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Origin Energy's FY'19 profit jumps, pulled up by integrated gas segment

Origin Energy Ltd. reported Aug. 22 a statutory profit for continuing operations of A$1.21 billion for fiscal year 2019, jumping from A$280 million in the prior-year period.

Underlying profit for continuing operations reached A$1.03 billion for the full fiscal year, up from A$726 million a year earlier.

Underlying EBITDA for continuing operations totaled A$3.23 billion for the fiscal year, topping A$2.79 billion in the prior-year period. The earnings were driven by the integrated gas segment at A$1.89 billion, from A$1.25 billion a year ago. The energy markets segment contributed A$1.57 billion, from A$1.65 billion in the prior-year period.

Excluding funding for the Australia Pacific LNG Pty. Ltd. joint venture project, the company expects to spend A$530 million to A$580 million in capital expenditures in 2020.

For 2020, Origin Energy also estimates Australia Pacific LNG's production to be between 680 petajoules and 700 petajoules.