OM Holdings Limited Reports Preliminary Consolidated Earnings Results for the Six Months Ended June 30, 2016
August 30, 2016 at 03:45 am IST
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OM Holdings Limited reported preliminary consolidated earnings results for the six months ended June 30, 2016. For the period, revenue was AUD 183,442,000 against AUD 148,331,000 a year ago, representing a 24% increase on first half of 2015, mainly from higher tonnages of alloys traded, and a moderate rebound in prices of manganese ores. Loss from operations was AUD 78,286,000 against AUD 34,364,000 a year ago. Loss before income tax was AUD 76,357,000 against AUD 30,005,000 a year ago. Loss attributable to owners of the company was AUD 58,194,000 or 7.95 cents per diluted share against AUD 31,310,000 or 4.28 cents per diluted share a year ago. Net cash generated from operating activities were AUD 15,174,000 against net cash used in operating activities of AUD 42,109,000 a year ago. Purchase of property, plant and equipment was AUD 8,152,000 against AUD 47,377,000 a year ago. Payments for exploration and evaluation costs was AUD 232,000 against AUD 493,000 a year ago. Adjusted EBITDA was AUD 3.7 million compared to adjusted LBITDA of AUD 2.0 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.