Australian oil and gas major Woodside Energy reported its smallest annual underlying profit in three years on Tuesday, hurt by lower realised prices, but maintained…
Australian oil and gas major Woodside Energy reported its smallest annual underlying profit in three years on Tuesday, hurt by lower realised prices, but maintained its 2025 output forecast on expectations of strong demand for liquefied natural gas.
Energy markets were disrupted by significant geopolitical events during the year, with slowing global growth and soft demand from top consumer China further exerting a downward pressure on commodity prices.
Woodside's average realised price for its products was $63.60 per barrel of oil equivalent, down 7% from last year.
That hurt the company's full-year underlying net profit after tax, which fell to $2.88 billion from last year's $3.32 billion. It was Woodside's smallest annual profit since 2021, though it beat the Visible Alpha consensus estimate of $2.83 billion.
On a statutory basis, full-year net profit after tax more than doubled from last year to $3.57 billion.
The company declared a final dividend of 53 cents per share, slightly ahead of the consensus of 51 U.S. cents apiece, but below last year's 60 cents per share.
"The final dividend was also ahead of consensus, which the market should like today," analysts at Citi said in a note.
Shares of Australia's top oil and gas
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