Origin Energy Limited · ASX:ORG
Origin Energy — Shareholder Meeting (October 2024)
26 slides from Origin Energy's shareholder meeting presentation, Oct 16, 2024
Slide 1: Chairman's Address
CHAIRMAN’S ADDRESS ANNUAL GENERAL MEETING 16 OCTOBER 2024 It is my pleasure to welcome you all here to Origin’s 25th Annual General Meeting. I also welcome those shareholders joining the meeting via webcast. Twenty-four years ago, at our first AGM, Origin celebrated reaching 1.2 million customers, w
Slide 2: FY24 performance and strategic decisions
More broadly, our performance in FY24 reflects the fruits of strategic decisions taken some years ago, which are now more broadly understood by investment markets. Whether it be the increase in value attributed to our shareholding in Octopus Energy, the progress we are making in re-platforming our r
Slide 3: Octopus Energy, community contribution and governance
Origin’s share of Octopus Energy (UK) Underlying EBITDA was lower than FY23, reflecting lower earnings in the UK retail business following the recovery of higher wholesale prices in tariffs in the prior period. Investment in scaling the international and services business and higher costs associated
Slide 4: Consortium proposal outcome and board renewal
During the lengthy period of engagement, progress against our strategy accelerated and some shareholders’ views of Origin’s underlying value evolved accordingly. This led to the scheme not reaching the requisite shareholder majority. Prior to the shareholder vote the Board also rejected an indicativ
Slide 5: Regulatory certainty for the energy transition
The speed and economic impact of the transition also requires regulatory certainty. Certainty to remove impediments that have resulted in the decline in gas production in southern states, certainty to encourage continued investment in east coast gas supply, certainty and stability of pricing regimes
Slide 6: CEO and Managing Director's Address
CEO AND MANAGING DIRECTOR’S ADDRESS ANNUAL GENERAL MEETING 16 OCTOBER 2024 I would also like to extend a warm welcome to our shareholders here in Sydney, and those joining the webcast. Over the past year, Origin continued to operate in a dynamic and rapidly changing energy landscape. There is consid
Slide 7: Operational performance
Operational performance Moving to operational performance, Underlying EBITDA for the Energy Markets division rose to $1,655 million, an increase of $617 million on the previous year. This result was driven by increased electricity gross profit as higher wholesale costs were recovered following a per
Slide 8: More customers are choosing Origin as their energy retailer
More customers are choosing Origin as their energy retailer, and customer accounts have grown across all key product lines to 4.7 million accounts. Origin has the largest single retail energy customer base in Australia. Our key satisfaction measure, the Customer Happiness Index, increased by 4 per c
Slide 9: Employee engagement and conclusion
Our employee engagement score held steady at 7.7 out of 10 and the number of females in senior leadership positions was 44 per cent. Our ambition is to further improve on these metrics this year. Conclusion In conclusion, Origin’s diverse portfolio, leading customer position, growing renewables and
Slide 10: Chairman's address
Chairman’s address Scott Perkins 16 October 2024
Slide 11: Outline
Outline 1. Reflecting on 25 years of growth 2. Leading the energy transition 3. FY24 performance highlights 4. Supporting communities 5. Concluding remarks 2 16 October 2024 2024 Annual General Meeting
Slide 12: Reflecting on years of growth
Reflecting on 25 years of growth Origin at the time of listing on the ASX* Origin’s business today $750million $17.5billion market capitalisation market capitalisation 1.2million 4.7million** customer accounts customer accounts 2,085 Around 5,500 employees employees *As at February 2000 **As at 30 J
Slide 13: The energy transition
The energy transition • The energy transition needs to accelerate • Origin is playing our part: – Step change in investments in renewables and battery storage projects – Eraring operations extended to August 2027 – Completing the migration of customers to Kraken – Distinctive capabilities in large s
Slide 14: FY24 performance highlights
FY24 performance highlights • Strong operational and financial performance • Increased shareholder distributions: – 55 cents per share in total dividends for FY24 • Accelerating renewables and storage in the portfolio: – Acquisition of Yanco Delta Wind Farm development project – Approved 1.5 GW of o
Slide 15: Supporting communities
Supporting communities 1. Origin Energy Foundation contributed more than $3.8 million to community organisations 2. More than $41.2 million to community organisations since Foundation’s inception in 2010 3. 8,700 volunteer hours by our people 6 16 October 2024 2024 2024Annual AnnualGeneral GeneralMe
Slide 16: Concluding remarks
Concluding remarks • Ongoing progress on Board renewal • Origin well-placed to navigate the energy transition • Board and management confident in Origin’s prospects • Thank you for continued support 7 16 October 2024 2024 Annual General Meeting
Slide 17: CEO's address
C CEO’s address EO’ address Frank Calabria 16 October 2024
Slide 18: Outline
Outline 1. Financial performance 2. Operational performance 3. Outlook 4. Strategy and priorities 5. Conclusion 2 16 October 2024 2024 Annual General Meeting
Slide 19: Financial Performance
Financial Performance Statutory Profit Underlying Profit Origin ROCE (pre-tax)1 $1,397 $1,183 15.2% million million Up from $1,055 million in FY23 Up from $747 million in FY23 Up from 9.6% in FY23 Adjusted Net Debt / Adjusted Underlying EBITDA Final Dividend Underlying EBITDA 1.0x $3,528 27.5cps mil
Slide 20: Operational Performance
Operational Performance Energy Markets Integrated Gas Octopus Energy (UK) EM Underlying EBITDA of IG Underlying EBITDA of Earnings contribution of $1,655 million $1,951 million $55 million in Underlying EBITDA $100 million for energy bill APLNG cash distribution of 73% increase in Kraken licensing r
Slide 21: Outlook - all market guidance remains unchanged
Outlook - all market guidance remains unchanged Summary of FY25 guidance: • Energy Markets Underlying EBITDA expected to be $1,100- $1,400 million • Octopus Energy EBITDA contribution expected to be $100 – $200 million • Australia Pacific LNG production is expected to be 685-710 PJ (100%) • LNG Trad
Slide 22: Our strategy and ambition
Our strategy and ambition Our purpose Getting energy right for our customers, communities and planet Our ambition To lead the energy transition through cleaner energy and customer solutions Our strategic pillars Unrivalled customer Accelerate renewable Deliver reliable energy solutions and cleaner e
Slide 23: Executing on our strategy
Executing on our strategy Unrivalled customer Accelerate renewable Deliver reliable energy solutions and cleaner energy through the transition • Customer accounts grew to • Virtual Power Plant, • Strong cash distributions from 4.7 million Loop, connects more than Australia Pacific LNG 1.4 GW • In Re
Slide 24: Conclusion
Conclusion • Origin is well-placed to capture opportunities in the energy transition. • Our focus: – Executing on our strategy and priorities – Creating sustained value and deliver shareholder returns – Getting energy right for our customers, communities and planet. 8 16 October 2024 2024 Annual Gen
Slide 25: 2024 AGM proxy summary as at proxy close
2024 AGM proxy summary as at proxy close Resolution For Against Proxy’s Discretion Abstain* Resolution 2. Re-election of Ms Ilana Atlas AO 1,211,884,190 98.19% 14,024,376 1.14% 8,270,375 0.67% 1,174,687 Resolution 3. Re-election of Mr Mick McCormack 1,204,512,862 97.61% 21,207,760 1.72% 8,324,807 0.
Slide 26: Thank you
Thank you 9 16 October 2024 2024 Annual General Meeting