Full Year 2023 Orica Ltd Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: John Purtell - Macquarie Research - Analyst : Just had a couple of questions. Sanjeev, just in terms of some general sort of thoughts around the demand environment. I appreciate your comments there. You've obviously sort of highlighted some pockets of weakness around in Europe on the Q&C side. But I suppose is the summary that you're still seeing solid demand overall? And obviously we hear a lot about productivity focus from the miners.

Question: John Purtell - Macquarie Research - Analyst : And just a question for Kim. Just in terms of sort of going forward, are there any sort of targets or sort of I suppose ranges you can give us as far as working capital to sales as a percentage and appreciate ammonia moves around or sort of overall cash conversion in terms of a range that we might expect in a sort of normal year going forward?

Question: John Purtell - Macquarie Research - Analyst : And just on cash conversion, I mean sort of I suppose we can sort of look at the history. But is that sort of as good as a guide as any there?

Question: Anthony Longo - JPMorgan Chase & Co, Research Division - Analyst : Just a quick one on CapEx. I appreciate that the guidance is increasing year-on-year from '23 to '24 and certainly as a result of some of those turnarounds. But how should we be ultimately thinking about that CapEx profile through the cycle from then on? Is it something that should revert to maybe what we have seen in, say, FY '21, '22 levels or perhaps any color around that would be helpful? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. NOVEMBER 09, 2023 / 12:00AM, ORI.AX - Full Year 2023 Orica Ltd Earnings Call

Question: Anthony Longo - JPMorgan Chase & Co, Research Division - Analyst : Okay. Sorry, you just -- for a little bit so I missed some of that. In terms of the gearing ratios, I mean you're still well below the bottom end of the range and take your comments with respect to looking at opportunities in a number of areas. I mean how should we ultimately be thinking about the regearing of the balance sheet towards the bottom end of that range. Do you expect to be well below for a long period of time?