NWR - Unaudited H1 2015 Results
Unaudited H1 2015 Results
New World Resources Plc ('NWR' or the 'Company') today announces its unaudited financial results for the first six months of 2015. Comparative information, unless otherwise stated, is for the first six months of 2014.
H1 2015 Financial summary
§ Revenues of EUR 286 million, down 17%.
§ Coking coal average realised price of EUR 93/t, up 7%.
§ Thermal coal average realised price of EUR 52/t, down 10%.
§ Cash mining unit costs of EUR 71/t, up 11% on 20% lower production. On target for mid EUR 60s for FY 2015.
§ Selling and administrative expenses down 26% to EUR 53 million.
§ EBITDA of EUR 3 million, down from EUR 19 million in H1 2014.
§ Non-cash gain of EUR 49 million on fair value revaluation of mandatory convertible notes booked in Q1 2015.
§ Basic earnings per A share of 0.17 eurocents compared to a basic loss per A share of 7.25 eurocents for H1 2014.
§ Net debt of EUR 286 million.
§ Cash of EUR 89 million as of 30 June 2015.
H1 2015 Operational summary
§ Regrettably, three miners lost their lives in August 2015 following an isolated incident.
§ Safety metrics LTIFR of 5.54 vs. 8.18 in FY 2014.
§ Coal production of 3.6Mt, down 20% and coal sales of 3.3Mt, down 17%.
§ Coal sales mix of 62% coking coal and 38% thermal coal.
§ CAPEX of EUR 22 million, down 11%.
§ Coal Inventory of 938kt, up 9% year on year.
§ Total headcount including contractors down 4%.
2015 Prices and targets
§ Average price for 74% of 2015 expected coking coal production agreed at EUR 93/t.
§ Average price for thermal coal production agreed at EUR 52/t.
§ Production and sales volume of 7.5 - 8.0Mt and 8.0Mt respectively.
§ 60% coking coal in the sales mix.
§ Cash mining unit costs of around EUR 65 per tonne.
§ CAPEX of EUR 30-40 million.
§ Improvement in LTIFR towards the target of below 5.
§ Mr. Boudewijn Wentink joins the Board of NWR as Finance and Legal Director and Executive Director from 19 August 2015, succeeding Marek Jelínek.
§ Mr. Colin Keogh, Independent Non-Executive Director, has resigned from the Board of NWR with effect from 19 August 2015.
Přiložený dokument ke stažení
Press release (ENG)
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