Orora Limited (ASX: $ORA) Half-Year Report for the period ended 31 December 2023

Orora Limited (ASX: $ORA) has reported a consolidated statutory profit of $68.2 million for the half-year ended 31 December 2023. The Group's earnings before significant items, interest, and tax increased to $184.1 million from $165.8 million, with $13.4 million attributable to earnings from the acquired Saverglass business. The interim dividend declared is unfranked, amounting to 5.0 cents per share, with a record date of 6 March 2024.

Executive Commentary on Group Results and Acquisition of Saverglass

The Group's consolidated statutory profit for the half-year ended 31 December 2023 was $68.2 million, including a significant item expense of $40.4 million relating to transaction costs for the acquisition of Saverglass SAS Group. Earnings before significant items, interest, and tax increased to $184.1 million, with $13.4 million attributable to earnings from the acquired Saverglass business. The acquisition of Saverglass, a global leader in high-end bottle design and manufacturing, is a strategic extension of Orora's sustainable value-added packaging solutions. The acquisition will enhance the Group's financial performance and growth prospects.

Summary of Half-Year Report and Outlook

Orora Limited (ASX: $ORA) reported a consolidated statutory profit of $68.2 million for the half-year ended 31 December 2023, with an unfranked interim dividend of 5.0 cents per share. The acquisition of Saverglass SAS Group for €1,310.0 million is expected to provide meaningful scale to Orora's operations, extending its footprint and product capabilities in attractive offshore markets. The Group's outlook is focused on leveraging the acquisition to enhance its financial performance and growth prospects.