NOBLE GROUP LIMITED Noble Group Holdings Limited
(Asset Co Group)
Unaudited 9 Months Results September 2022
Date: November 2022
Executive Summary
Executive Summary | 3 |
9 months ended 30 September 2022
Noble Group Holdings Limited ("NGHL") is an asset holding company. Through its wholly- owned subsidiary Noble New Asset Co Limited, NGHL holds interests in two principal assets, Jamalco and Harbour Energy PLC.
Apr
Jun
Jul
-
Deleveraging and reorganization of NGHL. The commodities trading business formerly carried on by NGHL has been transferred to Noble Resources Trading
Holdings Limited ("Noble Resources"). - Completion of 2022 Notes extension for a period of two years to 20 June 2024. The 2022 Notes are now known as the Noble New Asset Co Ltd Senior Secured PIK
Notes Due 2024 ("2024 Notes"). - Completion of the EIG distribution of Harbour Energy Plc shares. Following this distribution, NGHL holds 9.19% of the issued share capital of Harbour. No restrictions on potential disposal of any of the Harbour shares received by NGHL group as part of this distribution by EIG.
- Publication of NGHL Sustainability Report for the period 1 January 2020 to 31 December 2021.
- Jamalco resumed production after the fire in August 2021
Aug Sep
- Jamalco continued to ramp up alumina production towards 50% of pre-fire levels
- First alumina shipments of ~63,000MT from Jamalco to long term customers
To date Jamalco's reconstruction has been funded by a comprehensive insurance policy
Asset Co Group Financial Results
Financial Highlights | 5 |
9 months ended 30 September 2022
▪
▪
Jamalco back to production progressively in Q3 since the fire at Jamalco's powerhouse happened in August 2021.
Operating loss from supply chains of US$(101) million due to fire event at Jamalco plant in August 2021 which halted alumina
production resulted in minimal revenue whilst fixed costs continued to incur. Nevertheless, this is offset by insurance compensation booked in other income line.
- Cash balances of US$100 million and net debt of US$495 million at 30 September 2022.
Asset Co (US$ millions) | 9M 2022 | 9M 2021 | Asset Co (US$ millions) | 30 Sep 2022 | 31 Dec 2021 |
Volumes (million tonnes) | 0.1 | 0.8 | Cash equivalents | 100 | 75 |
Operating income/(loss) | (101) | 0 | Debt (bond) | 595 | 550 |
from supply chains | |||||
Adjusted EBITDA(1) | 47 | 3 | Net debt | 495 | 474 |
- Adjusted for non-cash elements and items outside of underlying performance.
This is an excerpt of the original content. To continue reading it, access the original document here.
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
Noble Group Ltd. published this content on 15 November 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 November 2022 00:57:08 UTC.
