Orora’s shares dropped 3.6% following earnings, driven primarily by a disappointing impairment charge on the Glass CGU and continuing pressure on Saverglass margins and pricing, which offset solid performance in Cans and operational efficiencies in Gawler.
- Orora recorded a noncash EUR 450 million impairment of the Glass CGU, reflecting delayed consumer demand recovery and geopolitical headwinds impacting earnings.
- EBITDA remained largely flat at $240 million, with growth in Cans and Gawler offset by a 9% decline in Saverglass EBITDA due to weaker pricing and mix.
- Cans volumes grew 6.3%, supported by capacity expansions and substrate shifts, driving a 15% increase in Cans EBITDA excluding corporate cost allocations.
- Gawler volume declined 2%, but EBITDA and EBIT increased double digits thanks to efficiencies from a two-furnace operation and lower energy consumption.
- Underlying NPAT declined 6% to $142 million, with EBIT down 5%, and a cautious outlook constrained by ongoing market softness in premium glass segments.
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