Orora Limited · ASX:ORA
Orora — Investor Presentation (August 2025)
35 slides from Orora's investor presentation, Aug 14, 2025
Slide 1: Financial Results Year ended 30 June 2025
Financial Financial Results Results Year ended 30 June 2025 Year ended 30 June 2025 14 August 2025 14 August 2025
Slide 2: Important information
Important information Forward Looking Statements This presentation contains forward looking statements that involve subjective judgment and analysis and are subject to significant uncertainties, risks and contingencies, many of which are outside the control of, and are unknown to Orora. Forward look
Slide 3: FY25 highlights and portfolio actions
FY25 highlights and portfolio actions Brian Lowe Managing Director & Chief Executive Officer
Slide 4: Key messages
Key messages 1 2 3 4 Solid results Cans growth through Taking decisive action Strong balance sheet demonstrates capacity investments on glass network enables shareholder resilience optimisation returns 4
Slide 5: FY25 financial highlights – continuing operations
FY25 financial highlights – continuing operations1 Solid results delivered demonstrating resilient businesses Earnings Before Interest, Tax and Depreciation Earnings Before Interest and Tax (EBIT) Net Profit After Tax (NPAT) and Amortisation (EBITDA) Statutory2 $418.8m $262.1m $973.1m +425.4% Contin
Slide 6: FY25 operating highlights
FY25 operating highlights Orora Cans Global Glass – Saverglass Global Glass – Gawler Revenue EBITDA EBIT Revenue EBITDA EBIT Revenue EBITDA EBIT A$776.9m A$118.7m A$103.8m €612.4m €144.9m €79.2m A$285.4m A$56.9m A$25.4m up 12.1% reported up 0.4% reported up 0.2% reported down 16.5%3 down 4.9%3 down
Slide 7: Saverglass orders and inventory
TRADING UPDATE & OUTLOOK Saverglass orders and inventory Solid increase in orders, albeit change in mix towards standard premium wine since March 2025 Order intake Average monthly orders increased Inventory 21% from 2H24 to 2H25 Customer owned inventory down more than 50% from peak Jan-23 Mar-23 May
Slide 8: Cans capacity expansions
Cans capacity expansions By the end of FY26 Cans capacity expansions will have been completed, delivering multi-year organic growth and strong free cash flow generation Investment ROI EBIT (real) Capex supports strong Cans Project Type Capacity Completion Spend to FY26 Total Annual EBIT Total Annual
Slide 9: Glass network optimisation
Glass network optimisation Decisive action taken across global glass network to optimize capacity driving operating efficiencies Ghlin rebuild and modernisation Le Havre F4 closure Gawler G3 rebuild and G1 closure • Consolidation of all European wine and • Closure process has begun for Le Havre • G3
Slide 10: Safety and Sustainability Update
Safety and Sustainability Update Brian Lowe Managing Director & Chief Executive Officer
Slide 11: Safety performance
Safety performance Lost time injury frequency rate (LTIFR)* Update on our approach to improving safety • FY24 has been restated to include Saverglass data. • No Serious Injuries or Fatalities (SIF) have occurred. • LTIFR and RCFR have continued to decrease since June 2024, 3.4 2.2 with fewer Lost Ti
Slide 12: Sustainability progress
Sustainability progress Significant progress with increased recycled content and improved carbon emissions. Reporting Scope 3 emissions for the first time Circular Economy Climate Change Community FY25 achievements FY25 emissions reductions from FY19 • Glass (Gawler) – 59.5% recycled content vs • Sc
Slide 13: Financial Results
Financial Results Shaun Hughes Chief Financial Officer
Slide 14: Key financial priorities
CAPITAL ALLOCATION Key financial priorities Ongoing focus on capital allocation to deliver strong cash realisation, maintain investment grade credit metrics, and maximise shareholder returns Deliver strong operating cash Strict capital allocation / realisation with disciplined investment approach wo
Slide 15: FY25 Group financial performance
FY25 Group financial performance Continuing operations ($m)1 FY25 FY24 Var$ Var% CC% Continuing operations Revenue 2,090.2 1,679.9 410.3 24.4% 23.4% • Revenue growth reflects twelve months of Saverglass contribution EBITDA 418.8 350.8 68.0 19.4% 18.2% compared to seven months in the pcp Depreciation
Slide 16: FY25 Orora Cans financial highlights
FY25 Orora Cans financial highlights Revenue EBITDA $776.9m $118.7m Business performance • Revenue reflects 6.0% volume growth, improved mix and higher 0.4% increase aluminium prices 12.1% increase 8.9% adjusted increase1 6.4% adjusted increase2 • Revenue excluding pass-through aluminium prices incr
Slide 17: FY25 Saverglass financial highlights
FY25 Saverglass financial highlights1 Revenue EBITDA €612.4m €144.9m Business performance1 • Revenue reflects 12% lower volumes due to global de-stocking and softer A$1,027.9m A$243.2m demand in Europe • De-stocking substantially complete with 2H volumes increasing 9% from 1H 16.5% decrease2 4.9% de
Slide 18: FY25 Gawler Glass financial highlights
FY25 Gawler Glass financial highlights1 Revenue EBITDA $285.4m $56.9m Business performance • Revenue increased 1.5% with contracted price increases and flat 1.5% increase 33.7% decrease volumes • Declines in wine and beer volumes were offset by increases in other products such as food jars which are
Slide 19: Operating cash flow – continuing operations
Operating cash flow – continuing operations $m FY25 FY241 Var% EBITDA 418.8 350.8 19.4% • Operating cash flow of $333.6m was 46.4% higher than FY24 with improved working capital partly offset by an increase in base Lease payments (28.2) (14.9) capex Non-cash items (0.4) 25.3 • Working capital reflec
Slide 20: Strong cash realisation
Strong cash realisation Orora has delivered cash realisation of >80% including pro-forma Saverglass1,2,3 Cash realisation (%)1,2 and working capital ($m)2 Key messages 294 317 390 555 525 397 • Strong track record of generating operating cash flow and cash Increase in working Increase in working con
Slide 21: Group capex spend
Group capex spend Free cash flow to be significantly higher in FY26 with lower capex spend Capex ($m)1 Key projects under construction Some growth capex is 263 expected to support Project Spend FY26 FY27+ Total 229 investment in automation, 59 new customer moulds, and to date spend spend 190-210 37
Slide 22: Balance sheet and net debt
Balance sheet and net debt Balance sheet provides operating and strategic flexibility to support Orora’s growth strategy and shareholder returns Balance sheet Net debt and leverage ratio 2.8x $m Jun-25 Jun-24 2,000 3.0x 2.0x 2.5x Net debt 254.2 1,753.5 1,500 1.9x 1.8x 1.5x 2.0x Net assets 2,896.6 2,
Slide 23: Shareholder returns
Shareholder returns Significant balance sheet capacity available for ongoing capital management Final Total Final dividend of 5.0 cents per share (unfranked), represents a $64m Cents per 5.0 cps 10.0 cps gross dividend share FY25 final dividend payout ratio of 69% is consistent with the target 69% p
Slide 24: Investor proposition and FY26 Perspectives and Outlook
Investor proposition and FY26 Perspectives and Outlook Brian Lowe Managing Director & Chief Executive Officer
Slide 25: Orora investor proposition
Orora investor proposition Orora provides investors with defensive growth exposure, a well-invested asset base and strong balance sheet to support ongoing shareholder returns Addressing investor priorities Key metrics / targets Focused value-added >15% Well invested assets to Disciplined approach Ta
Slide 26: Perspectives for FY26 and beyond
Perspectives for FY26 and beyond Disciplined execution of our strategy to deliver strong cash flow growth Orora Cans Global Glass – Saverglass Global Glass – Gawler • Volume growth in FY26 expected to be • Order intake remains solid but below October- • Increase in wine volumes from Chinese consiste
Slide 27: FY26 outlook
FY26 outlook Orora Cans Saverglass Gawler EBIT expected to be higher than EBIT expected to be broadly in line EBIT expected to be ~$30m FY25 compared to FY25 • Operational benefits from • Volume growth expected to • Volume growth and cost transition to two-furnace be consistent with long term reduct
Slide 28: Supporting Information
Supporting Information
Slide 29: Strategic evolution of portfolio
STRATEGY UPDATE Strategic evolution of portfolio Portfolio actions have transformed Orora into a focused beverage packaging business, with market-leading positions in cans, premium+ spirits and wine packaging 2019 2023 2024 Sale of Australian Fibre Acquisition of Saverglass Sale of OPS • Sale to Nip
Slide 30: Defensive growth exposure through Cans and Glass
STRATEGY UPDATE Defensive growth exposure through Cans and Glass Cans Saverglass Gawler • • • Market size1 ~$1.2bn1 ~$21bn2 ~$700m1 Volume growth ~4 – 6%1 ~3 – 6%1 ~Flat3 Market trends Shift to aluminum Premiumisation Category growth Brand proliferation Lower commercial wine consumption
Slide 31: Capital allocation framework
CAPITAL ALLOCATION Capital allocation framework Orora’s capital allocation framework to drive discipline across all capital decisions Operating cash flow Asset sales / divestments Key messages Available capital • Shareholder returns via dividends and Leverage target 1.5 – 2.5x buybacks Commitment to
Slide 32: Statutory to underlying reconciliations
Statutory to underlying reconciliations Statutory to underlying results FY25 FY24 ($m) EBITDA EBIT PBT NPAT EBITDA EBIT PBT NPAT Continuing Operations Statutory result 300.9 144.2 76.9 66.2 310.4 199.0 130.1 89.6 Add significant items: - Le Havre F4 furnace closure 34.2 34.2 34.2 26.3 - - - - Asia P
Slide 33: Liquidity and debt maturity profile
Liquidity and debt maturity profile Debt Maturity and Liquidity Profile ($m) As at 30 June 2025 731 233 305 257 161 125 Cash on hand FY25 FY26 FY27 FY28 FY29 FY30 FY31 Drawn amount Committed and available facilities 33
Slide 34: FY25 Global Glass financial highlights
FY25 Global Glass financial highlights1 Revenue EBITDA Business performance $1,313.3m $300.1m • Global Glass represents Gawler and Saverglass • Significant growth for Global Glass earnings from acquisition of Saverglass with 33.1% increase 29.1% increase only seven months of earnings in the prior ye
Slide 35: Chris Vagg
Chris Vagg General Manager Investor Relations +61 409 406 128 Chris.vagg@ororagroup.com ASX: ORA