Declared Dividend • May 20
First half dividend of AU$0.28 announced Shareholders will receive a dividend of AU$0.28. Ex-date: 21st May 2026 Payment date: 3rd July 2026 Dividend yield will be 3.4%, which is lower than the industry average of 6.1%. Sustainability & Growth Dividend is not covered by earnings (114% earnings payout ratio). However, it is covered by cash flows (57% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 27% to bring the payout ratio under control. EPS is expected to grow by 92% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Board Change • May 20
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 5 experienced directors. 2 highly experienced directors. Chairman of the Board Vik Bansal was the last director to join the board, commencing their role in 2025. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Aankondiging • Jul 09
Orica Limited Appoints Vik Bansal as Non-Executive Director and Chair Elect Orica Limited Chair, Malcolm Broomhead, announced the appointment of Vik Bansal to the Orica Limited Board as a Non-Executive Director, effective August 15, 2025. The Board has elected Mr. Bansal as Chair Elect, to assume the role at the completion of the 2025 Annual General Meeting. Vik Bansal is an experienced executive and non-executive director with over 30 years of experience managing complex industrial organisations. He is currently a non-executive director of Brambles Ltd. and Chair of LGI Limited, a clean energy company. Vik has held significant leadership roles in various industries where he led strategic growth and performance improvements, including CEO positions at Boral, InfraBuild, and Cleanaway, and global leadership roles at NYSE-listed Valmont Industries. Throughout his career, Vik has been recognised for his ability to drive shareholder returns through strategic and operational improvements. He has served on the boards of several organisations, including the National Waste & Recycling Industry Council and the Waste Management and Resource Recovery Association of Australia and not-for-profit Disability Services Australia. Vik is a Fellow of the Institute of Engineers Australia and the Australian Institute of Company Directors. Vik holds an Electrical Engineering degree with First Class Honors from NIT - Kurukshetra, an MBA from Deakin University, an Advanced Management Program from INSEAD, and a Master of Laws in Enterprise Governance. Aankondiging • Mar 12
Orica Limited (ASX:ORI) announces an Equity Buyback for AUD 400 million worth of its shares. Orica Limited (ASX:ORI) announces a share repurchase program. Under the program, the company will repurchase up to AUD 400 million worth of its shares. The program will be valid till March 27, 2026. As of March 12, 2025, the company had 487,360,505 issued shares. Aankondiging • Jan 31
Orica Limited Announces Executive Changes Orica Limited announced that Erin O'Connor and Kirsten Anderson Llewellyn have each resigned as Company Secretary effective 31 January 2025. Krista Stewart has been appointed as Group General Counsel and Company Secretary, effective 31 January 2025, and will be the person responsible for communication with the ASX under Listing Rule 12.6. Declared Dividend • Nov 17
Final dividend of AU$0.28 announced Shareholders will receive a dividend of AU$0.28. Ex-date: 22nd November 2024 Payment date: 23rd December 2024 Dividend yield will be 3.6%, which is lower than the industry average of 6.1%. Sustainability & Growth Dividend is covered by both earnings (42% earnings payout ratio) and cash flows (65% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 26% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Nov 16
Full year 2024 earnings released: EPS: AU$1.11 (vs AU$0.65 in FY 2023) Full year 2024 results: EPS: AU$1.11 (up from AU$0.65 in FY 2023). Revenue: AU$7.66b (down 3.6% from FY 2023). Net income: AU$524.6m (up 77% from FY 2023). Profit margin: 6.8% (up from 3.7% in FY 2023). Revenue is forecast to grow 4.5% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Chemicals industry in Germany. Over the last 3 years on average, earnings per share has increased by 87% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Declared Dividend • May 12
First half dividend of AU$0.19 announced Shareholders will receive a dividend of AU$0.19. Ex-date: 23rd May 2024 Payment date: 3rd July 2024 Dividend yield will be 3.1%, which is lower than the industry average of 6.1%. Sustainability & Growth Dividend is well covered by both earnings (39% earnings payout ratio) and cash flows (36% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 25% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • May 10
First half 2024 earnings released: EPS: AU$0.73 (vs AU$0.27 in 1H 2023) First half 2024 results: EPS: AU$0.73 (up from AU$0.27 in 1H 2023). Revenue: AU$3.66b (down 8.5% from 1H 2023). Net income: AU$337.5m (up 175% from 1H 2023). Profit margin: 9.2% (up from 3.1% in 1H 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 5.5% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Chemicals industry in Germany. Over the last 3 years on average, earnings per share has increased by 93% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Aankondiging • Feb 29
Orica Limited Announces Retirement of Gene Tilbrook from the Board of Directors As announced by Orica Chairman Malcolm Broomhead at the 2023 Annual General Meeting Mr. Gene Tilbrook has retired from the Board of Directors of Orica Limited, effective 29 February, 2024. New Risk • Feb 27
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 6.1% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Shareholders have been diluted in the past year (6.1% increase in shares outstanding). Aankondiging • Feb 23
Orica Limited has completed a Follow-on Equity Offering in the amount of AUD 400.000012 million. Orica Limited has completed a Follow-on Equity Offering in the amount of AUD 400.000012 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 25,252,526
Price\Range: AUD 15.84
Discount Per Security: AUD 0.2376
Transaction Features: Subsequent Direct Listing Reported Earnings • Nov 09
Full year 2023 earnings released: EPS: AU$0.65 (vs AU$0.35 in FY 2022) Full year 2023 results: EPS: AU$0.65 (up from AU$0.35 in FY 2022). Revenue: AU$7.95b (up 12% from FY 2022). Net income: AU$295.7m (up 104% from FY 2022). Profit margin: 3.7% (up from 2.0% in FY 2022). Revenue is forecast to grow 2.0% p.a. on average during the next 3 years, compared to a 3.3% growth forecast for the Chemicals industry in Germany. Over the last 3 years on average, earnings per share has increased by 64% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Aankondiging • Nov 02
CF Industries Files a Separate Lawsuit in the United States Against Orica Orica announced that it is a joint plaintiff in a lawsuit filed in the United States on 21 October 2023 (US time) against CF Industries regarding contractual disputes under an ammonium nitrate purchase agreement for the supply of ammonium nitrate and related products for use by Orica's business across North America. CF Industries filed a separate lawsuit in the United States regarding contractual disputes of this agreement on 22 October 2023 (US time). Orica is pursuing its claims and defending CF Industries' claims while continuing to fully comply with its contractual obligations. Upcoming Dividend • May 18
Upcoming dividend of AU$0.18 per share at 2.2% yield Eligible shareholders must have bought the stock before 25 May 2023. Payment date: 03 July 2023. Payout ratio is a comfortable 65% and this is well supported by cash flows. Trailing yield: 2.2%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (5.7%). Aankondiging • May 13
Orica Limited Announces Distribution for the Six Months Ended March 31, 2023, Payable on July 3, 2023 Orica Limited announced the Distribution of AUD 0.18000000 per share for the six months ended March 31, 2023, payable on July 3, 2023. Record Date is on May 26, 2023 and Ex date is on May 25, 2023. Reported Earnings • May 11
First half 2023 earnings released First half 2023 results: EPS: AU$0.27. Revenue: AU$4.01b (up 31% from 1H 2022). Net income: AU$122.6m (up AU$122.6m from 1H 2022). Profit margin: 3.1% (up from 0% in 1H 2022). Revenue is forecast to stay flat during the next 3 years compared to a 3.3% growth forecast for the Chemicals industry in Germany. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Aankondiging • Jan 18
Orica Limited Announces Vanessa Guthrie AO as Independent, Non-Executive, Effective 1 February 2023 Orica Limited announced the appointment of Dr. Vanessa Guthrie AO as independent, Non-Executive Director, to the Orica Board effective 1 February 2023. The appointment of Dr. Guthrie is part of the Orica Board's ongoing renewal process, following the retirement of Ms. Maxine Brenner and Mr. Boon Swan Foo at the conclusion of the 2022 Annual General Meeting and the previously announced appointment of Mr. Mark Garrett, effective 15 January 2023. Dr. Guthrie's broad and strategic experience in the resources sector started over 30 years ago in Australia with RGC Limited (Tasmania). Since then, Dr.Guthrie has held a diverse set of senior leadership roles across operations, environment, community, indigenous affairs and corporate development and sustainability. Previously Managing Director and CEO of ASX-listed Toro Energy Limited and private company Wellard Enterprises, Vice President Sustainable Development of Woodside Energy Limited, Huntly Mine Manager of Alcoa Australia and Chair of Minerals Council of Australia. Dr. Guthrie is Deputy Chair and Lead Independent Director of Adbri Limited, Non-Executive Director of Santos Limited, Tronox Holdings PLC and Lynas Rare Earths Limited, Non-Executive Director of Cricket Australia and Infrastructure Australia, and Pro-Chancellor of Curtin University. Dr. Guthrie's contribution to the mining and resources industry was recognised in 2017 with the award of an Honorary Doctor of Science from Curtin University. In 2021 she was also made an Officer of the Order of Australia. Dr. Guthrie is also a Fellow of the Australian Institute of Company Directors (FAICD), the Australian Academy of Technological Sciences and Engineering (FTSE) and the Australasian Institute of Mining and Metallurgy (FAusIMM). Dr. Guthrie has qualifications in geology, environment, law and business management, including a PhD in Geology. Reported Earnings • Nov 10
Full year 2022 earnings released: EPS: AU$0.35 (vs AU$0.46 loss in FY 2021) Full year 2022 results: EPS: AU$0.35 (up from AU$0.46 loss in FY 2021). Revenue: AU$7.14b (up 36% from FY 2021). Net income: AU$144.7m (up AU$333.1m from FY 2021). Profit margin: 2.0% (up from net loss in FY 2021). Revenue is forecast to grow 2.3% p.a. on average during the next 3 years, while revenues in the Chemicals industry in Germany are expected to remain flat. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 74 percentage points per year, which is a significant difference in performance. Upcoming Dividend • May 24
Upcoming dividend of AU$0.13 per share Eligible shareholders must have bought the stock before 31 May 2022. Payment date: 08 July 2022. The company is not currently making a profit and is not cash flow positive. Trailing yield: 1.5%. Lower than top quartile of German dividend payers (4.2%). Lower than average of industry peers (5.1%). Reported Earnings • May 13
First half 2022 earnings released First half 2022 results: Revenue: (down 100% from 1H 2021). Net income: (down AU$76.7m from profit in 1H 2021). Profit margin: (down from 2.9% in 1H 2021). Over the next year, revenue is forecast to grow 7.4%, compared to a 6.4% growth forecast for the industry in Germany. Recent Insider Transactions • Nov 17
Independent Non-Executive Director recently bought €161k worth of stock On the 15th of November, Boon Foo bought around 16k shares on-market at roughly €10.06 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought €380k more in shares than they have sold in the last 12 months. Reported Earnings • Nov 12
Full year 2021 earnings released The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2021 results: Revenue: AU$5.25b (down 6.7% from FY 2020). Net loss: AU$188.4m (down 212% from profit in FY 2020). Valuation Update With 7 Day Price Move • Oct 02
Investor sentiment improved over the past week After last week's 17% share price gain to €8.75, the stock trades at a forward P/E ratio of 23x. Average forward P/E is 11x in the Chemicals industry in Germany. Total loss to shareholders of 8.9% over the past three years. Recent Insider Transactions • Oct 02
Independent Non-Executive Director recently bought €85k worth of stock On the 30th of September, Denise Gibson bought around 10k shares on-market at roughly €8.55 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought €219k more in shares than they have sold in the last 12 months. Upcoming Dividend • May 24
Upcoming dividend of AU$0.075 per share Eligible shareholders must have bought the stock before 31 May 2021. Payment date: 09 July 2021. Trailing yield: 1.8%. Lower than top quartile of German dividend payers (3.2%). Lower than average of industry peers (3.6%). Reported Earnings • May 14
First half 2021 earnings released: EPS AU$0.19 (vs AU$0.43 in 1H 2020) The company reported a poor first half result with weaker earnings, revenues and profit margins. First half 2021 results: Revenue: AU$2.64b (down 8.7% from 1H 2020). Net income: AU$76.7m (down 54% from 1H 2020). Profit margin: 2.9% (down from 5.7% in 1H 2020). Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Executive Departure • Apr 09
MD, CEO & Executive Director Alberto Zuleta has left the company On the 1st of April, Alberto Zuleta, was replaced as CEO by Sanjeev Gandhi. As of December 2020, Alberto personally held 268.40k shares (€2.6m worth at the time). A total of 2 executives have left over the last 12 months. Valuation Update With 7 Day Price Move • Mar 02
Investor sentiment deteriorated over the past week After last week's 18% share price decline to AU$8.10, the stock is trading at a trailing P/E ratio of 29.4x, down from the previous P/E ratio of 35.7x. This compares to an average P/E of 23x in the Chemicals industry in Germany. Total return to shareholders over the past three years is a loss of 23%. Is New 90 Day High Low • Feb 28
New 90-day low: €8.30 The company is down 20% from its price of €10.40 on 27 November 2020. The German market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 9.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €16.52 per share. Recent Insider Transactions • Jan 14
MD, CEO & Executive Director recently bought €83k worth of stock On the 14th of January, Alberto Zuleta bought around 7k shares on-market at roughly €12.01 per share. This was the largest purchase by an insider in the last 3 months. Alberto has been a buyer over the last 12 months, purchasing a net total of €131k worth in shares. Reported Earnings • Nov 22
Full year 2020 earnings released: EPS AU$0.42 The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: AU$5.63b (down 4.5% from FY 2019). Net income: AU$168.3m (down 31% from FY 2019). Profit margin: 3.0% (down from 4.2% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Analyst Estimate Surprise Post Earnings • Nov 22
Revenue misses expectations Revenue missed analyst estimates by 1.0%. Over the next year, revenue is forecast to grow 2.9%, compared to a 3.7% growth forecast for the Chemicals industry in Germany. Is New 90 Day High Low • Nov 02
New 90-day low: €9.05 The company is down 12% from its price of €10.30 on 04 August 2020. The German market is down 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is flat over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €17.54 per share. Is New 90 Day High Low • Sep 23
New 90-day low: €9.45 The company is down 4.0% from its price of €9.80 on 25 June 2020. The German market is up 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 10.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €14.46 per share.