Dyno Nobel Posts A$485 Million in Underlying Explosives Operating Earnings for FY26
Key Facts
Dyno Nobel reported its FY26 results on November 9, 2026, posting underlying operating earnings of A$485 million for its explosives business, up 12% from the corresponding period. The company said in its announcement that operating earnings increased year over year, while performance across its segments and profit measures was mixed. The share-price decline cited in the draft, its timing and its connection to the results announcement could not be verified. The results therefore focus on the full financial year, not the second half alone. The figures show an improvement in statutory profit after a loss in the previous year, alongside a decline in adjusted net profit excluding significant items.
Statutory net profit after tax and significant items was A$66 million in FY26, compared with a loss of A$53 million in FY25. Net profit excluding significant items fell to A$331 million from A$423 million. The different directions of the two measures reflect the effect of significant items on the statutory result, as well as a year-over-year decline in adjusted profit. Significant items resulted in an after-tax loss of A$265 million. The company attributed these items mainly to the sale of Phosphate Hill and site exit costs, as well as impairment of payments and receivables related to QPM.
The group's total revenue was A$3,940.9 million in FY26, compared with A$5,345.2 million in FY25. Meanwhile, operating earnings in the Asia Pacific segment rose to A$281 million, up 10%, while the Americas recorded A$224 million, up 19%. By contrast, operating earnings in Europe, the Middle East and Africa, and Latin America fell 40% to A$18 million. Operating earnings growth was thus concentrated in Asia Pacific and the Americas, while the decline in the other segment weighed on the group's regional performance. The results presented a mixed picture across the regions in which the company operates during the financial year.
Dyno Nobel said the metals business was the main driver of Asia Pacific's growth, following the addition of new customers and contract renewals. It linked the Americas results to transformation initiatives and favorable market conditions. In Europe, the Middle East and Africa, and Latin America, the company attributed weaker performance to economic challenges in Europe and disruption to shipping routes due to the Middle East conflict. It also cited lower quarrying and construction spending in France and bad weather in Chile. These factors cited by the company illustrate the contrast between growth in regions that supported earnings and the decline in the segment that faced those pressures.
The company recommended a final dividend of 5.0 Australian cents per share, with 50% franked. It also issued guidance for underlying operating earnings of about A$515 million to A$555 million in FY27. Dyno Nobel expects earnings to be distributed between the halves of the next financial year at about 40% in the first half and 60% in the second half. It said scheduled maintenance work would weigh on FY27 earnings. It expects to end the year at an exit rate equivalent to 85% to 95% of its targeted increase in underlying earnings, which is about A$300 million.
The chief executive said opportunities for spending on defense products could provide new earnings streams for the business from late 2028, while scheduled maintenance work would affect FY27 earnings. This forms part of the timeframe the company gave for its outlook following the financial-year results announcement. Dyno Nobel set December 17, 2026, for its annual general meeting, the next date listed on its calendar after the results announcement. The available information provided no reliable evidence of the share's movement in the November 9 session or of a link to the results. The reported figures and forward guidance therefore remain the focus of what the company published about its performance.