard
  • Visa

Please click on the ACTIVATE button to finalise your membership


The email address you entered is registered with InvestSMART.

Please login or select "Don't know password"

Please untick this box when using a public or shared device

Register as a new member

(using a different email)

Related Articles