Dyno Nobel Ltd

DNL: XASX (AUS)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Incitec: Continued Earnings Momentum; Fertilizer Selldown and Buybacks

Mark Taylor

Mar 13, 2025

Distributor of explosives and fertilizer, Incitec's fiscal 2025 outlook remains broadly in line with that provided in November 2024. This includes a subjective build on underlying fiscal 2024 momentum with a focus on price and cost discipline, though with maintenance detracting.

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Dyno Nobel Ltd

Incitec: Continued Earnings Momentum; Fertilizer Selldown and Buybacks

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