Orica’s Annual Reporting Suite shares the progress the company has made towards creating financial, people, societal, customer and environmental value, and its efforts towards making Orica a safer, more sustainable business.
Orica Chairman Malcolm Broomhead, and Managing Director and CEO Sanjeev Gandhi said:
“This year has presented both challenges and opportunities for our business, including geopolitical tensions, trade sanction, strong commodity prices and security of supply risks.
“However, our people have risen to challenge and shown unwavering commitment and resilience, which has resulted in improved financial performance and growth across our business. We are now well-positioned to navigate ongoing external challenges with the strength of our global network and culture, and a strengthened balance sheet.
“We are making significant progress towards a simpler, more efficient and more sustainable organisation, to continue delivering value to our stakeholders. Together, we continue to address what we can control and guided by our values, are advancing our refreshed strategy to deliver on our purpose to sustainably mobilise the earth’s resources.”
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1 Scope 1 greenhouse gas emissions are direct emissions from operations that are owned or controlled by the reporting company. For Orica, these are primarily emissions from industrial manufacturing processes and natural gas feedstocks. Scope 2 greenhouse gas emissions are indirect emissions from the generation of purchased or acquired electricity, steam, heat or cooling that is consumed by operations that are owned or controlled by the reporting company.
2 Power Purchase Agreement (PPA) A type of contract that allows a consumer, typically large industrial or commercial entities, to form an agreement with a specific energy generating unit. The contract itself specifies the commercial terms including delivery, price, payment, etc. In many markets, these contracts secure a long‑term stream of revenue for an energy project. In order for the consumer to say they are buying the electricity of the specific generator, attributes shall be contractually transferred to the consumer with the electricity.
3 Serious injury case rate (unit of measure: per 200,000 hours worked)
4 Severity 3 environmental events result in relatively wide-spread serious environmental damage, with some impairment of ecosystem function that will recover after remediation.
5 EBIT is defined as earnings from Continuing Operations before interest, tax and individually significant items
6 NPAT Net profit/loss after tax attributable to shareholders of Orica Limited