Origin Energy announced FY2022 results Underlying profit up by 30%

Origin Energy Limited (ASX:ORG) has released FY2022 results for the period ended 30 June 2022 and reported 30% increase in underlying profit to AU$407 million. The underlying profit was driven by higher earnings in Integrated Gas, counterbalanced by lower earnings in Energy Markets due to very challenging market conditions.

• Underlying EBITDA increased from AU$2,036 million in FY2020 to AU$2,114 million in FY2021.
• On a statutory basis, Origin announced a loss of AU$1,429 million, reflecting AU$2,196 million non-cash impairment.
• Origin benefitted from a record cash distribution from Australia Pacific LNG of $1,595 million, due to higher realised oil and spot LNG prices.
• Adjusted net debt lessened AU$1,801 million to AU$2,838 million.
• ORG Board has announced a partially franked final dividend of AU16.5 cents.

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