Dyno Nobel FY26 Explosives EBIT $485m, Guides $515m-$555m

Dyno Nobel (ASX:DNL) released its FY26 results, the year in which the sale of Phosphate Hill concluded its Fertilisers separation, and gave FY27 underlying EBIT guidance of ~$515m-$555m.

Statutory Net Profit after Tax and IMIs was $66m, against a $53m loss in FY25, after IMIs of $265m (loss) after tax that primarily relate to the Phosphate Hill sale and impairment of QPM-related prepayments and receivables. NPAT ex IMIs was $331m (FY25: $423m) and Earnings Per Share ex IMIs were 18.8 cents per share (FY25: 22.8 cps). Explosives underlying EBIT ex IMIs rose to $485m from a re-based $434m. By business, DNAP EBIT was $281m, up 10%, DNA $224m, up 19%, and DNEL $18m, down 40%, which the company attributes to economic challenges in Europe and adverse weather in Chile. The final dividend is 5.0 cents per share, 50% franked. The company says its transformation program has delivered $185m of EBIT to date. The Nitradyn JV was awarded a US$581m IMX project at Graham, Kentucky in September. Dyno Nobel ceased its buyback in September 2026, having bought back $574m of shares at an average price of $3.01.

FY27 guidance assumes an earnings split of approximately 40% in the first half, and scheduled turnarounds will affect FY27 earnings. The FY28 EBIT ambition of $600m and FY31 ambition of $800m are not financial guidance. TRIFR rose to 1.01 from 0.95.