2012 Half Year Results Media Presentation - Origin Energy

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$ million Statutory Profit of $794 million, up $930 million from a loss of $136 million 1,000 800 600 400 200 - -200 (136) Dec 10 Statutory Loss 440 Items excluded from Underlying Profit <strong>Origin</strong> Underlying Profit Movement - Dec 10 to Dec 2011 304 Dec 10 Underlying Profit 41% 15% 91% 339 Underlying EBITDA (43) D&A and 1 ITDA (40) Net financing costs 47% (73) Tax Expense 6% 2 Noncontrolling interests 61% 489 Dec 11 Underlying Profit na 305 Items excluded from Underlying Profit na 794 Dec 11 Statutory Profit Underlying Profit increased 61%, reflecting higher Underlying EBITDA due to contributions from the NSW energy assets and lower exploration expense in the Exploration & Production segment, offset by: • Higher depreciation and amortisation charges (up $45m to $305m) primarily due to NSW acquisition and Contact‟s Stratford Peaker and Ahuroa developments. ITDA 1 lower by $2m • Higher net financing costs (up $40m to $84m) reflecting debt financing for NSW acquisition and capital expenditure • Higher Underlying Tax Expense (up $73m to $227m) in line with increased profits Underlying Profit of $489 million, up by $185 million or 61% 10 | (1) Share of interest, tax, depreciation and amortisation of equity accounted investees
OCAT decreased, with the increase in Underlying EBITDA offset primarily by changes in working capital, acquisition liabilities and capex ($ million) Dec 11 Dec 10 Change Underlying EBITDA 1,157 818 339 Change in working capital (192) (62) (130) Stay-in-business capex (99) (69) (30) Share of APLNG OCAT net of EBITDA 14 10 4 Exploration expense 11 97 (86) NSW acquisition related liabilities (139) - (139) Other 1 (3) 8 (11) Tax (13) (8) (5) Group OCAT (incl. share of APLNG) 736 794 (58) Net interest paid (174) (102) (72) Free cash flow 562 692 (130) Productive Capital (calendar year) 13,638 9,631 4,007 Group OCAT Ratio 2 (calendar year) 10.5% 13.2% (2.7%) Higher working capital requirements primarily due to additional SRES requirements and reduced creditors Decrease in exploration expense which is added back in calculating OCAT and treated as investing activities Unwind of non-cash TSA and PPA provisions relating to the NSW acquisition Higher productive capital primarily due to the inclusion of NSW energy assets 11 | (1) The add-back of non–cash equity accounted profits excluding APLNG and movements in other provision balances are included within the “Other” line item (2) Group OCAT Ratio = (OCAT – interest tax shield)/Productive Capital
Page 1 and 2: 2012 Half Year Results Media Presen
Page 3 and 4: Outline 1. Performance Highlights G
Page 5 and 6: During the half Origin has made sub
Page 7 and 8: A$ million FY2012 FY2013 FY2014 FY2
Page 9: 2012 Half Year Financial Highlights
Page 13 and 14: $ million Underlying EBITDA up 41%
Page 15 and 16: Origin has raised additional capita
Page 17 and 18: cents per share FY2001 FY2002 FY200
Page 19 and 20: Energy Markets ‣ Underlying EBITD
Page 21 and 22: Capacity (MW) Capacity (MW) Capacit
Page 23: Base Load/ Interm. Externally A div
Page 26 and 27: Origin continues to develop its new
Page 28 and 29: Notwithstanding planned shutdowns a
Page 30 and 31: Asset reliability is currently bein
Page 32 and 33: Australia Pacific LNG ‣ Underlyin
Page 34 and 35: APLNG‟s CSG to LNG project is und
Page 36 and 37: Upstream activities are ramping up
Page 38 and 39: Curtis Island site preparations are
Page 40 and 41: APLNG 100% capital expenditure for
Page 42 and 43: Contact is one of New Zealand‟s l
Page 44 and 45: Increased portfolio diversity and f
Page 46 and 47: Building on its domestic success, O
Page 48 and 49: Based on prevailing market conditio
Page 50: Thank you Further Information Lina

2012 Half Year Results Media Presentation - Origin Energy

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