Origin Energy Limited · ASX:ORG
Origin Energy — Shareholder Meeting (October 2008)
29 slides from Origin Energy's shareholder meeting presentation, Oct 15, 2008
Slide 1: Annual General Meeting
Annual General Meeting 15 October 2008 The Board Roland Williams Non-Executive Director 2 1
Slide 2: The Board
The Board Bruce Beeren Non-Executive Director 3 The Board Grant King Managing Director 4 2
Slide 3: The Board and Company Secretary
Company Secretary Bill Hundy Company Secretary 5 The Board Helen Nugent Non-Executive Director 6 3
Slide 4: The Board
The Board Trevor Bourne Non-Executive Director 7 The Board Gordon Cairns Non-Executive Director 8 4
Slide 5: Chairman's Address
9 Chairman’s Address 10 5
Slide 6: Share Price / Integrated Fuel Company
Share Price Origin Share Price Performance (Indexed to 100 from 1 November 2007) 200 Origin S&P ASX 100 175 168 150 125 100 75 62 50 Nov-07 Dec-07 Jan-08 Feb-08 Mar-08 Apr-08 May-08 Jun-08 Jul-08 Aug-08 Sep-08 Oct-08 11 Integrated Fuel Company • Leading producer, wholesaler and retailer of energy in
Slide 7: Performance Highlights
Performance Highlights Revenue $8,275 million up29% EBITDAF $1,309 million up12% Statutory Profit $517 million up13% Underlying Profit $443 million up20% EPS – Statutory 59.0 cps up 8% EPS – Underlying 50.6 cps up14% OCAT $875 million up 7% Full year dividend fully franked 25 cps up19% 13 Safety per
Slide 8: Environment / Coal Seam Gas
Environment • Support of carbon emission trading policies • Investment in low carbon technologies 15 Coal Seam Gas • Origin is the largest holder of coal seam gas (CSG) reserves in Australia • Joint Venture with ConocoPhillips announced 8 September 2008 • BG offer rejected – lapsed 24 September 2008
Slide 9: Financial Position
17 Financial Position • Following completion of ConocoPhillips transaction: 25 cent fully franked dividend $1.275 billion on-market share buy-back • Dividend payout ratio to target 60% of underlying earnings 18 9
Slide 10: Managing Director's Address
Chairman’s Address 19 Managing Director’s Managing Director’s Address Address 20 10
Slide 11: Track record of earnings growth and shareholder return
Origin’s results in 2008 continue an impressive track record of underlying earnings growth Revenue EBITDAF Compound annual growth rate: 26% Compound annual growth rate: 23% 9,000 1,500 7,500 1,200 6,000 900 $millions $millions 4,500 600 3,000 300 1,500 0 0 2001 2002 2003 2004 2005 2006 2007 2008 200
Slide 12: Fuel integrated generator and retailer strategy; Otway Gas Project
The continued growth of Origin is based on our strategy of being a fuel integrated generator and retailer of energy Origin continues to invest in assets that grow the business, 23 particularly in the upstream, generation and eventually LNG The Otway Gas Project completed commissioning and commenced
Slide 13: Uranquinty Power Station and capacity expansions
Origin announced the purchase of the Uranquinty Power Station in July 2008 Uranquinty Power Station • The Uranquinty power station is located near Wagga Wagga in NSW • When completed the power station will consist of four 160 MW open cycle gas turbines with a total capacity of 640 MW • Fully complet
Slide 14: Kupe Gas Project and Cullerin Range Wind Farm
Construction of the Kupe Gas Project in New Zealand is progressing well… Kupe Gas Project – offshore platform (yellow) during drilling operations • Origin is the Operator of the Kupe Gas Project and holds a 50% interest • Origin’s share of production will be approximately 10 PJ of gas, 45 ktonnes of
Slide 15: Darling Downs and Mortlake Power Stations
Construction of the 630 MW combined cycle Darling Downs Power Station is well underway… Darling Downs Power Station 29 … with completion targeted in 2010 Darling Downs Power Station The decision to proceed with the 550 MW open cycle Mortlake Power Station in Victoria was announced in July 2008… Mort
Slide 16: Gas storage facility in New Zealand with Contact
Origin and Contact will jointly develop an underground gas storage facility in New Zealand Ahuroa well site 31 Contact is looking to build on its leading renewables position in New Zealand… … by investing up to $2 billion across wind and geothermal 32 developments 16
Slide 17: ConocoPhillips transaction and CSG reserves
The transaction with ConocoPhillips includes all of Origin’s CSG reserves & resources… The transaction also includes: • CSG-related production facilities • Origin’s conventional interests in the Denison Trough • Existing CSG sales contracts to Origin and third parties Some of Origin’s CSG reserves a
Slide 18: ConocoPhillips and Origin CSG production
ConocoPhillips is the leading producer of coal seam gas in the United States • Over 25 years’ working experience in coal seam gas (CSG) • Current production and operations in San Juan and Uinta Basins (USA) and Horseshoe Canyon (Canada) • Largest producer and acreage holder in San Juan Basin Conve
Slide 19: Managing Director's Address
Managing Director’s Managing Director’s Address Address 37 Chairman’s Address 38 19
Slide 20: Resolution 2: Adoption of Remuneration Report
Financial Statements 39 Resolution 2: Adoption of Remuneration Report 40 20
Slide 21: Resolution 2: Proxy votes received
Resolution 2: Adoption of Remuneration Report Proxy votes received: For 396,618,285 Against 23,613,449 Open 14,469,940 Abstain 2,484,846 41 42 21
Slide 22: Resolution 3: Election of Directors
Resolution 3: Election of Directors 43 Bruce Beeren 44 22
Slide 23: Resolution 3: Bruce Beeren proxy votes
Resolution 3: Election of Directors – Bruce Beeren Proxy votes received: For 393,982,416 Against 27,791,959 Open 14,671,304 Abstain 740,841 45 46 23
Slide 24: Resolution 3: Election of Directors
Resolution 3: Election of Directors 47 Kevin McCann 48 24
Slide 25: Resolution 3: Kevin McCann proxy votes
Resolution 3: Election of Directors – Kevin McCann Proxy votes received: For 420,681,607 Against 884,501 Open 14,868,604 Abstain 751,808 49 50 25
Slide 26: Resolution 4: Increase in Non-Executive Directors' fees
Resolution 4: Increase in Non-Executive Directors’ fees 51 Resolution 4: Increase in Non-Executive Directors’ fees Proxy votes received: For 408,877,567 Against 11,997,851 Open 7,070,650 Abstain 1,780,141 52 26
Slide 27: Resolution 5: Renewal of proportional takeover provisions
53 Resolution 5: Renewal of proportional takeover provisions in Constitution 54 27
Slide 28: Resolution 5: Proxy votes received
Resolution 5: Renewal of proportional takeover provisions in Constitution Proxy votes received: For 418,924,903 Against 1,134,889 Open 15,471,738 Abstain 1,654,990 55 56 28
Slide 29: Annual General Meeting
Annual General Meeting 15 October 2008 29