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TERRACOM LIMITED — Earnings Release 2020
Sep 24, 2020
65910_rns_2020-09-24_2fd0b3e7-5a57-42af-bef9-bc1bba4a43fb.pdf
Earnings Release
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TerraCom Limited
Blair Athol Mine Access Road
Clermont, Queensland, 4721
+61 7 4983 2038
ASX ANNOUNCEMENT
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25 September 2020
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FY2020 AUDITED FINANCIAL RESULTS SUMMARY
TerraCom Limited ( TerraCom or Company ) provides the following summary with respect to the FY2020 Audited Financial Report released to the market today, noting that there has been no material change to the Net Loss after tax (NPAT) as disclosed within the Statement of Profit or Loss.
HIGHLIGHTS[1]
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Earnings: $79.5m Underlying EBITDA
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Coal Sales: Record Coal Sales 9.98Mt, up 11%
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Coal Production: Record ROM Production 14.55Mt, up 26%
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Mine Transition: Transitioned to owner - operator at the Group’s Blair Athol coal mine in Queensland, Australia
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Maiden Dividend Declared: Interim Dividend of 1c per share declared and paid in November 2019.
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Major Acquisitions: Acquired 100% of Universal Coal plc
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Disposals: Disposal of the Group’s Mongolian Assets
| EARNINGS SUMMARY | FY2020 | FY2019 |
|---|---|---|
| $M | $M | |
| EBITDA | $10.7 | $96.9 |
| Adjustments: | ||
| Add: BA Transition write-offs. | $14.5 | |
| Add: UNV generated EBITDA during July 2019 to March 2020. | $61.0 | |
| Add: Transaction costs (TER + UNV costs). | $9.7 | |
| Less: Gain on acquisition. | ($10.1) | |
| Less: Foreign exchange gain | ($6.3) | |
| Underlying EBITDA | $79.5 | |
| Net loss after tax (NPAT) | ($147.1) | ($11.3) |
| Adjustments: | ||
| Add: BA Transition write-offs. | $14.5 | |
| Add: UNV generated NPAT during July 2019 to March 2020. | $21.2 | |
| Add: Transaction costs (TER + UNV costs). | $9.7 | |
| Add: Disposal of Mongolia. | $115.2 | |
| Less: Gain on acquisition. | ($10.1) | |
| Underlying netprofit after tax(NPAT) | $3.4 |
1 Refer slide 6 of the FY2020 Results Presentation released on 1 September 2020
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PRODUCTION SUMMARY
| MANAGED TONNES | MANAGED TONNES | MANAGED TONNES | MANAGED TONNES | EQUITY TONNES | EQUITY TONNES | EQUITY TONNES | ||
|---|---|---|---|---|---|---|---|---|
| ROM Tonnes | Coal Sales | ROM Tonnes | Coal Sales | |||||
| 2020FY | 2019FY | 2020FY | 2019FY | 2020FY | 2019FY | 2020FY | 2019FY | |
| Australia | 3,052 | 2,647 | 2,589 | 2,298 | 3,052 | 2,647 | 2,589 | 2,298 |
| Blair Athol | 3,052 | 2,647 | 2,589 |
2,298 | 3,052 |
2,647 | 2,589 |
2,298 |
| South Africa | 11,494 | 8,883 | 7,389 | 6,721 | 6,300 | 5,208 | 4,036 | 3,810 |
| Kangala | 3,109 | 3,865 | 1,935 | 2,404 | 2,192 | 2,725 | 1,364 | 1,695 |
| NCC | 3,955 | 2,969 | 2,620 | 2,535 | 1,938 | 1,455 | 1,284 | 1,242 |
| NBC | 3,929 | 2,049 | 2,578 | 1,782 | 1,925 | 1,029 | 1,263 | 873 |
| Ubuntu | 501 | - | 256 | - | 245 | - | 125 | - |
| Total | 14,546 | 11,530 | 9,978 | 9,019 | 9,352 | 7,855 | 6,625 | 6,108 |
This announcement has been approved by the Company’s Disclosure Committee for release.
Danny McCarthy Nathan Boom Chief Executive Officer Chief Financial Officer P +61 7 4983 2038 P +61 7 4983 2038 E [email protected] E [email protected]
About TerraCom Limited
TerraCom Limited ( ASX: TER ) is an emerging company originating as a resource explorer with a large portfolio of operating assets in Australia and South Africa. We are currently enacting a growth strategy towards delivering a Mid-Tier diversified operating and trading business and have a global focus on the development of a high yielding diversified asset portfolio for its investors. To learn more about TerraCom visit terracomresources.com.
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