Origin Energy Limited (Origin) today announced a Statutory Profit of $794 million for the half year ended 31 December 2011, an increase of $930 million when compared with the $136 million loss reported in the prior corresponding half year.

A number of items contributed to the increase in Statutory Profit, including a higher Underlying Profit, a gain on dilution relating to Australia Pacific LNG, an increase in the fair value of financial instruments, lower impairment of assets and lower transition and transaction costs.

Underlying Profit for the half increased 61 per cent or $185 million to $489 million, when compared with the prior corresponding half year. The acquired NSW energy businesses made a significant contribution to the increase in Underlying Profit, which also benefited from lower exploration expense and higher commodity prices in the Exploration and Production segment.

Financial Highlights Dec 2011 Dec 2010 Change Statutory Profit $794 million ($136) million - Underlying Profit $489 million $304 million up 61% Underlying EBITDA $1,157 million $818 million up 41% Underlying EPS 45.5 cps 33.5 cps¹ up 36% Operating Cash Flow After Tax $736 million $794 million down 7% Interim dividend 25 cps 25 cps steady Capital and APLNG Expenditure $1,036 million $915 million up 13%

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