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8 ORICA MEDIA RELEASE 13 MAY 2021 MARKET FACTORS IMPACT RESULTS , FUNDAMENTALS REMAIN SOUND Melbourne : Orica ( ASX : ORI ) today announced Statutory Net Profit After Tax ( NPAT ) attributable to the shareholders of Orica for the six months ended 31 March 2021 of $ 77 million , down 54 per cent on the prior corresponding period ( pcp ) ; and underlying EBIT of $ 152 million , down 51 per cent on the pcp . The Board has declared an unfranked interim dividend of 7.5 cents per ordinary share , payable on 9 July 2021 , representing a 42 % payout ratio . Orica Managing Director and CEO Sanjeev Gandhi said : “ Our first half financial results are in line with our February market update and reflect the impact of various market factors . As we detailed in the update , ongoing COVID - 19 disruptions , geopolitical issues and unfavourable foreign exchange movements impacted us in the half . " As we address these challenges , we have maintained our disciplined approach to our balance sheet and capital management , while delivering a step up in cash generation and controlling our levels of debt and gearing . " Operationally , we continued to focus on what we can control , making good progress on many core strategic fronts , including growing uptake of our high margin digital solutions , the successful integration of Exsa , Burrup operating in line with our plans and further stabilisation of our SAP platform . " At the same time , we are advancing our strategy to become an even safer , more responsible and more sustainable organisation . Our major decarbonisation projects are progressing to plan and we are on track to meet our industry - leading emissions targets . Most importantly , it was a half with no fatalities and no significant environmental incidents . " Orica also announced today that it intends to run a sale process for the Minova business , which provides ground control solutions for the mining , civil / tunnelling , geotechnical and construction industries . Mr Gandhi said : " While Minova has delivered a substantially improved performance in recent times , it has been identified as non - core . Therefore , we will consider selling at an appropriate price . " Outlook Commenting on the full year outlook , Mr Gandhi said : " While the factors that impacted us in the first half are expected to largely reverse over time , and the fundamentals of our business remain sound , we remain cautious about the short - term outlook . " It has been encouraging to see volumes start to increase at the end of the half . While we expect a better second half than the first , given uncertainties remain around market factors , we expect the second half EBIT to be lower than the pcp . Authorised for release to the ASX by the Company Secretary of Orica Limited Orica Limited , 1 Nicholson Street East Melbourne VIC 3002 Australia . ABN 24 004 145 868 ... cont . over /