Incitec Pivot Limited (AU:IPL) has released an update.
Incitec Pivot Limited reported a net loss of $311 million in FY24, primarily due to significant impairments, despite achieving an 18% growth in underlying EBIT driven by strong performances in its customer-facing businesses including Dyno Nobel Asia Pacific and Fertilisers Distribution. The company also completed a $500 million capital return and initiated a $900 million share buyback program, reflecting its commitment to enhancing shareholder value. Additionally, IPL’s sustainability initiatives made progress, notably with the completion of a project to reduce greenhouse gas emissions, and plans are underway for further modernization and divestment strategies.
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