Company News Summary | 06 Apr 2021

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Incitec Pivot Provides Waggaman Ammonia Plant Update

09:00:00 | Associate analysts

Original annuncemenet:Waggaman Ammonia Plant Update

Incitec Pivot provided an update on operations at its Waggaman ammonia plant. It advised that based on the current work plan, the adverse impact due to the further delay in startup in FY 2021 on an earnings before interest and tax (EBIT) basis is expected to be A$36m (or A$28m on a net profit after tax basis). The adverse EBIT impact in 1H FY 2021 is expected to be A$15m with an additional adverse EBIT impact in 2H FY 2021 of A$21m. The turnaround cost has been finalised at A$80m which will be depreciated over a four-year period. The impact of depreciation has been incorporated in FY 2021 earnings updates.

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