Orica Limited Reports Consolidated Earnings Results for the Half Year Ended March 31, 2017; Provides Capital Expenditure and Tax Rate Guidance for the Year 2017
May 15, 2017 at 06:24 pm
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Orica Limited reported consolidated earnings results for the half year ended March 31, 2017. For the first half, the company's sales revenue was $2,437.4 million against $2,553.4 million for the same period of last year. Profit from operations was $314.2 million against $316.5 million for the same period of last year. Profit before income tax expense was $281.2 million against $271.0 million for the same period of last year. Net profit attributable to shareholders of company was $195.2 million or $51.8 per diluted share against $149.0 million or $40.1 per diluted share for the same period of last year. Net cash flows from operating activities were $154.5 million against $132.5 million for the same period of last year. Payments for property, plant and equipment was $87.5 million against $107.3 million for the same period of last year. Payments for intangibles were $26.7 million against $29.6 million for the same period of last year. Net debt was $1,531.8 million as on March 31, 2017 against $2,053.9 million as on March 31, 2016. EBITDA was $445.5 million against $450.1 million a year ago. Negative adjusted net cash flows were $5.9 million against $151.8 million a year ago.
Continued focus on capital discipline will see fiscal year 2017 capital expenditure in the range of $300 million to $320 million (including scheduled maintenance at Kooragang Island and Carseland and remaining Burrup spend). Effective tax rate (excluding individually material items) to be marginally higher than fiscal year 2016, and interest expense will also rise following completion of the Burrup project.
Orica Limited is an Australia-based company, which provides mining and infrastructure solutions. The principal activities of the Company are to manufacture and distribute commercial blasting systems, including technical services and solutions, mining and tunneling support systems for the mining and infrastructure markets, and various chemical products and services. The Company's segments include Australia Pacific and Asia (APA); North America; Latin America; Europe, Middle East and Africa (EMEA); Global Support and Digital Solutions. The Australia Pacific and Asia (APA), North America, Latin America, Europe, Middle East and Africa (EMEA) segments are engaged in manufacturing and supply of commercial explosives and blasting systems. The Digital Solutions segment is engaged in developing, manufacturing and deploying advanced software, sensors and end-to-end data science solutions to the mining industry.
Orica Limited Reports Consolidated Earnings Results for the Half Year Ended March 31, 2017; Provides Capital Expenditure and Tax Rate Guidance for the Year 2017