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TERRACOM LIMITED — Earnings Release 2020
Aug 31, 2020
65910_rns_2020-08-31_f509868e-845f-4d74-9698-64297d9ba105.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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1 September 2020
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FY2020 RESULTS SUMMARY
TerraCom Limited ( TerraCom or Company ) provides the following summary with respect to the FY2020 Financial Results released to the market today.
HIGHLIGHTS[1]
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Earnings: $79.6m 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
| EARNINGS SUMMARY | ||
|---|---|---|
| FY2020 | FY2019 | |
| $M | $M | |
| EBITDA | $4.5 | $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) | |
| Underlying EBITDA | $79.6 | |
| Net loss after tax (NPAT) | ($146.1) | ($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) | $4.1 |
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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