IPL report FY24 underlying earnings growth
Published by Emilie Grant,
Editorial Assistant
World Fertilizer,
Incitec Pivot Ltd has reported a net loss after tax including individually material items (IMIs) of US$311 million (FY23: US$560 million profit).This result included IMIs totalling US$712 million (after tax) relating primarily to a non-cash impairment of the Australian fertilisers business.
Other IMIs included a non-cash impairment of the US fertilisers business, separation costs, business transformation costs and Dyno Nobel Asia Pacific site closure costs, offset by a gain on sale of IPL’s ammonia manufacturing facility in Waggaman, Louisiana, US.
IPL also reported earnings before interest and tax (EBIT) excluding IMIs of US$580 million, down from US$880 m in FY23. The principal driver of the reduced earnings was the sale of Waggaman (sold on 1 December 2023), and the closure of fertiliser manufacturing at Gibson Island, Queensland, Australia.
Read the article online at: https://www.worldfertilizer.com/project-news/11112024/ipl-report-fy24-underlying-earnings-growth/
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