Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
Hi James and crew, just renewed my membership for another two years - loving it. Have just read the Orora investor presentation and whilst it looked pretty flash would like your thoughts please knowing that MM has sold both holdings. Regards Geoff
Hi Geoff,
We think the presentation was ok and importantly not bad after recent events, the share price usually tells the tale and it made fresh 3-year lows this week and has only bounced ~5%.
ORA downgraded FY24 EBIT guidance ~8% and the company expects FY24 EBIT from the base business (NA and Australasia) to be “slightly lower” after previously guided to be higher, with the outlook reduced on heightened volume and pricing weakness from the North America. With Saverglass, the company has seen weaker volumes and further customer destocking, with ORA expecting 2H24 sales tonnage to be down ~11% compared to last year.
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