• Saverglass FY26 EBIT expected at €52m-€59m, down from previous guidance
• Direct impact of Middle East conflict on Saverglass 2H26 EBIT of €9m-€11m
• Indirect impact of lower volumes and mix shift to lower margin products of €11m-€16m

Orora has provided a trading update for FY26, highlighting the impact of the ongoing Middle East conflict on its Saverglass business. The company now expects Saverglass FY26 underlying EBIT to be approximately €63m to €68m, compared to previous guidance of broadly in line with FY25 EBIT of €79.2m. The reported FY26 EBIT for Saverglass is now expected to be approximately €52m-€59m. This reduction reflects both direct and indirect impacts of the Middle East conflict. The direct impact relates to operational and financial impacts at the Ras al Khaimah (RAK) facility in the United Arab Emirates, with a 2H26 EBIT impact of approximately €9m-€11m. The indirect impact is a combination of lower volumes than initially forecast and a greater than anticipated negative mix shift towards premium wine and champagne compared to a decline in premium spirits, resulting in a 2H26 EBIT impact of approximately €11m-€16m. Orora has decided to transition the RAK facility to a closed-loop 'hot' operation, with production shifting to Mexico. There is no change to existing guidance for Orora's Cans or Gawler businesses for FY26. Orora's balance sheet remains strong, with leverage forecast to remain below 1.5x at June 2026. The on-market buyback announced at the 1H26 results will be paused while the company continues to monitor the implications of the Middle East conflict.

Saverglass FY26 reported EBIT expected at €52m-€59m, down from previous guidance of broadly in line with FY25 EBIT of €79.2m.