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    HZN   AU000000HZN8

HORIZON OIL LIMITED

(HZN)
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Horizon Oil : FY21 Results Presentation

08/25/2021 | 07:41pm EDT

FULL YEAR RESULTS PRESENTATION

AUGUST 2021

HORIZON OIL LIMITED | ABN 51 009 799 455

FY21 FULL YEAR HIGHLIGHTS

PRODUCTION AND FINANCIAL METRICS WITHIN / EXCEEDING FY21 GUIDANCE RANGE

Production Volume

Sales Revenue

EBITDAX

1.33 MMbbl

US$63.6 million

US$36.4 million

Net Cash

Underlying Profit after Tax

Cash on Hand

US$31.7 million

US$7.8 million

US$44.4 million

FY21 RESULTS PRESENTATION

26 AUGUST 2021

PAGE 2

FY21 EXECUTIVE SUMMARY

STRONG CASHFLOW DRIVING VALUE FOR SHAREHOLDERS

NET CASH

RETURNS TO

STRONG

REDUCED

US$32 MILLION

SHAREHOLDERS

PRODUCTION

COSTS

FY21 RESULTS PRESENTATION

26 AUGUST 2021

PAGE 3

FINANCIAL RESULTS

2021 FULL-YEAR HIGHLIGHTS

LOW COST, CASH GENERATIVE OIL PRODUCER

  • Cashflow positive during low oil prices - cashflow from operating activities of US$23.2 million
  • Strengthened balance sheet -net cash of US$31.7 million at 30 June 2021, an increase of US$31.2 million during the financial year
  • Efficient operations - continued rationalisation of operating costs <_us24_20>
  • Drilling activities - investment during the low oil price environment resulted in increased production as the oil price strengthened
  • Workovers - 10 workovers across both fields safely completed
  • Capital management initiatives - return of capital to shareholders through on-marketand off-market buy-backsof 23.0 million shares and announced A$47.4 million share capital return
  • Environmental, Social & Governance (ESG) - continued focus with no losses of containment, strong safety record (TRIFR 1.02)

Resilient cashflow despite COVID-19 pandemic

which impacted operations and oil prices

FY 2021

FY 2020

Production Volumes (MMbbl)

1.33

1.48

Sales Volumes (MMbbl)

1.27

1.43

Revenue (USD)

$63.6 million

$84.0 million

EBITDAX (USD)1

$36.4 million

$51.4 million

Underlying Profit after tax

$7.8 million

$8.3 million

(USD)1

Statutory Profit/(Loss) after

$8.0 million

($55.1 million) Loss

tax (USD)

Net Cash (USD) at 30 June

$31.7 million

$0.5 million

Cash (USD) at 30 June

$44.4 million

$25.9 million

1 Excludes profit/loss from PNG discontinued operations

FY21 RESULTS PRESENTATION

26 AUGUST 2021

PAGE 5

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Horizon Oil Limited published this content on 26 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 August 2021 23:40:06 UTC.


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Financials (USD)
Sales 2021 63,6 M - -
Net income 2021 8,01 M - -
Net cash 2021 32,0 M - -
P/E ratio 2021 16,0x
Yield 2021 28,6%
Capitalization 108 M 108 M -
EV / Sales 2020 0,64x
EV / Sales 2021 1,45x
Nbr of Employees -
Free-Float 67,3%
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Managers and Directors
Christopher Charles Hodge CEO & Non-Executive Director
Richard John Beament Chief Financial Officer & Secretary
Richard Michael Harding Chairman
Bruce Frederick William Clement Independent Non-Executive Director
Gerrit Jan de Nys Non-Independent Non-Executive Director
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