Orica delivers uplift in performance

Explosives and blasting technology group Orica has reported strong earnings across all business segments for FY2023.

Statutory Net Profit After Tax (NPAT) was reported as $295.7 million, compared to $60.1 million in the previous year but including $73.3 million of significant items expense after tax.

Underlying EBIT from continuing operations was $698.1 million, up 24 percent on the previous corresponding period before individually significant items.

CEO Sanjeev Gandhi said: “We have delivered another strong performance for the full year with a 24 per cent growth in underlying earnings from continuing operations.

“…Ongoing commercial discipline and strong customer demand for our products and services have driven our performance this year, along with increased adoption and earnings from blasting and digital technologies as customers seek productivity gains and support on achieving their sustainability goals.”

Highlights included:

• Digital Solutions earnings doubled compared to the pcp
• RONA on continuing operations of 12.6 percent, up from 11.4 percent in FY2022
• And the company accelerated Scope 1 and Scope 2 emissions targets and set a new Scope 3 emissions reduction ambition .

Gandhi said: “Our team remains committed to executing our strategy and has delivered improved performance and growth across all segments this year with a continued focus on quality of earnings.”

Picture: Orica