Balance Sheet Strength Provides Opportunities to ... - Origin Energy

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Operating Cash Flow ($ million) EBITDAF Equity Accounted Investees (EBITDAF less dividends) Exploration Write-Off Change in working capital Stay-in-business capex (1) Other Tax paid OCAT Net interest paid Free cash flow Funds Employed (excluding CAPWIP) (2) - Calendar Year OCAT Ratio (excluding CAPWIP) (3) – Calendar Year Dec 08 686 (14) 4 (51) (115) (29) (117) 363 (147) 216 6,675 11.8% Dec 07 614 (9) 16 (61) (70) (23) (83) 385 (126) 259 6,473 11.8% 66 (1) Net of book value of assets sold (2) Funds employed are averaged over the calendar year and excludes CAPWIP. APLNG is not included in this calculation (3) OCAT Ratio = (OCAT – interest tax shield) / average funds employed excluding CAPWIP. APLNG is not included in this calculation
Segment Cash Flow & Cash Flow Returns Operating Av. Funds OCFR (%) (2) Cash flow (2) Employed (3) ($m) ($m) Dec 08 Dec 07 Exploration & Production (1) 305 1,267 24.0 22.9 Generation 37 294 12.7 30.3 Retail 369 2,402 15.4 9.2 Contact Energy 319 3,444 9.3 11.2 • E&P: Increased operating cash flows following record production and sales • Generation: Reduced operating cash flow, primarily due to Worsley plant outage • Retail: Higher operating cash flows and margins, primarily due to tariff increases for electricity and gas customers • Contact: Reduced operating cash flow primarily due to the impact of hydrology conditions in the South Island combined with transmission constraints between the North and South Islands 67 (1) Segment calculations for E&P do not include APLNG (2) Calculated on a calendar year basis (3) Excluding CAPWIP
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Balance Sheet Strength Provides Opp
Page 3 and 4:
Outline • Company Strategy • St
Page 5 and 6:
Origin operates in the domestic ene
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Effective implementation of this st
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As the operating and economic envir
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As a result of this transaction, Or
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Strategy Implementation
Page 15 and 16: Developing gas reserves close to ma
Page 17 and 18: Liquids production from the mature
Page 19 and 20: APLNG continues strong growth in CS
Page 21 and 22: With the next phase of APLNG’s CS
Page 23 and 24: Notwithstanding the review of explo
Page 25 and 26: Generation
Page 27 and 28: Origin’s Electricity Generation P
Page 29 and 30: Origin is doubling the capacity of
Page 31 and 32: Darling Downs Power Station is prog
Page 33 and 34: HY2009: EBITDAF was lower primarily
Page 35 and 36: Origin is a leading wholesaler and
Page 37 and 38: Even after higher wholesale prices
Page 39 and 40: HY2009: EBITDAF grew by $99 million
Page 41 and 42: Contact is New Zealand’s leading
Page 43 and 44: Contact has implemented a number of
Page 45 and 46: Outlook
Page 47 and 48: 47 Origin will continue to progress
Page 49 and 50: Balance Sheet Strength Provides Opp
Page 51 and 52: Appendix
Page 53 and 54: Profit & Loss - Underlying ($ milli
Page 55 and 56: A review of the carrying value of a
Page 57 and 58: APLNG Balance Sheet ($ billion) Dec
Page 59 and 60: APLNG transaction has transformed O
Page 61 and 62: EBITDAF of $686m is up 12% primaril
Page 63 and 64: 63 Interest ($ million) Dec 08 Dec
Page 65: Capital Expenditure ($ million) Sta
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Balance Sheet Strength Provides Opportunities to ... - Origin Energy

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