Company Reports

Along with the release of strong first-half results in May 2026, Orica guided for an unquantified underlying full-year EBIT increase. This builds on the 5% first-half increase, with growth across all segments and regions. Shares are little changed from the results day close.

Orica has expanded its mining services business around a leading global market share in explosives. Earnings are leveraged to mining volume and commodity prices. The Australian explosives duopoly affords relatively high margins and returns founded on three- to four-year contracts in addition to longer-duration and lower-margin contracts.

Orica, the world’s largest explosives provider, reported an 8% increase in underlying first-half fiscal 2026 NPAT, to AUD 283 million. Underlying EBIT rose 5% to AUD 512 million, with strong performance across most segments/regions. The interim unfranked AUD 0.285 dividend is up 14%. Shares rose 8%.

Orica has expanded its mining services business around a leading global market share in explosives. Earnings are leveraged to mining volume and commodity prices. The Australian explosives duopoly affords relatively high margins and returns founded on three- to four-year contracts in addition to longer-duration and lower-margin contracts.

Orica has expanded its mining services business around a leading global market share in explosives. Earnings are leveraged to mining volume and commodity prices. The Australian explosives duopoly affords relatively high margins and returns founded on three- to four-year contracts in addition to longer-duration and lower-margin contracts.

Orica says strong momentum from fiscal 2025 has continued into fiscal 2026, with first-half EBIT expected to be slightly higher than a year ago. But EBIT in the core blasting solutions segment will be slightly lower due to currency headwinds and reduced Indonesian coal quotas. Shares fell about 3%.

Orica, the world’s largest explosives provider, reported a 32% increase in underlying fiscal 2025 NPAT, to AUD 541 million. Underlying EBIT rose 23% to 992 million, with consistent earnings growth across all segments and regions. A final unfranked AUD 0.32 dividend was declared, up 14%.

Orica has expanded its mining services business around a leading global market share in explosives. Earnings are leveraged to mining volume and commodity prices. The Australian explosives duopoly affords relatively high margins and returns founded on three- to four-year contracts in addition to longer-duration and lower-margin contracts.

Orica has expanded its mining services business around a leading global market share in explosives. Earnings are leveraged to mining volume and commodity prices. The Australian explosives duopoly affords relatively high margins and returns; however, these are coming under pressure as Orica's more lucrative three- to four-year contracts mature and are replaced with longer-duration and lower-margin contracts. Orica benefits from resources development activity in Latin America, South Africa, and Russia. Non-Australian explosives usage also depends on construction demand, which is somewhat less cyclical.

The world’s largest explosives provider, Orica, says the positive momentum that underpinned a strong first-half fiscal 2025 performance has continued into the second half. Earnings across segments are expected to be higher than for the same period last year.

Orica has expanded its mining services business around a leading global market share in explosives. Earnings are leveraged to mining volume and commodity prices. The Australian explosives duopoly affords relatively high margins and returns; however, these are coming under pressure as Orica's more lucrative three- to four-year contracts mature and are replaced with longer-duration and lower-margin contracts. Orica benefits from resources development activity in Latin America, South Africa, and Russia. Non-Australian explosives usage also depends on construction demand, which is somewhat less cyclical.

The world’s largest explosives provider Orica reported a 40% increase in underlying first-half fiscal 2025 net profit after tax to AUD 251 million. EBITDA margin improved 310 basis points to 17.1%, with an 11% increase in average ammonium nitrate price easily countering a 3% decline in volumes.

The world’s largest explosives provider, Orica, says strong momentum from fiscal 2024 has continued into fiscal 2025. First-half EBIT will consequently be higher than it planned, with all segments expected to beat the previous corresponding period.

Orica has expanded its mining services business around a leading global market share in explosives. Earnings are leveraged to mining volume and commodity prices. The Australian explosives duopoly affords relatively high margins and returns; however, these are coming under pressure as Orica's more lucrative three- to four-year contracts mature and are replaced with longer-duration and lower-margin contracts. Orica benefits from resources development activity in Latin America, South Africa, and Russia. Non-Australian explosives usage also depends on construction demand, which is somewhat less cyclical.

No-moat Orica Limited posted an 11% increase in fiscal 2024 underlying net profit after tax to AUD 409 million. This was close to our AUD 417 million expectations. The world’s largest explosives provider enjoyed underlying EBIT growth from all blasting divisions including 8.8% for Australia and the Pacific, 5.2% for North America, 31% for Latin America, and 32% for Europe, the Middle East and Africa. And initial contributions from newly acquired businesses Terra Insights and Cyanco also bolstered earnings.

Orica has expanded its mining services business around a leading global market share in explosives. Earnings are leveraged to mining volume and commodity prices. The Australian explosives duopoly affords relatively high margins and returns; however, these are coming under pressure as Orica's more lucrative three- to four-year contracts mature and are replaced with longer-duration and lower-margin contracts. Orica benefits from resources development activity in Latin America, South Africa, and Russia. Non-Australian explosives usage also depends on construction demand, which is somewhat less cyclical.

We increase our fair value estimate for no-moat Orica Limited by 3% to AUD 17.50 per share, chiefly due to the time value of money. The world’s largest explosives provider is to report fiscal 2024 earnings to September on Nov. 14. Our fiscal 2024 and fiscal 2025 earnings per share forecasts of AUD 0.87 and AUD 1.08, respectively, stand.

Orica has expanded its mining services business around a leading global market share in explosives. Earnings are leveraged to mining volume and commodity prices. The Australian explosives duopoly affords relatively high margins and returns; however, these are coming under pressure as Orica's more lucrative three- to four-year contracts mature and are replaced with longer-duration and lower-margin contracts. Orica benefits from resources development activity in Latin America, South Africa, and Russia. Non-Australian explosives usage also depends on construction demand, which is somewhat less cyclical.

We increase our fair value estimate for no-moat Orica Limited by 3% to AUD 17.00, equivalent to the time value of money. The world’s largest explosives provider posted a 10% increase in underlying first-half fiscal 2024 NPAT to AUD 179 million. Orica anticipated strong fiscal 2024 adoption of blasting and digital technologies but major plant maintenance, inflationary pressures, and heightened geopolitical risks were expected partial offsets.

Orica has expanded its mining services business around a leading global market share in explosives. Earnings are leveraged to mining volume and commodity prices. The Australian explosives duopoly affords relatively high margins and returns; however, these are coming under pressure as Orica's more lucrative three- to four-year contracts mature and are replaced with longer-duration and lower-margin contracts. Orica benefits from resources development activity in Latin America, South Africa, and Russia. Non-Australian explosives usage also depends on construction demand, which is somewhat less cyclical.