Orora Group (ORA) H2 2025 earnings summary

Executive summary

• Delivered solid FY25 results with resilient performance, strong cash generation, and successful portfolio reshaping toward beverage packaging after divesting OPS and Closures.

• Cans segment achieved growth through major capacity investments; glass network optimisation and digital printing capability launched.

• Balance sheet strength enabled significant shareholder returns, including dividends and buybacks.

Financial highlights

• Revenue from continuing operations rose 24% to AUD 2.1 billion, driven by full-year Saverglass contribution and strong Cans volume growth.

• EBITDA increased 19.4% to AUD 418.8 million; EBIT up 9.5% to AUD 262.1 million.

• NPAT from continuing operations (excluding significant items) was AUD 151.1 million, up 18%; statutory NPAT reached AUD 973.1 million, up 425.4% due to discontinued operations.

• Operating cash flow was AUD 333.6 million, up 46.4%, with cash realization at 115%.

• Net debt reduced to AUD 254 million, leverage at 0.7x EBITDA.

• Final dividend of AUD 0.05 per share (total AUD 0.10 for the year), payout ratio at 86% of NPAT.

• Buyback of AUD 127 million, nearly 5% of issued shares.

Outlook and guidance

• Cans: EBIT expected higher in FY26, with volume growth at the low end of the long-term 4%-6% range.

• Saverglass: FY26 EBIT to be broadly in line with FY25; volume growth and cost reductions to support higher EBITDA, offset by higher depreciation.

• Gawler: EBIT expected at AUD 30 million, benefiting from two-furnace operation.

• Group EBITDA and cash flow growth expected, partially offset by higher corporate costs and depreciation.

• Outlook subject to economic conditions, currency fluctuations, and U.S. tariff changes.