Incitec Pivot Limited Reports Improved Profit Amid Strategic Shift

Incitec Pivot Limited ( (ICPVF) ) has released its Q2 earnings. Here is a breakdown of the information Incitec Pivot Limited presented to its investors.

Incitec Pivot Limited, operating under the Dyno Nobel brand, is a leading global player in the explosives industry, with a strategic focus on separating its Fertilisers business to concentrate on its core explosives operations. The company has reported a net profit after tax of $7 million for the first half of 2025, a significant improvement from a $148 million loss in the prior corresponding period. This result includes individually material items totaling $80 million, primarily related to the closure of the Geelong manufacturing plant and the impairment of the St Helens Fertilisers facility. Excluding these items, EBIT was $174 million, down from $249 million in the previous year, largely due to scheduled plant turnarounds and adverse weather impacting sales volumes. The company’s transformation program continues to deliver benefits, with $25 million in additional EBIT realized, contributing to a total of $89 million in transformation earnings benefits. The separation of the Fertilisers business has reached key milestones, including sale agreements for the IPF Distribution business and Perdaman offtake agreement, supporting Dyno Nobel’s long-term strategy to focus on its explosives business. Looking ahead, Dyno Nobel remains committed to its transformation objectives and expects to achieve an EBIT exit run rate of approximately 40% to 50% in FY25, with continued focus on cost management and operational efficiencies.