Reported Earnings • 17h
First half 2026 earnings: Revenues exceed analysts expectations while EPS lags behind First half 2026 results: EPS: AU$0.081 (up from AU$0.019 in 1H 2025). Revenue: AU$1.64b (up 9.2% from 1H 2025). Net income: AU$144.5m (up 298% from 1H 2025). Profit margin: 8.8% (up from 2.4% in 1H 2025). Revenue exceeded analyst estimates by 5.9%. Earnings per share (EPS) missed analyst estimates by 86%. Revenue is expected to decline by 2.8% p.a. on average during the next 3 years, while revenues in the Chemicals industry in Australia are expected to grow by 5.9%. Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Notizie in diretta • 17h
Dyno Nobel Reports 39% EBIT Growth and Refocuses on Explosives After Fertilizers Separation Dyno Nobel reported EBIT of $243 million for the first half of 2026, which the company described as a 39% increase.
The company completed the separation of its fertilizers business, positioning Dyno Nobel as a pure-play explosives company.
North American operations were highlighted as a key earnings driver, with the company citing a 42% gain in earnings on the back of customer wins and demand.
The shift to a focused explosives business, combined with the EBIT uplift and North American earnings contribution, indicates that management is placing greater emphasis on core blasting products and services.
Investors may want to monitor how sustainable the current demand trends are in North America and how the new, simplified structure affects margins and capital allocation over the next few reporting periods. Buy Or Sell Opportunity • Mar 17
Now 21% overvalued Over the last 90 days, the stock has fallen 4.7% to AU$3.05. The fair value is estimated to be AU$2.52, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 13% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to decline by 2.9% per annum. Earnings are forecast to grow by 16% per annum over the same time period. Major Estimate Revision • Mar 11
Consensus EPS estimates fall by 13% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from AU$3.92b to AU$3.69b. EPS estimate also fell from AU$0.265 per share to AU$0.231 per share. Net income forecast to grow 174% next year vs 47% growth forecast for Chemicals industry in Australia. Consensus price target down from AU$3.59 to AU$3.43. Share price fell 10% to AU$2.99 over the past week. Annuncio • Jan 26
Dyno Nobel Limited, Annual General Meeting, Dec 17, 2026 Dyno Nobel Limited, Annual General Meeting, Dec 17, 2026. Annuncio • Dec 18
Dyno Nobel Limited (ASX:DNL) announces an Equity Buyback for 250,000,000 shares, representing 13.99% for AUD 740 million. Dyno Nobel Limited (ASX:DNL) announces a share repurchase program. Under the plan, the company will repurchase up to 250,000,000 shares, representing 13.99% for AUD 740 million. The repurchase program is valid till December 16, 2026. As of December 17, 2025, the company had 1,787,087,654 shares issued. Recent Insider Transactions Derivative • Dec 03
MD, CEO & Director exercised options to buy AU$596k worth of stock. On the 26th of November, Mauro de Moraes exercised options to buy 180k shares at a strike price of around AU$3.43, costing a total of AU$618k. This transaction amounted to 145% of their direct individual holding at the time of the trade. Since March 2025, Mauro has owned 124.17k shares directly. Company insiders have collectively bought AU$962k more than they sold, via options and on-market transactions, in the last 12 months. Major Estimate Revision • Nov 18
Consensus EPS estimates increase by 11%, revenue downgraded The consensus outlook for fiscal year 2026 has been updated. 2026 revenue forecast fell from AU$3.97b to AU$3.92b. EPS estimate rose from AU$0.237 to AU$0.264. Net income forecast to grow 207% next year vs 15% growth forecast for Chemicals industry in Australia. Consensus price target up from AU$3.30 to AU$3.51. Share price fell 2.9% to AU$3.33 over the past week. Declared Dividend • Nov 12
Final dividend of AU$0.095 announced Shareholders will receive a dividend of AU$0.095. Ex-date: 1st December 2025 Payment date: 16th December 2025 Dividend yield will be 3.4%, which is about the same as the industry average. Sustainability & Growth Dividend is not covered by earnings (150% earnings payout ratio) nor is it covered by cash flows (213% cash payout ratio). The dividend has increased over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 67% to bring the payout ratio under control. EPS is expected to grow by 60% over the next 3 years, which means the dividend may need to be reduced to reach a sustainable payout ratio. New Risk • Nov 10
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. The company is paying a dividend despite being loss-making. Cash payout ratio: 156% Dividend yield: 2.5% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Cash payout ratio: 156% Minor Risk Large one-off items impacting financial results. Price Target Changed • Oct 02
Price target increased by 8.0% to AU$3.28 Up from AU$3.04, the current price target is an average from 10 analysts. New target price is approximately in line with last closing price of AU$3.21. Stock is up 7.0% over the past year. The company is forecast to post earnings per share of AU$0.16 next year compared to a net loss per share of AU$0.25 last year. Upcoming Dividend • Jun 06
Upcoming dividend of AU$0.024 per share Eligible shareholders must have bought the stock before 13 June 2025. Payment date: 03 July 2025. The company is not currently making a profit and its cash payout ratio is 82%. Trailing yield: 4.0%. Lower than top quartile of Australian dividend payers (6.1%). Higher than average of industry peers (2.3%). Declared Dividend • May 14
First half dividend reduced to AU$0.024 Dividend of AU$0.024 is 44% lower than last year. Ex-date: 13th June 2025 Payment date: 3rd July 2025 Dividend yield will be 3.3%, which is lower than the industry average of 3.5%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is covered by cash flows (82% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Reported Earnings • May 13
First half 2025 earnings: EPS and revenues miss analyst expectations First half 2025 results: EPS: AU$0.019 (up from AU$0.04 loss in 1H 2024). Revenue: AU$1.61b (down 1.3% from 1H 2024). Net income: AU$36.1m (up AU$113.8m from 1H 2024). Profit margin: 2.2% (up from net loss in 1H 2024). Revenue missed analyst estimates by 7.5%. Earnings per share (EPS) also missed analyst estimates by 92%. Revenue is expected to decline by 2.3% p.a. on average during the next 3 years, while revenues in the Chemicals industry in Australia are expected to grow by 13%. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 87 percentage points per year, which is a significant difference in performance. Annuncio • May 12
Dyno Nobel Limited Declares Interim Dividend for the Six Months Ended March 31, 2025, Payable on July 3, 2025 Dyno Nobel Limited announced that Since the end of the half-year, the directors have determined to pay an interim dividend of 2.4 cents per share for a period of six months ended March 31, 2025, unfranked, to be paid on 3 July 2025. The total dividend payment will be $44.7 million. Ex Date is June 13, 2025. Record Date is June 16, 2025. Annuncio • Apr 02
Dyno Nobel Limited Appoints Chief Financial Officer Changes, Effective 1 July 2025 Dyno Nobel Limited announced that Mr. Nitesh Naidoo has been appointed as Chief Financial Officer (CFO), commencing with Dyno Nobel on 1 July 2025. Nitesh joins Dyno Nobel from Vocus Group, where he is Chief Executive - Consumer Division and the former Group Chief Financial Officer. Nitesh has extensive experience in finance, strategy, investor relations and corporate development. Damian Buttler will remain Interim CFO until 1 July 2025 and then revert to his previous role of Group Financial Controller. Annuncio • Feb 11
Incitec Pivot Limited, Annual General Meeting, Dec 17, 2025 Incitec Pivot Limited, Annual General Meeting, Dec 17, 2025. Upcoming Dividend • Nov 29
Upcoming dividend of AU$0.063 per share Eligible shareholders must have bought the stock before 03 December 2024. Payment date: 18 December 2024. The company is not currently making a profit and is not cash flow positive. Trailing yield: 3.3%. Lower than top quartile of Australian dividend payers (6.0%). Higher than average of industry peers (2.3%). Annuncio • Nov 15
Incitec Pivot Limited (ASX:IPL) announces an Equity Buyback for AUD 400 million worth of its shares. Incitec Pivot Limited (ASX:IPL) announces a share repurchase program. Under the plan, the company will repurchase up to AUD 400 million worth of shares. The repurchase program is valid till November 28, 2025. As of November 15, 2024, the company had 1,892,101,721 shares issued. Declared Dividend • Nov 13
Dividend of AU$0.063 announced Shareholders will receive a dividend of AU$0.063. Ex-date: 3rd December 2024 Payment date: 18th December 2024 Dividend yield will be 12%, which is higher than the industry average of 3.5%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months and having no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Annuncio • Nov 12
Jarden Reportedly Tapped for Incitec Pivot Fertiliser Sale Incitec Pivot Limited (ASX:IPL)'s freshly appointed management has brought in a new investment bank to handle the sale of the distribution arm of its fertiliser business as looks to clear the decks and focus on its future as a mining explosives play. The move to break up the fertiliser unit and sell off the distribution arm was first flagged by DataRoom and announced when the company delivered its annual result on 11 November 2024. It came as the company wiped $941 million off the valuation of the Australian Incitec Pivot fertiliser division. The bank being added to the ticket is Jarden. The move comes as new boss Mauro Neves de Moraes takes over. UBS and Macquarie Capital have previously made efforts to sell the fertiliser business and Macquarie still has a role. This time, though, it appears that the group is motivated to move it off its books and look to a future focused on its more successful commercial explosives operation Dyno Nobel, so it is expected to take a realistic approach to price. Former Incitec Pivot management held out for top dollar when trying to sell its fertiliser unit twice before, and opposed a business break-up. Most buyers were keen to buy the distribution arm and few were interested in taking on the more problematic manufacturing operation. But now, with distribution available separately, the sale process is likely to involve plenty of competitive tension. Australian listed trade buyers like Elders Limited (ASX:ELD) and Ridley Corporation Limited (ASX:RIC) and global strategics like The Mosaic Company (NYSE:MOS), CF Industries Holdings, Inc. (NYSE:CF) and Nutrien Ltd. (TSX:NTR), which has a major Australian presence, will be going head to head with private equity firms like Pacific Equity Partners and BGH Capital, which have been sounded out by investment bankers in recent months. It's clear the market is in favour of the decision, with shares closing higher, despite a thumping $311 million loss and an overall $1 billion writedown to the fertiliser unit. The writedown included $100m for its US operations Most of the rest was linked to the Australian manufacturing operations. The sale process will get going in earnest early next year. The book value is now $414.3 million, compared to more than $1 billion in the past. Private equity in the past has put forward offers of less than $500 million for the fertiliser business, but that was when manufacturing was also part of the picture, although they will be still keen to snap up the operation at an opportunistic price. Annuncio • Nov 11
Incitec Pivot to Revive Fertiliser Business Sale Campaign The $6 billion listed industrials group Incitec Pivot Limited (ASX:IPL) is set to announce a revived sale process for its fertiliser business when it reports annual earnings on November 11, 2024 and is prepared to break up the division, valued at $1.1 billion. It confirms earlier reports in DataRoom that a fresh sale process would start in 2025 with private equity funds such as Pacific Equity Partners positioning to buy the business. Incitec Pivot is increasingly keen to distance itself from the fertiliser business and carry on as a pure-play explosives and industrial chemicals manufacturer, and has signalled this to investors. It has tried to sell the business before. There has been some informal interest from strategic players, with suggestions that groups such as Ridley or Nutrien may be keen to buy Incitec Pivot's distribution assets. Strategic buyers include Nutrient, CF Industries Holdings, Inc. (NYSE:CF) and The Mosaic Company (NYSE:MOS). Incitec Pivot held talks with Indonesia's Pupuk Kaltim for a sale of the unit earlier this year for a price thought to be more than $1 billion, but there was no deal. Morningstar says the fertiliser unit accounts for about a third of the stock's fair value - which means it comes in at about $1.2 billion. The sale comes as KPMG has been tapped to sell smaller rival Wengfu Australia. Wengfu distributes fertiliser along the east coast, with assets in Brisbane, Newcastle, Geelong, Portland and Adelaide. Market sources say that it is expected to sell for between $50 million and $80 million. However, if it sold for a similar price to the Incitec Pivot unit it would be closer to $200 million. Its parent company is Guizhou Phosphate and Chemical Group. The understanding is a data room is open. There are three overseas buyers but no domestic interest. The deal is likely to be completed in the first half of 2025. Reported Earnings • Nov 11
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: AU$0.25 loss per share (down from AU$0.14 profit in FY 2023). Revenue: AU$5.41b (flat on FY 2023). Net loss: AU$477.7m (down 273% from profit in FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates. Revenue is forecast to stay flat during the next 3 years compared to a 11% growth forecast for the Chemicals industry in Australia. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 69 percentage points per year, which is a significant difference in performance. Annuncio • Oct 18
PEP Reportedly May Look at Incitec Pivot Arm Pacific Equity Partners is believed to be positioning itself to weigh a purchase of the fertiliser arm of Australian listed industrials group Incitec Pivot Limited (ASX:IPL) when it returns to the market. The understanding is that Incitec Pivot is believed to be formally re-launching the sale process for its chemicals unit next year, given the volume of deals currently unfolding in the market attracting buyout funds. DataRoom reported that BGH Capital has been reconsidering the business and recently had some informal talks after it put in an opportunistic offer of about $400 million the first time it was up for sale, so it appears that this time around, private equity could be dominating the field. Some market observers suspect that with the latest developments, the group is becoming increasingly keen to distance itself from the business and carry on life as a pure play explosives and industrial chemicals manufacturer. It comes after a couple of previous formal attempts to sell the unit through sales campaigns, and it's likely existing advisers Macquarie Capital and UBS would be running the auction. Incitec Pivot held talks with Indonesia's Pupuk Kaltim for a sale of the unit earlier this year for a price speculated to be over $1bn, but they did not result in a deal. Sydney-based PEP has been active in the Australian market of late, considering plenty of acquisition opportunities including the Healius diagnostic imaging unit, aged care business Opal, Guardian Childcare and Education, I-MED and Waste Services Group. It comes as it weighs options, including a possible sale or equity injection for its $2bn Zenith Energy. Annuncio • Oct 14
BGH Capital Reportedly Eyes to Acquire Fertiliser Unit of Incitec Pivot As BGH Capital continues to eye up acquisition opportunities, one of the more interesting targets it has turned its attention back to is understood to be the fertiliser unit of Incitec Pivot Limited (ASX:IPL). The Melbourne-based private equity firm looked at the unit when it was placed up for sale by Macquarie Capital and UBS before the global pandemic hit in 2020. However, it was only ever interested in offering up to $400 million, far below the company's price expectations that were closer to $1 billion, say sources. But it is understood that those around the company have been paying a visit to private equity shops in the past few months after calling off a sale to Indonesian buyer Pupuk Kaltim. However, the market chatter is that while BGH is understood to have revisited the opportunity, it's not thought to have been fully convinced it is an opportunity worth pouncing on. DataRoom reported last month that there was activity once again around the $6 billion Incitec Pivot with some expecting the fertilisers business to be broken up and sold off in parts. Nutrien would be the obvious buyer, while Elders may look along with Ridley, but they would likely only want its distribution operations rather than the manufacturing arm, which is now only a small part of the business and is mainly involved in the blending process of fertiliser rather than manufacturing it from scratch. When it was previously on the market, parties put in offers for parts of the fertiliser business, hoping to cherry pick assets such as its up-country blending facilities. Morningstar says the fertiliser unit accounts for about a third of its fair value estimate on the stock or about $1.20 per share, which puts a value on the unit at about $1.2 billion. Annuncio • Oct 08
Paul Victor to Leave the Incitec Pivot Limited as Chief Financial Officer, Effective 15 February 2025 Incitec Pivot Limited announced that Paul Victor, Chief Financial Officer (CFO) has informed the Company of his intention to leave IPL. Paul will continue as CFO until 15 February 2025 to deliver the FY24 results and to support an orderly transition while an executive search for a new CFO is undertaken. Annuncio • Jul 18
Incitec Pivot Limited Announces the Appointment of Fiona Hick as an Independent Non-Executive Director, Effective 1 September 2024 Incitec Pivot Limited announced the appointment of Ms. Fiona Hick as an independent non-executive director to the IPL Board, with effect from 1 September 2024. Fiona Hick will stand for election at IPL’s 2024 Annual General Meeting, scheduled to be held on 19 December 2024. Fiona Hick Fiona Hick has held executive and leadership roles in the energy and mining industries over a 29-year career with Fortescue Metals Group Limited, Woodside Energy Group Limited and Rio Tinto Limited. Most recently Fiona was the Chief Executive Officer of Fortescue Metals Group. Prior to this, Fiona held several executive and operational leadership roles with Woodside Energy, where she spent over 20 years. She was promoted to Executive Vice President of Operations from late 2019 – 2022, following her roles as Vice President Strategy, Planning and Analysis in 2019 and Vice President Health, Safety, Environment and Quality from 2016 – 2018. She held strategy, governance and engineering related roles from 2001 – 2016. Prior to Woodside Energy, Fiona spent 5 years in corporate and operational roles at Rio Tinto. Fiona is a non-executive director of Evolution Mining Limited, appointed in July 2024. Fiona has been the President and Chair of the Advisory Board for the Chamber of Minerals and Energy, Western Australia. She was a non-executive director of CO2CRC Limited and a Strategic Resources Committee member of the University of Western Australia. Fiona holds a Bachelor of Metallurgical and Materials Engineering (Hons) from the University of Western Australia and a Bachelor of Applied Science in Energy and Carbon Studies from Murdoch University. She is a graduate of the Australian Institute of Company Directors, a fellow of the Institute of Engineers Australia, and a member of Chief Executive Women. She has won several industry awards, including the Chamber of Minerals and Energy, Western Australia’s Outstanding Woman in Resources award in 2019, and the Institute of Chemical Engineers Global Process Safety Award to the Woodside Energy team under Fiona’s leadership in 2018. Annuncio • Jul 11
Incitec Pivot Ltd Ceases Negotiations for Sale of Fertilisers Business Incitec Pivot Limited (ASX:IPL) ceased negotiations for sale of fertilisers business. The company ceased negotiations with PT Pupuk Kalimantan Timur for sale of its fertilisers business. Upcoming Dividend • Jun 06
Upcoming dividend of AU$0.043 per share Eligible shareholders must have bought the stock before 13 June 2024. Payment date: 04 July 2024. The company is not currently making a profit and there are not enough cash flows to support it either. Trailing yield: 5.1%. Lower than top quartile of Australian dividend payers (6.4%). Higher than average of industry peers (2.3%). Declared Dividend • May 18
Dividend of AU$0.043 announced Shareholders will receive a dividend of AU$0.043. Ex-date: 13th June 2024 Payment date: 4th July 2024 Dividend yield will be 12%, which is higher than the industry average of 3.5%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. The dividend is also not covered by cash flows (336% cash payout ratio). The dividend has increased by an average of 5.0% per year over the past 10 years. However, payments have been volatile during that time. Reported Earnings • May 16
First half 2024 earnings released: AU$0.15 loss per share (vs AU$0.066 profit in 1H 2023) First half 2024 results: AU$0.15 loss per share (down from AU$0.066 profit in 1H 2023). Revenue: AU$2.47b (down 6.1% from 1H 2023). Net loss: AU$289.4m (down 325% from profit in 1H 2023). Revenue is forecast to stay flat during the next 3 years compared to a 9.6% growth forecast for the Chemicals industry in Australia. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 8% per year, which means it is tracking significantly ahead of earnings growth. Annuncio • Feb 08
Incitec Pivot Limited Announces Resignation of Xiaoling Liu as Non-Executive Director, Effective 31 May 2024 Incitec Pivot Limited (IPL) announced that Dr Xiaoling Liu has signalled her intention to resign as a non-executive director of IPL, effective 31 May 2024. Xiaoling has been a director of IPL since 25 November 2019 and has served on the Audit and Risk Management Committee and the Health, Safety, Environment and Community Committee since her appointment. Annuncio • Jan 25
Incitec Pivot Limited Announces Special Dividend, Payable on February 8, 2024 Incitec Pivot Limited announced special dividend of AUD 0.10170000 per share. Record date is February 1, 2024. Ex-date is January 31, 2024.Payable on February 8, 2024. Annuncio • Dec 02
CF Industries Holdings, Inc. (NYSE:CF) completed the acquisition of Ammonia Production Facility and Business in Waggaman, Louisiana of from Incitec Pivot Limited (ASX:IPL). CF Industries Holdings, Inc. (NYSE:CF) entered into an agreement to acquire Ammonia Production Facility and Business in Waggaman, Louisiana of from Incitec Pivot Limited (ASX:IPL) for $1.7 billion on March 20, 2023. Under the terms of the agreement, CF Industries will purchase IPL’s ammonia production complex located in Waggaman, Louisiana and the ammonia manufacturing business for a purchase price of $1.675 billion, subject to adjustment. The parties will allocate approximately $425 million of the purchase price to a long-term ammonia offtake agreement providing for an affiliate of CF Industries to supply up to 200,000 tons of ammonia per year to an affiliate of IPL. CF Industries expects to fund the remaining $1.25 billion of the purchase price with cash on hand. CF Industries has agreed to pay IPL a termination fee of $75 million if the Agreement is terminated in certain circumstances and certain regulatory approvals are not obtained. As of November 15, 2023, CF Industries announced the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act.
The consummation of the transaction is subject to the satisfaction or waiver of customary conditions, including, among others, the expiration or early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, and receipt of certain regulatory approvals. The transaction has been unanimously approved by the boards of directors of both companies. As of November 1, 2023, the transaction is expected to close on December 1, 2023. Goldman Sachs & Co. LLC is serving as the financial advisor to CF Industries on the transaction. Richard C. Witzel,Jr. of Skadden, Arps, Slate, Meagher & Flom LLP is acting as its legal advisor. Ryan Maierson and Lauren Anderson of Latham?& Watkins LLP are acting as legal advisor to IPL. IPL engaged J.P. Morgan Securities LLC as financial advisor. Ernst & Young Australia acted as financial advisor and due diligence provider to Incitec Pivot Limited (ASX:IPL).
CF Industries Holdings, Inc. (NYSE:CF) completed the acquisition of Ammonia Production Facility and Business in Waggaman, Louisiana of from Incitec Pivot Limited (ASX:IPL) on December 1, 2023. Upcoming Dividend • Nov 27
Upcoming dividend of AU$0.05 per share at 5.3% yield Eligible shareholders must have bought the stock before 04 December 2023. Payment date: 19 December 2023. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 5.3%. Lower than top quartile of Australian dividend payers (7.1%). Higher than average of industry peers (3.7%). Annuncio • Nov 14
Incitec Pivot Limited Announces Board Changes Incitec Pivot Limited announced that Mr. Brian Kruger has stepped down as IPL Chairman and as a non-executive director immediately, due to personal reasons. The Board has appointed current non-executive director Mr. Greg Robinson to succeed Brian, with the change taking effect on 11 November 2023. Brian has been a director of IPL since June 2017 and was appointed Chairman of the Board in July 2019. During his tenure as Chairman, the Company has delivered sustained earnings for shareholders through the challenges of the COVID-19 pandemic and a changing geopolitical landscape. Brian has steered the Company's strategy to separate IPL's two industry leading businesses, and significant achievements for the Company during Brian's tenure include the sale of the Waggaman ammonia manufacturing facility in the US (and securing long term ammonia supply for the Dyno Nobel Americas business), the successful partnership with Perdaman for a 20-year urea offtake arrangement, development of industry leading product technologies, as well as IPL's clear roadmap for decarbonisation. Greg joined the IPL Board in November 2019 and has been the Chairman of the Remuneration Committee, member of the Audit and Risk Management Committee and member of the Nominations Committee. Greg has extensive experience in the resources and finance industries, having held senior executive roles at Newcrest Mining, BHP, Lattice Energy and Merrill Lynch, spanning over 30 years. Greg remains a non-executive director of Royal Automobile Club of Victoria (RACV) Limited and Rex Minerals Limited. IPL also announced that Mr. George Biltz has advised that he will not seek re-election as a non-executive director at the next Annual General meeting and will retire from the IPL Board at the conclusion of IPL's 2023 Annual General Meeting to be held on 20 December 2023. Annuncio • Nov 13
Incitec Pivot Limited to Report Fiscal Year 2023 Final Results on Nov 20, 2023 Incitec Pivot Limited announced that they will report fiscal year 2023 final results on Nov 20, 2023 Reported Earnings • Nov 13
Full year 2023 earnings: EPS misses analyst expectations Full year 2023 results: EPS: AU$0.14 (down from AU$0.52 in FY 2022). Revenue: AU$5.53b (down 14% from FY 2022). Net income: AU$276.3m (down 73% from FY 2022). Profit margin: 5.0% (down from 16% in FY 2022). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 47%. Revenue is forecast to stay flat during the next 3 years compared to a 8.4% growth forecast for the Chemicals industry in Australia. Over the last 3 years on average, earnings per share has increased by 51% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Annuncio • Jul 14
Incitec Pivot Updates on Structural Separation of Fertilisers Business Incitec Pivot Limited (ASX:IPL) provided an update on the proposed structural separation of Incitec Pivot Fertilisers Pty Ltd. and Dyno Nobel Pty Limited with the intention to create two industry leading businesses. IPL notes there has been speculation that it may be considering a potential sale of its fertilisers business. IPL confirms that it has received a number of approaches for the potential acquisition of its fertilisers business. The Board's assessment of a potential sale is being considered alongside the proposed demerger, which remains a strategic priority for the Board. The Board will continually assess all options to ensure shareholder value is maximised. Discussions are incomplete, and there is no certainty that any agreement will be reached or that any sale transaction will occur. Upcoming Dividend • Jun 08
Upcoming dividend of AU$0.10 per share at 9.5% yield Eligible shareholders must have bought the stock before 15 June 2023. Payment date: 04 July 2023. Payout ratio is a comfortable 61% and this is well supported by cash flows. Trailing yield: 9.5%. Within top quartile of Australian dividend payers (7.6%). Higher than average of industry peers (5.1%). Major Estimate Revision • May 23
Consensus EPS estimates fall by 15% The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate fell from AU$0.379 to AU$0.322 per share. Revenue forecast steady at AU$6.12b. Net income forecast to shrink 33% next year vs 4.8% growth forecast for Chemicals industry in Australia . Consensus price target down from AU$3.87 to AU$3.47. Share price fell 5.0% to AU$3.03 over the past week. Annuncio • May 19
Incitec Pivot Limited Announces Dividend for the Six Months Ended March 31, 2023, Payment Date of July 4, 2023 Incitec Pivot Limited announced dividend of AUD 0.10000000 for the six months ended March 31, 2023. Record date is June 15, 2023; ex-date is June 15, 2023; and payment date is July 4, 2023. Price Target Changed • May 18
Price target decreased by 9.8% to AU$3.50 Down from AU$3.87, the current price target is an average from 10 analysts. New target price is 16% above last closing price of AU$3.02. Stock is down 21% over the past year. The company is forecast to post earnings per share of AU$0.34 for next year compared to AU$0.52 last year. Reported Earnings • May 18
First half 2023 earnings released: EPS: AU$0.066 (vs AU$0.20 in 1H 2022) First half 2023 results: EPS: AU$0.066 (down from AU$0.20 in 1H 2022). Revenue: AU$2.67b (up 4.0% from 1H 2022). Net income: AU$128.8m (down 67% from 1H 2022). Profit margin: 4.8% (down from 15% in 1H 2022). The decrease in margin was driven by higher expenses. Revenue is expected to decline by 3.1% p.a. on average during the next 3 years, while revenues in the Chemicals industry in Australia are expected to grow by 11%. Over the last 3 years on average, earnings per share has increased by 74% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Jan 31
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 11%. The fair value is estimated to be AU$4.33, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 67%. For the next 3 years, revenue is forecast to decline by 4.3% per annum. Earnings is also forecast to decline by 19% per annum over the same time period.