Incitec Pivot Limited announced that production at its Waggaman ammonia plant in Louisiana, USA has successfully recommenced following the incident announced on 18 February 2022, with the facility operating at nameplate capacity. IPL estimates that the impact to earnings associated with the downtime at the plant to be approximately USD 128 million on an earnings before interest and tax (EBIT) basis and USD 92 million on a Net Profit After Tax (NPAT) basis. Approximately 75% of the impact on earnings will be in the first half financial results.
IPL is continuing to work with its insurers to progress a claim under the company's comprehensive property insurance policy. IPL's first half financial results will not include any adjustments for potential insurance recoveries.