Orica Limited reported earnings results for the half year ended March 31, 2013. For the period, the company's statutory profit after tax was AUD 266.8 million against AUD 253.3 million a year ago. EBIT was AUD 441.7 million against AUD 418.7 million a year ago. EBITDA was AUD 578.2 million against AUD 537.1 million a year ago. Net debt was AUD 2,553.6 million against AUD 2,297.9 million a year ago. Underlying EBIT was AUD 16 million. The half year result reflects the early benefits associated with an increased service offering and an improved product mix, in addition to Orica's renewed focus on better manufacturing performance. The company recorded half year sales revenue of AUD 3.3 billion in line with the pcp. Net operating cash flows at AUD 295 million rose from AUD 39 million in the pcp. Earnings per share increased 8% to 73.5 cents. The company expects group net profit after tax (pre individually material items) in 2013 to be higher than that reported in 2012, subject to global economic conditions. The company expects EBIT to be AUD 17 million - AUD 25 million a year ago. Underlying EBIT to be AUD 37 million - AUD 47 million a year ago. For the second half 2013, the company expects EBIT to be AUD 7 million - AUD 15 million a year ago. Underlying EBIT to be AUD 21 million - AUD 31 million a year ago.

The Orica Limited Board has declared an interim dividend of 39 cents per ordinary share, franked at 15 cents cents per ordinary share.

Orica Limited, H1 2013 Earnings Call, May 06, 2013