Origin Energy has announced a $1.43b full-year loss, dragged down by impairments.
The gas and electricity company described the difficult market conditions for the Energy Markets business as ?almost unparalleled? and said it does not reflect the performance of the business, future cash flows, or any impact to future value.
?Overall, I?m pleased with how the business navigated a myriad of challenges from high commodity prices and volatile wholesale energy prices; to fuel supply shortages and multiple weather events, while being able to deliver higher underlying profit and strong cash flow,? said Origin CEO Frank Calabria.
Origin shares have slid more than 6% following the announcement.