REG - Woodside Energy Grp. - Half-Year 2024 line-item guidance

Woodside EnergyAnnouncement

15/08/2024 07:00

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RNS Number : 5493A  Woodside Energy Group Ltd  15 August 2024

Woodside Energy Group Ltd

ACN 004 898 962

Mia Yellagonga

11 Mount Street

Perth WA 6000

Australia

T +61 8 9348 4000

www.woodside.com

 

ASX: WDS

NYSE: WDS

LSE: WDS

 

Announcement

 

Thursday, 15 August 2024

 

HALF-YEAR 2024 LINE-ITEM GUIDANCE

 

Woodside's 2024 Half-Year results are scheduled for release on Tuesday, 27
August 2024. This announcement contains line-item guidance and other
information relevant to the 2024 Half-Year results.

 

2024 Half-Year line-item guidance 1 

 

                                                                  Statutory  Underlying      Comment
 Production costs                                      $ million  710 - 780
 Royalties, excise                                     $ million  180 - 210

and levies
 Oil and gas properties depreciation and amortisation  $ million  1,850 - 1,950              Excludes depreciation of lease assets.
 Other income                                          $ million  250 - 380                  Includes profit on Scarborough sell-down to LNG Japan.
 Net finance cost                                      $ million  50 - 55
 PRRT expense                                          $ million  150 - 230
 Income Tax expense                                    $ million  100 - 200  400 - 500       Half-Year 2024 statutory income tax includes the first-time recognition of a
                                                                                             net Deferred Tax Asset (DTA) for the Sangomar project and other tax accounting
                                                                                             adjustments. These adjustments in aggregate have materially reduced the HY24
                                                                                             statutory and underlying effective income tax rate (EITR).

                                                                                             The underlying income tax guidance excludes the impact of the Sangomar DTA.

 

Due to these tax accounting adjustments, Woodside's Half-Year 2024 statutory
and underlying EITR is expected to be materially lower than the Full-Year 2023
(FY23) statutory global operations EITR of 27.5% and FY23 underlying global
operations EITR of 31%. There is no impact from these adjustments on
Woodside's Half-Year 2024 tax payments.

2024 Half-Year results and teleconference

 

·      Woodside's Half-Year Report 2024 and associated investor
presentation will be released to the market on Tuesday, 27 August 2024. It
will also be available on Woodside's website at www.woodside.com
(http://www.woodside.com) .

·      A teleconference providing an overview of the 2024 half-year
results and a question-and-answer (Q&A) session will be hosted by CEO and
Managing Director, Meg O'Neill, and Chief Financial Officer, Graham Tiver, on
Tuesday, 27 August at 08:00 AWST / 10:00 AEST / 19:00 CDT (Monday, 26 August).

·      We recommend participants pre-register 5 to 10 minutes prior to
the event with one of the following links:

o  https://webcast.openbriefing.com/wds-hyr-2024/
(https://webcast.openbriefing.com/wds-hyr-2024/) to view the presentation and
listen to a live stream of the Q&A session

o  https://s1.c-conf.com/diamondpass/10038919-jg987y.html
(https://s1.c-conf.com/diamondpass/10038919-jg987y.html) to participate in the
Q&A session. Following pre-registration, participants will receive the
teleconference details and a unique access passcode.

 

 

 

 Contacts:

 INVESTORS                                                 MEDIA

 Marcela Louzada                                           Christine Forster

 M: +61 456 994 243                                        M: +61 484 112 469

 E: investor@woodside.com (mailto:investor@woodside.com)   E: christine.forster@woodside.com (mailto:Christine.forster@woodside.com)

 

 

This announcement was approved and authorised for release by Woodside's
Disclosure Committee.

 

Forward-looking statements

 

This announcement contains forward-looking statements with respect to
Woodside's business and operations, market conditions, results of operations
and financial condition.

All statements, other than statements of historical or present facts, are
forward-looking statements and generally may be identified by the use of
forward-looking words such as 'guidance', 'indicative', 'foresee', 'likely',
'potential', 'anticipate', 'believe', 'aim', 'aspire', 'estimate', 'expect',
'intend', 'may', 'target', 'plan', 'strategy', 'forecast', 'outlook',
'project', 'schedule', 'will', 'should', 'seek'  and other similar words or
expressions. Similarly, statements that describe the objectives, plans, goals
or expectations of Woodside are forward-looking statements.

Forward-looking statements in this announcement are future expectations that
are based on management's current expectations and assumptions. Those
statements and any assumptions on which they are based are subject to change
without notice and are subject to inherent known and unknown risks,
uncertainties, assumptions and other factors, many of which are beyond the
control of Woodside, its related bodies corporate and their respective
officers, directors, employees, advisers or representatives. If any of the
assumptions on which a forward-looking statement is based were to change or be
found to be incorrect, this would likely cause outcomes to differ from the
statements made in this announcement.

A detailed summary of the key risks relating to Woodside and its business can
be found in the "Risk" section of Woodside's most recent Annual Report
released to the Australian Securities Exchange and the London Stock Exchange
and in Woodside's most recent Annual Report on Form 20-F filed with the United
States Securities and Exchange Commission and available on the Woodside
website at https://www.woodside.com/investors/reports-investor-briefings. You
should review and have regard to these risks when considering the information
contained in this announcement.

All information included in this announcement, including any forward-looking
statements, reflects Woodside's views held as at the date of this announcement
and, except as required by law or regulation, neither Woodside, its related
bodies corporate, nor any of their respective officers, directors, employees,
advisers or representatives intends to, undertakes to, or assumes any
obligation to, provide any additional information or update or revise any
information or forward-looking statements in this announcement after the date
of this announcement, either to make them conform to actual results or as a
result of new information, future events, changes in Woodside's expectations
or otherwise.

Investors are strongly cautioned not to place undue reliance on any
forward-looking statements.

 

Announcement contains inside information

This announcement contains inside information. Marcela Louzada, Vice President
Investor Relations, is responsible for release of this announcement.

 

(( 1 )) The presentation of these line-items aligns to the A.1 Segment Revenue
and expenses note. Please refer to pages 117 to 119 in the 2023 Annual Report
for further information. The line-item guidance provided above is indicative
and subject to external auditor review processes.

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