Woodside Petroleum: Result 2014

Woodside has reported an excellent full-year result, but the numbers obscure a longer term risk brewing in the business.

Woodside Petroleum has reported impressive full-year results, with the Pluto LNG project adding to output and cash flow. Production for the year rose 2% to a record 87m barrels of oil equivalent, although asset sales last year meant that revenue declined 6% to US$5.9bn. On an underlying basis, profits fell 19% to US$1.7bn reflecting lower prices. Underlying earnings per share fell 16% to US$2.13 and a fully franked final dividend of US$1.03 was declared (ex date 29 Feb), making a total of US$2.49 for the full year.

Net debt, once a genuine concern for the business, plummeted 20% to just US$1.5bn. With investment expenditure halving to US$800m, free cash flow of more than US$2bn was generated, a pleasing turnaround after years of investment.



{{ 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