IPL continues to deliver strong underlying earnings growth in 1H24
1H24 highlights – Statutory results
1H24 highlights – Underlying results
IPL delivered underlying EBIT growth of 18% compared to the pcp after adjusting for re-basing items which relate primarily to the closure of manufacturing at Gibson Island and the sale of Waggaman (refer table on following page and associated footnotes for more details). Key drivers of the improved performance include growth in all customer-facing businesses, including record first half EBIT for the Dyno Nobel Asia Pacific business and the Fertilisers Distribution
business.
Financial performance
- Zero Harm: Tragically, IPL lost a valued employee as a result of a fatal incident on apublic road. Total Recordable Injury Frequency Rate (TRIFR) for the rolling twelve-monthperiod ended 31 March 2024 was 1.06, up from 0.781 at 31 March 2023
- Statutory Net Loss After Tax and IMIs2: $148m (1H23: $354m profit)
- NPAT ex IMIs: $164m (1H23: $362m)
- EBITDA ex IMIs: $425m (1H23: $724m)
- Earnings Per Share ex IMIs: 8.4 cents per share (1H23: 18.6 cps)
- Return on Invested Capital including goodwill (ROIC): 5.1% (1H23: 12.8%)
- Interim dividend of 4.3 cents per share (unfranked) representing a 51% payout ratio
- Capital management: $500m capital return completed; $900m on-market buyback remains on hold while the fertilisers business divestment process continues
- Fertilisers divestment: in advanced negotiations (refer to today’s ASX announcement)
To read the full ASX announcement, please click here.
For more information:
Media
Matthew Flugge
Vice President Group Corporate Affairs Manager
Tel: +61 409 705 176
Email: matthew.flugge@incitecpivot.com.au
Investors
Geoff McMurray
General Manager Investor Relations
Tel: +61 3 8695 4553
Mobile: +61 418 312 773
Email: geoff.mcmurray@incitecpivot.com.au