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BRIEF-Incitec Pivot HY Statutory NPAT A$65 Mln, Up 22%

Published 11/05/2020, 09:47 am
Updated 11/05/2020, 09:48 am
© Reuters.
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May 11 (Reuters) - Incitec Pivot Ltd IPL.AX :

* DETERMINED NOT TO PAY A DIVIDEND IN RESPECT OF HALF-YEAR ENDED 31 MARCH 2020

* HY REVENUE FROM ORDINARY ACTIVITIES UP 6.1% TO $1,847.9 MILLION

* ANNOUNCES RAISING OF $600M IN NEW EQUITY

* CAPITAL RAISING THROUGH FULLY UNDERWRITTEN INSTITUTIONAL PLACEMENT & NON-UNDERWRITTEN SHARE PURCHASE PLAN

* NON-UNDERWRITTEN SHARE PURCHASE PLAN OF UP TO $75M

* HY STATUTORY NPAT A$65M, UP 22%

* COVID-19 PANDEMIC BRINGS FUTURE ECONOMIC UNCERTAINTY ON COMMODITY PRICING AND DEMAND

* EXPLOSIVES AND FERTILISER BUSINESSES ARE WELL POSITIONED FOR LONG TERM CUSTOMERS TRENDS

* WELL PLACED TO MANAGE SHORT TERM RISKS

* ABOUT A$60 MILLION IN CASH SAVINGS THROUGH COST INITIATIVES AND REDUCTIONS AND DEFERRALS IN CAPITAL EXPENDITURE

* CAPITAL RAISING TO REDUCE PRO FORMA NET DEBT TO A$1,276 MILLION AND NET DEBT/EBITDA TO 1.9X

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