Origin Energy Ltd Ord (OGFGF) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Okay, good morning, everyone, and welcome to the 2025 half-year results for Origin Energy. I'm Frank Calabria, the CEO of Origin, and I am joined by Tony Lucas today, our CFO, and the rest of the executive leadership team. You'll hear from Tony and I this morning as we work through the introduction, financial results and the operational commentary and guidance. And then what we'll do is we'll open up for questions as we normally do and have an opportunity to ask any question to any member of the team. So the outline set out on page two, and now really looking at page four, the summary of our result. Energy markets is lower in line with guidance expectations that we set at the beginning of the year, financial year that is. APL&G's earnings are up 14%, driven by higher realised prices and increased sales volumes. The LNG trading business has delivered $285 million in EBITDA. That's obviously up significantly and is heading towards the top end of the range of the guidance. And Octopus continues to grow globally across both energy and technology. And from an earnings perspective, the growth has been in the UK retail business. That's been more than offset by investment scaling their energy services business. Think about the origin business and the way we're setting ourselves up for the energy transition and the way we lead through that, really through our asset portfolio and capabilities that we believe are differentiated and continuing to build both so that we can succeed in what is quite a dynamic market. When it comes to retail, we have a leading retail position and tech platforms. They are driving a focus on continuous improvement in customer experience and cost, and we're well on track for our guidance for the cost-to-serve reduction of $100 million to $150 million i...