Orora delivers solid first half result

Operating results for the half year ended 31 December 2020

•  Underlying net profit after tax (NPAT) before significant items was $91.1 million, up 18.9% on the prior corresponding period (pcp)
•  Underlying earnings per share (EPS)1 was 9.6 cents per share (cps), up 20.0% on pcp
•  Sales revenue was $1,814.1 million, down 1.2% on pcp. On a constant currency basis, sales revenue was up 3.1% on pcp
• Underlying Earnings Before Interest and Tax (EBIT) was $140.0 million, up 5.2% on pcp. On a constant currency basis underlying EBIT was up 7.5% on pcp
•  Operating cash flow was $144.8 million, $17.6 million above the pcp
•  Return on average funds employed (RoAFE)2 was 21.4%, up 220 basis points from 19.2% at pcp

Key Group Metrics

•  Statutory NPAT was $97.4 million. Statutory EPS was 10.2 cps
•  Interim ordinary dividend of 6.5 cps unfranked, 100% sourced from the conduit foreign income account
•  Net debt3 at 31 December 2020 was ~$277 million, reduced ~$15 million from ~$292 million at 30 June 2020 • Leverage was 0.9 times, in line with June 2020