News: ORG Origin Energy Sees FY23 Energy Markets Underlying EBITDA Between A$600 Mln & A$730 Mln

Jan 27 (Reuters) - Origin Energy Ltd (ORG) :

• SEES FY NOW EXPECTS ENERGY MARKETS UNDERLYING EBITDA TO BE BETWEEN A$600 MILLION AND A$730 MILLION
• IMPROVEMENT IN ENERGY MARKETS UNDERLYING EBITDA IS DRIVEN BY AN EXPECTED INCREASE IN NATURAL GAS AND ELECTRICITY GROSS PROFIT
• NO MATERIAL IMPACT IS EXPECTED ON FY2023 ENERGY MARKETS EARNINGS
• PRODUCTION GUIDANCE FOR FY2023 IS NOW EXPECTED TO BE LOWER AT 660-680 PJS
• ENERGY MARKETS BUSINESS IS EXPECTED TO EARN A RETURN ON CAPITAL EMPLOYED IN FY2023 OF LESS THAN 4 PER CENT
• AUSTRALIA PACIFIC LNG PRODUCTION HAS CONTINUED TO BE IMPACTED BY CUMULATIVE EFFECTS OF WET WEATHER EARLIER IN FINANCIAL YEAR
• PRODUCTION GUIDANCE FOR FY2023 IS NOW EXPECTED TO BE LOWER AT 660-680 PJS
• FY23 AUSTRALIA PACIFIC LNG CAPITAL AND OPERATING EXPENDITURE GUIDANCE IS UNCHANGED
• AUSTRALIA PACIFIC LNG CAPITAL AND OPERATING EXPENDITURE GUIDANCE IS UNCHANGED
• OUTLOOK FOR LNG TRADING BUSINESS HAS IMPROVED FOLLOWING ADDITIONAL HEDGING AT FAVOURABLE MARKET PRICES
• LNG TRADING EBITDA IS NOW EXPECTED TO BE A$450 MILLION TO A$650 MILLION ACROSS FY2025 AND FY2026
• NO MATERIAL IMPACT IS EXPECTED ON FY2023 ENERGY MARKETS EARNINGS AS A RESULT OF INTRODUCTION OF A$12/GJ CAP ON UNCONTRACTED GAS