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BRIEF-Origin Energy says FY net loss $658 mln

Published 20/08/2015, 10:10 am
© Reuters.  BRIEF-Origin Energy says FY net loss $658 mln
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Aug 20 (Reuters) - Origin Energy Ltd ORG.AX :

* FY revenue $13.80 billion versus $14.52 billion last year

* FY net loss $658 million versus profit of $530 million a year ago

* Final dividend 25 cents per security

* Intends to grow its interests in natural gas resources in Australia "

* Intends to continue growing its capabilities and investing in renewable energy development opportunities

* Remaining cash contribution to Australia pacific lng to be around $1.8 billion, an increase of $550 million from previous guidance

* Australia pacific lng project is expected to commence sustained production from train 1 from the second quarter of the 2016 financial year

* Expects its share of distributable cash flow from australia pacific lng to be around $900 million per annum on average from 2017 financial year

* In the 2016 financial year expects similar contributions from energy markets to that achieved in the 2015 financial year

* Every a$10/bbl change in the oil price will change origin's expected distribution from Australia pacific lng by $200 million."

* In the 2016 financial year expects contact contributions to cease from 10 August

* Growth capital expenditure in the existing businesses excluding acquisitions to reduce to around $650 million

* Cost savings achieved in the 2016 financial year are expected to be largely offset by restructuring costs

* Origin energy-company-wide project is expected to deliver a reduction of $200 million in cash costs from the 2017 financial year

* Source text for Eikon ID:nASX30g9W0

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