New World Resources - Unaudited Q1 2013 results and business optimisation steps
New World Resources Plc ('NWR' or the 'Company') today announces its unaudited
financial results for the first quarter of 2013 and steps to optimise its business.
Q1 2013 Financial summary
- Revenues of EUR 240 million, down 31%.
- Cash mining unit costs of EUR 86/t, up 2%1.
- EBITDA of EUR (22) million.
- Basic loss per A share of EUR (0.31).
- Net debt of EUR 643 million; Debt maturity profile pushed out.
- Waivers agreed for financial covenants in NWR's bank facilities.
- Cash of EUR 193 million with further EUR 100 million available under RCF.
Q1 2013 Operational summary
- LTIFR2 of 5.71, improvement of 21%.
- Regrettably, two miners died in fatal accidents this year.
- Coal production of 2.1Mt, and external sales of 2.0Mt.
- External sales mix of 49% coking coal and 51% thermal coal.
- Coke production of 168kt and external sales of 149kt.
Business optimisation steps
- EUR 100 million short-term measures at current operations to enhance NWR's financial position.
- Business portfolio optimisation to ensure the existing business is cash neutral in current pricing environment, including divestment of OKK.
- 2013 targets reflecting the continuation of difficult trading conditions and price pressures.
- Strategic target to become Europe's leading miner and marketer of coking coal by 2017 reiterated.
Přiložený dokument ke stažení
Press release (ENG)
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