CANBERA (dpa-AFX) - Origin Energy Limited (ORG.AX, OGFGF.PK) reported that its profit attributable to members of the parent entity for the full year ended 30 June 2020 dropped to A$83 million or 4.7 cents per share from last year's A$1.21 billion or 68.7 cents per share, reflecting year-end impairments and adjustments primarily driven by revised oil and LNG price assumptions over the medium and long term.
Underlying profit was A$1.023 billion compared to A$1.028 billion in the prior year.
Annual revenue declined to A$13.16 billion from A$14.73 billion in the previous year.
The board has determined to pay a final dividend of 10 cents per share. This brings Origin's total distributions to shareholders for 2020 to 25 cents per share. The final dividend will be paid on 2 October 2020 to shareholders registered as at 9 September 2020.
Australia Pacific LNG production is expected to be lower at 650-680 petajoules, reflecting anticipated lower demand with strong field capability to increase production in response to changes in demand.
The company aims to halve Scope 1 and 2 emissions by 2032. It aims to achieve net zero emissions by 2050. This year, it made further progress on its decarbonisation journey, reducing Scope 1 and 2 emissions by 9 percent. Today it has also committed to a new short-term target to reduce Scope 1 emissions by 10 percent on average over fiscal year 2021 to fiscal year 2023.
Copyright RTT News/dpa-AFX