Australia's Orora slips on Mideast impact, buyback pause; Citi 'cautiously negative'

Orora

09/04/2026 04:57

Updates

** Orora ORA.AX slips as much as 18.7% to A$1.605; marks biggest intraday pct loss since October 28, 2014

        ** Shares hit lowest since August 15, 2019

** Citi cautiously negative on glass bottles maker on Saverglass earnings cut, Middle East impact

** Brokerage notes profit drag, higher inventories to have cash impact of more than A$50 million ($35.2 million)

** Co cuts earnings forecast for Saverglass business; says production paused in UAE's Ras al Khaimah facility

** Orora acquired Saverglass in 2023

** Orora pauses on-market share buyback announced in February; had intended to buy back up to 10% of issued shares for ~A$270 million

** Stock rated "hold" on avg; median PT is A$2.4, per data compiled by LSEG

** YTD, ORA down 27%

($1 = A$1.4215)

 (Reporting by Nichiket Sunil, Aamir Sheik Khalid in Bengaluru)

 ((Nichiket.Sunil@thomsonreuters.com Aamir.SheikKhalid@thomsonreuters.com))