OM Holdings Limited Reports Preliminary Consolidated Earnings Results for the Year Ended December 31, 2016
February 27, 2017 at 04:32 pm EST
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OM Holdings Limited reported preliminary consolidated earnings results for the year ended December 31, 2016. For the period, revenue was AUD 414,243,000 against AUD 338,463,000 a year ago. This increase was underpinned by higher tonnages of alloys traded, and a strong rebound in prices of manganese ore. Loss from operations was AUD 35,512,000 against AUD 130,110,000 a year ago. Loss before income tax was AUD 24,938,000 against AUD 131,632,000 a year ago. Loss for the year was AUD 33,567,000 against AUD 125,041,000 a year ago. Loss attributable to owners of the company was AUD 8,886,000 or 1.21 cents per basic and diluted share against AUD 122,101,000 or 16.69 cents per basic and diluted share a year ago. Net cash generated from operating activities was AUD 13,174,000 against net cash used in operating activities of AUD 34,923,000 a year ago. Purchase of property, plant and equipment was AUD 16,900,000 against AUD 91,948,000 a year ago. Payments for exploration and evaluation costs were AUD 299,000 against AUD 802,000 a year ago. Adjusted EBITDA was AUD 34.5 million against adjusted LBITDA of AUD 37.6 million a year ago. Adjusted EBIT was AUD 10.8 million against adjusted LBIT of AUD 69.1 million a year ago.
OM Holdings Limited is a Singapore-based vertically integrated manganese ore and ferroalloy company. The Company supplies manganese ores and ferroalloys. Through its global trading network, the Company distributes products from its Asia-Pacific base to customers across the world. The Company is engaged in the business of trading raw ores, smelting and marketing processed ferroalloys. Its businesses include Bootu Creek Mine, Samalaju Smelting Complex, Qinzhou Smelter, Marketing & Trading, and Tshipi Borwa. The Company operates through three segments: Mining, Smelting, and Marketing and trading. The Mining segment is engaged in the exploration and mining of manganese ore. The Smelting segment is engaged in the production of manganese ferroalloys, ferrosilicon and manganese sinter ore. The Marketing and trading segment is engaged in the trading of manganese ore, manganese ferroalloys, ferrosilicon, sinter ore, chrome ore and iron ore.