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Highlights
- Orica reports a 77% increase in statutory net profit, reaching AU$525 million, supported by its premium products, blasting technology, and digital solutions.
- EBIT grew by 15% to AU$806 million, with the company forecasting further EBIT growth across its divisions in FY25.
- Orica completed strategic acquisitions and advanced its decarbonisation goals with new emissions abatement technology.
Orica (ASX:ORI), a leading global chemicals and explosives manufacturer, posted a strong rise in profit for the fiscal year ending September 30, driven by higher demand for its premium products, advanced blasting technology, and digital solutions. Statutory net profit after tax surged 77% year-on-year, from AU$296 million to AU$525 million, which included a significant items contribution of AU$115 million. Earnings before interest and taxes (EBIT) also saw a solid increase, climbing 15% to AU$806 million.
The company announced a final dividend of 28 cents per share, bringing the total dividend for the year to 47 cents per share. Orica remains optimistic about its performance outlook, projecting further EBIT growth across each of its divisions in the coming financial year, with capital expenditures anticipated to remain stable, aligning closely with FY24 levels.
Orica highlighted a series of operational successes and strategic advancements that bolstered its performance over the past year. These included the successful turnaround efforts at its manufacturing facilities in Kooragang Island and Yarwun in Australia, as well as its site in Carseland, Canada. The company has also made progress in its decarbonisation strategy, completing the installation of two emissions abatement reactors at its Yarwun plant. This marks the first phase of Orica’s broader initiative to reduce its environmental footprint.
In addition to organic growth, Orica expanded its portfolio through targeted acquisitions, adding U.S.-based chemical producer Cyanco and Canadian geotechnical software provider Terra Insights. These acquisitions are expected to enhance Orica’s capabilities in chemical production and geotechnical solutions, diversifying its business and creating new avenues for growth.
