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Woodside Leads the Energy Sector

Leading the group in the Australian energy sector, Woodside energy is showing the resilience of high quality energy stocks on the exchange after its stellar half year results.

Taking the forefront, Woodside Energy tripled its interim dividend from 30 US cents a share in 1H FY21 to US$1.09 in 1H FY22. On today’s exchange rate, this translates to A$1.58 a share to be paid on 6 October.

The highlights of the results can be summarized below:

  • ·Net profit after tax (NPAT) US$1.64 billion, up 417% on the prior corresponding period (pcp)

  • ·Underlying NPAT US$1.82 billion, up 414% pcp

  • ·Earnings before interest, tax, depreciation, and amortisation (EBITDA) US$3.97 billion, up 165% pcp

  • Earnings before interest and tax (EBIT) US$2.98 billion, up 380% pcp

  • Free cash flow US$2.57 billion, up 688% pcp

In June, Woodside completed its merger with BHP Petroleum International Pty Ltd (BHPP). On top of this great merger, the actual prices for Woodside’s oil and gas more than doubled to $96.4 per boe across the expanded portfolio. This included one month of production from the BHPP assets equating to 9.7 million boe.

The interim dividend is the largest interim dividend declared since 2014. The dividend payout ratio is 80% of Woodside’s NPAT for H1 FY22.

CEO Meg O’Neill stated:

“Production for the half year was 19% higher at 54.9 million barrels of oil equivalent, benefiting from the contribution in the month of June of the former BHP assets and improved reliability at our LNG facilities…

This well-timed investment allowed us to supply three LNG cargoes, one condensate cargo and pipeline gas into a strong market, generating $419 million in revenue and delivering additional value to our shareholders.”

Overall, the energy supply glut has been seen globally and the Stock Specialist recommendations such as Woodside Energy has generated brilliant returns for our members.

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