Supplementary Explanation for Financial Summary

FY2021

【IFRS】

May 10th, 2022

The materials provided herein are not intended as disclosure under the Securities Law, and no warranty is made as to their completeness or accuracy. Any projections included in these materials are based solely on information available at the time of this briefing, and are subject to change based on market conditions, competitive conditions, and a number of other factors. Therefore, we ask that you refrain from making any investment decisions based on these materials alone. The Company cannot be held responsible in any way for any losses that may occur as a result of the use of these materials.

All copyrights, trademarks, and intellectual property rights attaching to the materials herein are the sole property of Sumitomo Metal Mining Co., Ltd..

Comparison

FY2021 Result vs FY2020 Result / FY2021 Forecast in Feb.

JPY 100M

FY2021 ① Result

FY2020 ②Result

Diff. ① -②

FY2021

③Forecast in Feb.

Diff. ① -③

Net sales

12,591

9,261

+3,330

12,110

+481

Gross profit

2,578

1,509

+1,069

2,300

+278

Profit before tax

3,574

1,234

+2,340

3,140

+434

Net income *1

2,810

946

+1,864

2,480

+330

(Inventory evaluation P&L)

138

-6

+144

110

+28

(Other exchange gain / loss *2)

87

-10

+97

25

+62

Cu ($/t)

9,691

6,879

+2,812

9,445

+246

Ni ($/lb)

9.35

6.80

+2.55

8.51

+0.84

Au ($/toz)

1,818

1,824

-6

1,787

+31

Co ($/lb)

27.46

16.62

+10.84

25.58

+1.88

Exchange (￥/$)

112.39

106.07

+6.32

112.08

+0.31

Exchange

22/3E

21/12E

21/9E

21/6E

21/3E

(￥/$)

122.41

115.01

111.95

110.61

110.71

(Note) Changes in accounting policies regarding non-free supplied materials were retroactively applied to sales of FY2020.

【Comparison FY2021 vs FY2020 ① -②】

Profit before tax +2,340

Metal Price/Exchange +1,674 (Metal Price +1,427 (Cu +959, Ni +370, Co +85, Au +11, etc.), Exchange +90,

Inventory evaluation +157), Quantity -44, Other exchange gain / loss +97, Cost@ -202, Material Business +171,

Transferring Interest of Sierra Gorda +744, Cost associated with QB2 project suspension (of FY2020) +62,

Reversal of allowance for doubtful accounts for Sierra Gorda (of FY2020) -86, Others -76

【Diff. of FY2021 Reslut vs FY2021 Forecast in Feb. ① -③】

Profit before tax +434

Metal Price/Exchange +231 (Metal Price +201 (Cu -1, Ni +174, Co +23, Au +6, etc.), Exchange +2,

Inventory evaluation +28, Quantity +8, Other exchange gain / loss +62, Cost@ -12, Material Business +46,

Others +99

FY2022 Forecast vs FY2021 Result

JPY 100M

FY2022 ① Forecast

FY2021 ②Result

Diff. ① -②

Net sales

13,310

12,591

+719

Gross profit

2,220

2,578

-358

Profit before tax

1,940

3,574

-1,634

Net income *1

1,370

2,810

-1,440

(Inventory evaluation P&L)

1

138

-137

(Other exchange gain / loss *2)

-24

87

-111

Cu（$/t）

9,000

9,691

-691

Ni（$/lb）

9.50

9.35

+0.15

Au（$/toz）

1,750

1,818

-68

Co ($/lb)

30.00

27.46

+2.54

Exchange (¥/$)

120.00

112.39

+7.61

【FY2022 Forecast vs FY2021 Result ① -②】

Profit before tax -1,634

Metal Price/Exchange -111 (Metal Price -177 (Cu -122, Ni -51, Co +14, Au -17, etc.), Exchange +197,

Inventory evaluation -131), Quantity +135, Other exchange gain / loss -111, Cost@ -155, Material Business -176,

Transferring Interest of Sierra Gorda (of FY2021) -744 (of FY2021), Profit of Sierra Gorda (of FY2021) -82,

Interest received -64, Others -326

*1: Net income (loss)＝Profit (loss) attributable to owners of parent

*2: Other exchange gain / loss: Exchange gain or loss included in Finance income (or cost) and Other income (or expenses).

(1)

Metal price and Exchange rate

Copper ($/t)

Copper (￠ /lb)

Nickel ($/lb)

FY2019

FY2020

FY2021

FY2019

FY2020

FY2021

FY2019

FY2020

FY2021

Apr May Jun

6,445 6,028 5,868

5,048 5,234 5,742

9,336 10,184 9,612

292 273 266

229 237 260

423 462 436

5.81 5.44 5.43

5.33 5.50 5.76

7.48 7.99 8.14

1QAve.

6,114

5,341

9,711

277

242

440

5.56

5.53

7.87

Jul Aug Sep

5,940 5,708 5,745

6,354 6,497 6,712

9,434 9,357 9,324

269 259 261

288 295 304

428 424 423

6.11 7.11 8.02

6.05 6.57 6.74

8.54 8.69 8.80

2QAve.

5,798

6,521

9,372

263

296

425

7.08

6.45

8.68

Oct Nov Dec

5,743 5,860 6,062

6,703 7,063 7,755

9,779 9,765 9,550

260 266 275

304 320 352

444 443 433

7.76 6.89 6.26

6.90 7.16 7.62

8.81 9.06 9.10

3QAve.

5,888

7,174

9,698

267

325

440

6.97

7.23

8.99

Jan Feb Mar

6,049 5,686 5,179

7,971 8,460 9,005

9,776 9,941 10,238

274 258 235

362 384 408

443 451 464

6.15 5.78 5.39

8.10 8.42 7.47

10.13 10.97 14.45

4QAve.

5,638

8,479

9,985

256

385

453

5.77

8.00

11.85

FY Ave.

5,860

6,879

9,691

266

312

440

6.35

6.80

9.35

Jan-Dec Ave.

6,005

6,169

9,315

272

280

423

6.31

6.25

8.38

FY2022 (FCST on May)

9,000

408

9.50

Cobalt ($/lb)(Standard-Low)

Gold ($/toz)

Exchange （¥/US$)

FY2019

FY2020

FY2021

FY2019

FY2020

FY2021

FY2019

FY2020

FY2021

Apr May Jun

15.36 16.07 14.23

15.55 14.91 14.45

21.48 20.03 20.50

1,287 1,284 1,359

1,681 1,716 1,733

1,760 1,850 1,835

111.73 109.87 108.12

107.96 107.35 107.56

109.15 109.20 110.14

1QAve.

15.22

14.97

20.67

1,310

1,710

1,815

109.91

107.62

109.50

Jul Aug Sep

12.61 14.69 17.16

13.82 14.97 15.36

24.20 23.97 24.40

1,414 1,498 1,511

1,842 1,970 1,923

1,807 1,784 1,779

108.28 106.33 107.45

106.84 106.05 105.77

110.31 109.85 110.18

2QAve.

14.82

14.72

24.19

1,474

1,912

1,790

107.35

106.22

110.11

Oct Nov Dec

17.67 16.67 15.34

15.56 15.51 15.45

26.50 29.13 32.79

1,495 1,471 1,478

1,901 1,866 1,855

1,776 1,820 1,788

108.15 108.90 109.25

105.27 104.42 103.85

113.12 114.15 113.89

3QAve.

16.56

15.50

29.47

1,481

1,874

1,795

108.77

104.51

113.72

Jan Feb Mar

15.86 16.80 16.61

17.31 22.38 24.17

34.01 34.70 37.84

1,561 1,598 1,593

1,868 1,811 1,720

1,817 1,857 1,948

109.39 109.99 107.44

103.70 105.38 108.64

114.86 115.23 118.54

4QAve.

16.42

21.29

35.51

1,584

1,800

1,874

108.94

105.91

116.21

FY Ave.

15.76

16.62

27.46

1,462

1,824

1,818

108.74

106.07

112.39

Jan-Dec Ave.

16.09

15.40

23.90

1,392

1,770

1,800

109.06

106.82

109.81

FY2022 (FCST on May)

30.00

1,750

120.00

LME Price

21/1Q

21/2Q

21/3Q

21/4Q

E-Ni applied

Mar-May

7.65

Jun-Aug

8.46

Sep-Nov

8.89

Dec-Feb

10.07

Fe-Ni applied

Jan-Mar

8.00

Apr-Jun

7.87

Jul-Sep

8.68

Oct-Dec

8.99

Exchange

21/1Q

21/2Q

21/3Q

21/4Q

E-Ni applied

Mar-May

109.00

Jun-Aug

110.10

Sep-Nov

112.48

Dec-Feb

114.66

Fe-Ni applied

Jan-Mar

105.91

Apr-Jun

109.50

Jul-Sep

110.11

Oct-Dec

113.72

(2)

Comparison

JPY100M

Gross Profit

FY2021 ①

FY2020 ②

Diff. ① -②

Mineral Resources

914

587

+327

Smelting & Refining

1,247

646

+601

Materials

425

250

+175

Others

24

19

+5

Diff. Adjustment

-32

7

-39

Gross Profit

2,578

1,509

+1,069

Materials

Gross Profit

FY2021

FY2020

Diff.

②

Mineral Resources

914 1,247

425

587 646

250

+327 +601 +175

Others Diff. Adjustment

Gross Profit

2,578

1,509

+1,069

Segment Profit (loss)

FY2021 ③

FY2020 ④

Diff. ③-④

Mineral Resources

2,085

631

+1,454

Smelting & Refining

1,148

530

+618

Materials

276

105

+171

Others

-9

-28

+19

Diff. Adjustment

74

-4

+78

Profit before tax

3,574

1,234

+2,340

Segment Profit (loss)

JPY100MFY2021 ③

FY2020 ④

Diff. ③

Mineral ResourcesMaterials

2,085 1,148

276

105

631 530

+1,454 +618 +171

Others Diff. Adjustment Profit before tax

3,574

1,234

+2,340

<> 1. Mineral Resources

JPY100M

Au Sales (t)

FY2021

FY2020

Diff.

Hishikari (Au)

6.0

6.0

0.0

2．Smelting & Refining

JPY100M

Diff.

Quantity

Price

Cost@

Inventory

Others

Copper

+267

+19

+19

-26

+142

+113

Nickel

+362

-26

+455

-131

+16

+48

Others*

-28

-1

-27

Total

+601

-7

+474

-157

+157

+134

*Others consisits mainly the eliminations of transactions within the segment.

・Inventory evaluation P&L

Total

Cu

Ni

Others

FY2021

133

83

50

0

FY2020

-24

-59

34

1

Comparison

3．Materials (Net sales)

JPY100M

FY2021 ①

FY2020 ②

Diff. ① -②

Battery Materials (NCA, NMC, Nickel Hydroxide, etc.)

1,359

956

+403

Applied Powder Materials

(Thick Film, Thin Film, Magnet, Alloy, Ink, etc. )

512

372

+140

Package Materials (CuPI, PWB, etc.)

215

173

+42

Crystal Material, Construction Materials, Connector, Others

694

614

+80

Total

2,780

2,115

+665

(Note) Changes in accounting policies regarding non-free supplied materials were retroactively applied to sales of FY2020.

Equity in earnings of affiliated companies

JPY100M

FY2021

FY2020

Diff. ① -②

①

②

Cu

Cerro Verde

266

52

+214

Candelaria/Ojos

104

19

+85

Sierra Gorda

82

-35

+117

Acids/Jinlong/MSMMBC

58

26

+32

Total

510

62

+448

Ni

PT Vale Indonesia/Figesbal/NAC

50

34

+16

NECC/NK/MSZ/others

15

-9

+24

Total

575

87

+488

Mineral Resources

445

6

+439

Smelting & Refining

110

60

+50

Materials/Others

20

21

-1

Total

575

87

+488

Sierra Gorda is excluded from 21/3Q

Segment

Main changes in financial income/cost and other income/cost

(amount displayed in profit and loss)JPY100M

FY2021

FY2020

Diff. ① -②

①

②

Finance income/cost (exchange gain/loss from valuation of financial assets and liabilities)

182

21

+161

Other income/cost (exchange gain/loss from settlement of other assets and liabilities)

-95

-31

-64

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

Attachments

  • Original Link
  • Original Document
  • Permalink

Disclaimer

Sumitomo Metal Mining Co. Ltd. published this content on 10 May 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 May 2022 06:13:02 UTC.