2012 Half Year Results Media Presentation - Origin Energy

Energy Markets delivered strong earnings growth from the NSW
acquisition
Performance Metrics, $m
(% change from Dec 10)
Natural Gas
Electricity
Noncommodity
Revenue 1 624 (+2%) 3,827 (+78%) 136 (-36%) 350 (+5%)
Gross Profit 126 (+20%) 930 (+68%) 18 (-42%) 94 (+5%)
Underlying EBITDA 820 (+52%)
Underlying EBIT 697 (+53%)
Underlying EBIT/Sales % 14.1% (13.8% in Dec 10)
Volumes (sold) 68 PJ (-7%) 22 TWh (+57%)
245 kt (-1%)
n.a.
Customer accounts („000) 2 950 (+3%) 3,075 (-4%) 355 (-3%)
Gross Profit per customer ($) 267 (+1%) 265 (+5%)
Cost to Serve 3 per customer ($) (70) (-1%)
LPG
Earnings uplift from
NSW acquisition
Cost to Serve maintained
Underlying EBITDA per customer ($) 197 (+2%) 80 (-15%)
Underlying EBIT per customer ($) 169 (+1%) 43 (-28%)
22 |
Effective portfolio management led to steady margins broadly in
line with the prior half year‟s strong performance
(1) Energy Markets earns pool revenue and revenue from the sale of gas swaps. These revenues are netted off with the associated costs
within the wholesale energy costs line of Electricity COGS and the associated cost in Natural Gas COGS respectively
(2) Customer account movement since 30 June 2011
(3) Cost to serve includes the benefit associated with the unwind of the Transitional Service Agreements entered into as part of the NSW
Acquisition ($49m)