Half Year 2026 Orora Ltd Earnings Call Transcript
Key Points
- Orora Ltd (ORRYY) reported a robust set of results for the first half of 2026, with EBITDA up 14% to $218 million.
- The Cans business experienced strong volume growth of 11.2%, driven by investments in new capacity.
- Operating cash flow increased by 51% to $190 million, demonstrating strong cash management.
- The company completed a $227 million buyback program in 2025 and announced a new $270 million buyback program.
- Orora Ltd (ORRYY) declared an interim dividend of $0.05 per share, reflecting a strong commitment to shareholder returns.
- Global Glass operating conditions remain challenging, with Gawler volumes declining slightly.
- Saverglass revenue was down 2.6%, impacted by mix effects and a $4 million increase in depreciation and amortization.
- The company faced higher interstate freight costs and depreciation, which tempered EBIT growth in the Cans business.
- Saverglass restructuring resulted in $7.8 million after-tax costs, with benefits expected to flow from late FY26.
- The Gawler segment experienced softer than expected volumes in the first half, reflecting ongoing market softness.
Thank you for standing by, and welcome to the Orora Limited fiscal year '26 half year results. (Operator Instructions)
I would now like to hand the conference over to your speaker today, Mr. Brian Lowe, Managing Director and CEO. Please go ahead, Brian.
Thank you. Good morning, everybody. Thanks for joining us today for the Orora Group half year 2026 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 the first half and an update of the operational progress as we reshape the portfolio to be a focused beverage packaging business.
At the end of the presentation, I'll conclude with some insights and perspectives for FY26, including our outlook statement. Once concluded, we'll be happy to take your questions. And before I start, please take note of the important information on slides 2. Turning to slide 4. Today, we'll be delivering the following key messages.
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