Full Year 2024 Orora Ltd Earnings Call Transcript
Key Points
- Orora Ltd (ASX:ORA) reported a 26% increase in EBIT to $404 million, driven by the acquisition of Saverglass.
- The company's underlying NPAT rose by 10.2% to $223.7 million, reflecting strong financial performance.
- Orora Ltd (ASX:ORA) achieved a significant reduction in lost time injuries (38%) and recordable case injuries (43%), highlighting its commitment to safety.
- The Australasian beverage segment showed resilience with a 2% EBIT growth despite a 2.5% revenue decline.
- The company declared a final ordinary dividend of $0.05 per share, maintaining a dividend payout ratio of 60.5% for the full year.
- Saverglass's performance was below initial expectations, with EBITDA of EUR85.4 million, reflecting continued customer destocking and softness in consumer demand.
- The OPS business saw an 11% revenue decline due to softness in North American manufacturing activity.
- Net finance costs increased by $55.6 million, driven by higher debt levels and base interest rates.
- The ongoing soft demand for Australian commercial wine and beer bottles negatively impacted glass volumes and revenue.
- The company's leverage ratio increased to 2.78 times net debt to EBITDA, slightly above its target range.
Thank you for standing by, and welcome to the Orora Limited FY24 Full Year Results Investor Call. (Operator Instructions)
I would now like to hand the conference over to Mr. Brian Lowe, Managing Director and Chief Executive Officer. Please go ahead.
Good morning and thank you all for joining us today for the Orora Group FY24 Results Presentation. I'm joined by Shaun Hughes, our Chief Financial Officer. Today, Shaun and I will provide you with an overview of our results for FY24 and how they demonstrate Orora's resilience and connection to our long-term strategy.
In addition to the financial and other business highlights, I'll also cover some important activities in relation to our portfolio and the recent takeover approach. At the end of the presentation, I'll conclude with some insights and perspectives for the year ahead, including our outlook statement. And once concluded, we'll be happy to take your questions. Before I start, please take note of the
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