DAVY VIEW

Strong operational execution has underpinned dual earnings upgrades since March, with management’s acute focus on cash optimising the balance sheet and enabling the commencement of capital returns. In a challenging environment, Origin has demonstrated agility and capitalised on competitor dislocation. Next month’s Capital Markets Day (CMD) offers management an opportunity to showcase the strategic intent of the business and provide a roadmap for sustainable value creation. Having ranked subordinate to the important environmental agenda, the exigency of food security is now being elevated. In turn, the role of value-add supply chain participants is being re-examined.