Origin's Mixed FY26
Origin Energy reports FY26 profit, 30c dividend, balances growth with cyber breach
Key Points
Origin's share of Octopus Energy and Kraken Technologies' underlying EBITDA was a loss of $8 million in FY26, improving from a $88 million loss in FY25.
Octopus Energy customer accounts grew to 19 million in FY26, while Kraken Technologies' contracted customer accounts grew 28% to 95 million.
Kraken/Octopus completed a US$1 billion standalone equity raise in July 2026 at a US$8.65 billion look-through valuation; Origin invested US$210 million and now holds about a 22.7% economic interest across both platforms.
Australia Pacific LNG 2P reserves increased by 332 PJ before production to 9,619 PJ on a 100% basis, with 668 PJ of production reported for FY26.
In July 2026 Origin disclosed a cyber incident with unauthorised access to customer information; the company completed initial notifications and expanded support, including a dedicated contact number, a webpage, and access to specialist identity and cyber support services.
Origin Energy posted a statutory profit of A$1.57 billion for the year ending June 2026, up 6% from the prior year, even as revenue fell to about A$15.6 billion amid weaker energy market conditions, according to Kalkine. The company declared a fully franked final dividend of 30 cents per share, bringing the full-year payout to 60 cents per security.
Underlying profit dropped about 22% from the previous year, Bloomberg reported, but the result still beat analyst estimates. Strong uptake of electric vehicles and home batteries in Australia helped cushion the earnings decline.
Batteries and Retail Drive Earnings Despite Revenue Drop
Origin now has about 1.3 gigawatts of large-scale batteries operational, out of a planned 1.8 GW program. The growing battery fleet, combined with rising EV adoption, helped prop up earnings even as wholesale energy revenue softened, Bloomberg reported.
Underlying EBITDA — earnings before interest, tax, depreciation, and amortisation — came in at roughly A$3.22 billion. Underlying profit landed at about A$1.16 billion. Revenue fell year-on-year to A$15.6 billion, reflecting ongoing headwinds in the energy market, according to Yahoo Finance.
Octopus Energy Narrows Losses as Kraken Hits 95 Million Accounts
Origin's share of Octopus Energy and Kraken Technologies swung closer to breakeven. The combined segment posted an underlying EBITDA loss of just $8 million in FY26, a sharp improvement from an $88 million loss in FY25, according to Kalkine.
Octopus Energy grew its customer base to 19 million accounts globally. Kraken Technologies, the software platform that powers Octopus, expanded its contracted customer accounts by 28% to 95 million. In July 2026, the Kraken/Octopus business completed a US$1 billion equity raise at a US$8.65 billion valuation. Origin invested US$210 million and now holds about a 22.7% economic interest across both platforms.
APLNG Remains a Cash Cow as Gas Reserves Grow
Australia Pacific LNG — Origin's joint venture gas export business — paid out about A$911 million in fully franked dividends to Origin in FY26. That cash flow remains a key pillar of Origin's financial strength, according to Yahoo Finance.
APLNG also grew its gas reserves. Proven and probable reserves rose by 332 petajoules before production, reaching 9,619 PJ on a 100% basis. The venture produced 668 PJ during FY26, showing the asset is both producing at scale and replenishing its reserves, Kalkine reported.
Cyber Breach Hits Customer Data in July 2026
Origin disclosed a cyber incident in July 2026. Hackers gained unauthorised access to customer information. The company completed initial notifications to affected customers and set up a dedicated contact number and webpage to help those impacted, according to Kalkine.
Origin also arranged access to specialist identity and cyber support services for affected customers. The breach adds a reputational risk to an otherwise upbeat earnings report. The company did not disclose how many customers were affected. A dividend reinvestment plan was also outlined alongside the 30-cent final dividend, Yahoo Finance reported.
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