EURASIAN NATURAL RESOURCES CORPORATION PLC (ENRC, United Kingdom) announces preliminary FY2012 results
April 16. KASE
EURASIAN NATURAL RESOURCES CORPORATION PLC (London), whose shares officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the following press-release of March 20, 2013:
Financial Highlights for 2012
– Financial performance impacted by poor pricing environment.
– Revenue declined by 18% to US$6,320 million.
– Cost of sales up 6% to US$3,723 million, as a result of higher depreciation.
– Underlying EBITDA fell by 45% to US$1,887 million; Underlying EBITDA margin of 29.9%.
– Non-cash charges for impairment and an onerous contract provision totalling approximately US$1.5 billion, primarily related to Aluminium of Kazakhstan, the Group’s contract with RUSAL, and Boss Mining.
– Basic loss per share of US 62 cents (2011 earnings per share: US 153 cents); earnings per share (adjusted) of US 41 cents (2011: US 155 cents).
– No final dividend proposed; full year payout ratio of 16% based on interim dividend of US 6.5 cents.
– Gross available funds of US$743 million; borrowings of US$5,833 million. US$3,000 million of additional facilities obtained since the start of 2012.