Incitec Pivot Limited (ASX:IPL) Announces Change in Segment Reporting and Business Update
Change in Segment Reporting
Incitec Pivot Limited (ASX:IPL) has introduced a new Dyno Nobel EMEA & LATAM (DNEL) business unit to align with its expansion strategy in Latin America, Europe, and Africa. The DNEL segment will be separately reported in the 1H25 financial results, with past comparisons restated accordingly.
Dyno Nobel Performance
The Moranbah plant turnaround in Queensland was successfully completed within the scheduled time and budget. However, significant rainfall in Queensland during the first half of FY25 has reduced volumes for the Dyno Nobel Asia Pacific business. IPL expects the global Dyno Nobel earnings split to be approximately 35% in the first half and 65% in the second half of the year.
Fertilisers Performance
Persistent dry conditions in South Australia, Victoria, southern NSW, and cyclonic weather in Queensland and northern NSW have delayed fertiliser dispatches, particularly impacting key winter crop markets. These delays, along with sulphuric acid supply interruptions at Phosphate Hill, are expected to shift sales volumes from the first half to the second half of FY25, resulting in a 10%/90% earnings split.
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