Australia · Delayed Price · Currency is AUD Orora Earnings Call Transcripts
Fiscal Year 2026
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Revenue grew 6.5% to AUD 2.2 billion, led by cans, but group EBIT fell 5.3% due to weaker Saverglass results and a major glass impairment. FY27 guidance points to higher cans EBIT, ongoing glass headwinds, and improved free cash flow as CapEx moderates.
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First half FY26 saw strong revenue and EBITDA growth, driven by cans and operational efficiency, with robust cash flow and a solid balance sheet. Major investments in cans and glass are nearing completion, and a new AUD 270 million buyback was announced. FY26 guidance remains positive, with continued focus on cost control and growth initiatives.
Fiscal Year 2025
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AGM covered strong FY 2025 financial results, strategic portfolio realignment, and sustainability progress. Shareholders voted on director elections, CEO incentives, and a constitutional amendment, with Q&A addressing integration, environmental targets, and remuneration.
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Solid FY 2025 results with 24% revenue growth and strong cash flow, driven by cans and Saverglass. Major capacity expansions nearly complete, supporting future growth, while cost actions and network optimization offset challenging glass markets. Outlook for FY 2026 is positive, with higher group EBITDA and cash flow expected.
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Underlying EBIT rose 24.6% to AUD 120.8 million, driven by Saverglass, while Cans and Glass segments showed resilience amid challenging markets. Strong cash flow and a robust balance sheet support ongoing CapEx, buybacks, and dividends, with cautious optimism for volume recovery as order intake improves.
Fiscal Year 2024
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The AGM highlighted strong earnings growth, a strategic shift to focus on beverage packaging, and major portfolio changes including the sale of OPS and acquisition of Saverglass. Sustainability progress, board renewal, and a clear long-term strategy in glass and cans were emphasized.
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Saverglass utilization remains around 60% with inventory reduction ongoing, while margin guidance (excluding freight) is stable at 22%-24%. North America and Mexico show improving demand, and synergies from the Saverglass acquisition are on track. Net debt and gearing are expected to hold steady through FY 2025.