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Orica lifts profit and revenue despite fires and weather challenges


Total sales for the group, which has operations around the world, rose 2 per cent to $2.88 billion, while EBITDA (earnings before interest, tax, depreciation and amortisation) climbed 10 per cent to $479.7 million.

Chief executive Alberto Calderon said Orica had delivered earnings growth and results in line with the targets it had set itself.

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“This is a particularly positive set of operational and financial results, given they come from a period that had severe bushfire and weather issues in Australia, and the first impact of the coronavirus,” he said.

“During the half we also announced the major strategic acquisition of Peru’s leading manufacturer and distributor of industrial explosives, Exsa. We are firmly focused on integrating the terrific team and assets into our business, and realising the significant synergies open to us,” he said.

Mr Calderon said mining would play a crucial role in the global economic recovery from the shock caused by the coronavirus pandemic.

“While it is almost impossible to forecast what will happen in the next six months, we currently expect our volumes in the second half to be somewhere between 10 to 15 per cent below the pre-COVID-19 expected volumes,” he said.



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