Orica: Finally delivers the cash

About the author:

Belinda Moore
Author name:
By Belinda Moore
Job title:
Senior Analyst
Date posted:
10 November 2023, 7:30 AM
Sectors Covered:
Agriculture, Food & Beverage, Travel and Chemicals

  • Orica's (ASX:ORI) FY23 result was slightly ahead of expectations, reporting an impressive ~21% EBIT growth. Pleasingly, after period of weak cashflow, 2H23 cashflow was extremely strong and gearing metrics remain under ORI’s target range.
  • In line with its previous guidance, while solid growth is expected in FY24, the 1H will be impacted by major turnarounds in APA. Following the result, we have made minor revisions to our forecasts.
  • We maintain a Hold rating with a new price target of (login to view).

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