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    ORE   AU000000ORE0

OROCOBRE LIMITED

(ORE)
  Report
End-of-day quote. End-of-day quote Australian Stock Exchange - 10/25
9.19 AUD   +0.44%
10/25OROCOBRE : Recharged Orocobre Advances Developments
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10/24OROCOBRE : Ord Minnett rates ORE as Buy
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10/24OROCOBRE : Morgan Stanley rates ORE as Equal-weight
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Orocobre : revenue jumps 10% on higher lithium price, completes merger

08/25/2021 | 12:39am EDT

MELBOURNE, Aug 25 (Reuters) - Australian lithium producer Orocobre Ltd on Wednesday posted a 10% jump in annual revenue, boosted by higher demand from electric vehicle makers, and said it had completed a $1.4 billion merger with Galaxy Resources.

Prices of lithium, a key ingredient used in electric vehicle batteries, have surged over the past year amid a global push to cut carbon emissions and move to cleaner modes of transportation.

The company's acquisition of Galaxy Resources, announced in April, will create the world's fifth most valuable producer of lithium. The combined entity will be renamed Allkem Ltd.

"The merger consolidates the combined group's position in Argentina and provides an opportunty to build on a strong platform there and in our other key jurisdictions globally, including Australia, Japan and North America," Orocobre chief executive Martín Pérez de Solay said.

Galaxy was expected to be delisted from Aug. 26.

Orocobre, which operates the Olaroz Lithium Facility in northern Argentina, said its annual revenue was $84.8 million for the year ended June, compared with $77.1 million a year earlier.

However, its after-tax loss widened to $89.5 million from $67.2 million, hurt by a $74.9 million charge due to a change in the Argentine tax rate.

Orocobre also said that the second-stage expansion of the Olaroz Lithium Facility is expected to be completed in fiscal year 2022. (Reporting by Melanie Burton in Melbourne and Harish Sridharan in Bengaluru; editing by Uttaresh.V and Richard Pullin)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
OROCOBRE LIMITED 0.44% 9.19 End-of-day quote.105.59%
All news about OROCOBRE LIMITED
10/25OROCOBRE : Recharged Orocobre Advances Developments
AQ
10/24OROCOBRE : Ord Minnett rates ORE as Buy
AQ
10/24OROCOBRE : Morgan Stanley rates ORE as Equal-weight
AQ
10/24OROCOBRE : Macquarie rates ORE as Outperform
AQ
10/24OROCOBRE : Citi rates ORE as Buy
AQ
10/21OROCOBRE : September quarterly report - 211022 - Orocobre September quarterly FINAL.pdf
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10/21Orocobre Limited Announces Production Results for the September Quarter of 2021
CI
10/21Orocobre Limited Announces Sales Results for the September Quarter of 2021
CI
10/19Orocobre seeing no impact on lithium orders from China amid power crunch - CEO
RE
10/08OROCOBRE LIMITED : - 2021 Annual General Meeting Information
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More news
Financials
Sales 2022 626 M 470 M 470 M
Net income 2022 147 M 111 M 111 M
Net Debt 2022 85,8 M 64,4 M 64,4 M
P/E ratio 2022 39,3x
Yield 2022 -
Capitalization 5 859 M 4 392 M 4 394 M
EV / Sales 2022 9,49x
EV / Sales 2023 7,62x
Nbr of Employees 548
Free-Float 82,4%
Chart OROCOBRE LIMITED
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Technical analysis trends OROCOBRE LIMITED
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 10
Last Close Price 9,19 AUD
Average target price 10,07 AUD
Spread / Average Target 9,52%
EPS Revisions
Managers and Directors
MartÝn PÚrez de Solay Chief Executive Officer, MD & Director
Neil Kaplan Chief Financial Officer & Joint Secretary
Martin Ronald Rowley Non-Executive Chairman
Hersen Porta Chief Operating Officer
Leanne Heywood Independent Non-Executive Director
Sector and Competitors