Australian energy retailer Origin Energy has raised its earnings forecast for the 2022-2023 financial year while it awaits a binding takeover bid from two global investment giants.
On Jan. 27, Origin Energy updated its earning forecast by lifting the earnings before interest, tax, depreciation and amortisation (EBITDA) for the current financial year from $500-$650 million (US$356-US$462 million) to $600-$730 million, a roughly 20 percent increase.
The company said the change was due to expected growth in natural gas and electricity gross profit from operating and trading activities and an increase in coal delivery under a previous contract.
Origin Not Affected by Government Coal, Gas Price Caps
At the same time, Origin noted that it would not be affected by the temporary wholesale gas and thermal coal price caps introduced by the federal government last December….