Commenting on Australian packaging specialist Orora’s interim results, Managing Director and Chief Executive Officer, Brian Lowe said: “Our results for the first half of fiscal year 2023 demonstrate the resilience of our business, as well as a steadfast commitment to delivering against our strategic priorities.

“The external environment continues to present challenges including rising inflationary pressures and supply chain complexities. Despite this, Orora has delivered a solid result in line with expectations. The Group reported an increase in net profit after tax, driven by strong earnings growth in North America and another robust earnings performance in Australasia."

“Our Australasian business continues to deliver reliable and resilient earnings. Earnings were as expected, slightly down for the first half of FY23, largely reflecting the timing of inflationary impacts and lower wine and beer glass volumes.”

Orora is on track to achieve its sustainability goals aligned to the pillars of Circular Economy, Climate Change and Community. Significant steps have been made towards the 60% recycled content target in manufactured glass products. The Group’s new Cullet Beneficiation Plant at Gawler, South Australia is now fully operational. This plant is helping to drive the average recycled content in glass containers above the 38% achieved in FY22.

Under the Climate Change pillar, Orora is on track to achieve a 40% reduction in greenhouse gas emissions for Scope 1 and 2 by 2035. The company signed a contract to construct an oxygen plant to upgrade the G3 glass furnace at Gawler to oxy-fuel technology. This investment will enable a ~20% reduction in G3 glass furnace CO2 emissions and will move it into the top 10% of energy efficient furnaces worldwide.

www.ororagroup.com