Origin Energy Ltd (ASX: ORG) is Australia's largest energy retailer, controlling about one third of the energy retail market. The company has over 4 million customers. Origin covers products, such as electricity, natural gas and LNG for retail and business customers.
In FY 2017 Origin reported a 19% increase in revenue amounting to $13,646 million. However the loss for FY2017 was $2,223 million, which was a giant increase of 261% from the FY 2016 loss of $615 million.
Underlying or adjusted profit was up 51% to $185 million when excluding the impacts of a $3.1 billion impairment charge. The company also reported underlying earnings per share of 31.3 cents with no final dividend.
In August analysts at Deutsche Bank had a share price target for Origin at $7.
Origin's energy market outlook for 2018 is to achieve underlying EBITDA between $1.7-$1.8 billion, which amounts to a 14%-21% increase.
