Industrials

• Non-underlying adjustments of $148 million, mainly impairments linked to BTP, AMS and idoba, reduced reported profit but not the underlying measure.

• The company recorded a net loss of $616.6 million, driven by a large non-cashImpairmentin the glass unit.

• In the six months to 31 March 2026 it generated EBIT of $434.9 million, broadly flat on the prior period's $435.1 million.

• Underlying EBITA, which isEarningsbefore interest, tax andAmortisationof acquired intangibles, was $288.6 million, up 38.8 per cent.

• That compares with FY26 underlying EBITDA of $170.1 million, so the guidance implies continued growth rather than a plateau.

• M7 traffic climbed 10.7% following the M7-M12 Integration Project, which opened in June 2026, while WestConnex rose 2.2%.

• Ventia reports on a calendar-year basis, so its 2026 guidance relates to the year ending 31 December 2026.