Consolidated Financial Results for the Year Ended March 31, 2024 [IFRS] | ||
May 9, 2024 | ||
[Full version of English translation released on May 24, 2024] | ||
Listed Company Name: Sumitomo Metal Mining Co., Ltd. | ||
Code: | 5713 | |
Listings: | Tokyo Stock Exchange | |
URL: | https://www.smm.co.jp/ | |
Representative: | Akira Nozaki, President and Representative Director | |
Contact: | Atsuyuki Inoue, Manager, PR & IR Dept. | TEL: +81-3-3436-7705 |
Scheduled Ordinary General Meeting of Shareholders: June 26, 2024
Scheduled Date to Start Dividend Payment: June 27, 2024
Scheduled Date to Submit Securities Report: June 26, 2024
Preparation of Supplementary Explanation Materials for Financial Results: Yes
Briefing on Account Settlement: Yes (for institutional investors and analysts)
(Amounts less than one million yen are rounded off)
1. Consolidated Financial Results (From April 1, 2023, to March 31, 2024)
- Consolidated Operating Results
(% figures show year-on-year change)
Net sales | Profit before tax | Profit | Profit attributable to | Total comprehensive | ||||||||||||
owners of parent | income | |||||||||||||||
Millions of | % | Millions of | % | Millions of | % | Millions of | % | Millions of | % | |||||||
yen | yen | yen | yen | yen | ||||||||||||
Year ended | 1,445,388 | 1.6 | 95,795 | -58.3 | 60,803 | -64.3 | 58,601 | -63.5 | 206,651 | -28.0 | ||||||
March 31, 2024 | ||||||||||||||||
Year ended | 1,422,989 | 13.0 | 229,910 | -35.7 | 170,441 | -42.9 | 160,585 | -42.9 | 287,148 | -30.9 | ||||||
March 31, 2023 | ||||||||||||||||
Basic earnings per | Diluted earnings per | Return on equity | Profit before tax to | |||||||||||||
share | share | total assets | ||||||||||||||
Yen | Yen | % | % | |||||||||||||
Year ended | 213.28 | 213.28 | 3.4 | 3.3 | ||||||||||||
March 31, 2024 | ||||||||||||||||
Year ended | 584.44 | 584.44 | 10.4 | 9.2 | ||||||||||||
March 31, 2023 | ||||||||||||||||
(Reference) Equity in earnings (loss) of affiliates Year ended March 31, 2024: ¥33,117 million; Year ended March 31, 2023: ¥36,536 million
- Consolidated Financial Position
Equity attributable | Equity attributable | Equity attributable | |||
Total assets | Total equity | to owners of parent | to owners of parent | ||
to owners of parent | |||||
ratio | per share | ||||
Millions of yen | Millions of yen | Millions of yen | % | Yen | |
As of March 31, | 3,023,844 | 1,970,696 | 1,782,420 | 58.9 | 6,487.19 |
2024 | |||||
As of March 31, | 2,707,899 | 1,789,296 | 1,631,671 | 60.3 | 5,938.42 |
2023 | |||||
- Consolidated Cash Flows
Net cash provided by | Net cash used in | Net cash provided by | Cash and cash equivalents | |
operating activities | investing activities | financing activities | at end of period | |
Millions of yen | Millions of yen | Millions of yen | Millions of yen | |
Year ended | 210,675 | (298,887) | 7,090 | 151,022 |
March 31, 2024 | ||||
Year ended | 120,382 | (185,503) | 49,336 | 215,007 |
March 31, 2023 | ||||
2. Dividends
Dividend per share | Dividend | |||||||
payout ratio to | ||||||||
Total | ||||||||
Dividend | equity | |||||||
dividend | ||||||||
First | Second | Third | payout ratio | attributable to | ||||
Year-end | Total | amount | ||||||
(Consolidated) | owners of | |||||||
quarter-end | quarter-end | quarter-end | (Annual) | |||||
parent | ||||||||
(Consolidated) | ||||||||
Yen | Yen | Yen | Yen | Yen | Millions of yen | % | % | |
Year ended | - | 90.00 | - | 115.00 | 205.00 | 56,327 | 35.1 | 3.7 |
March 31, 2023 | ||||||||
Year ended | - | 35.00 | - | 63.00 | 98.00 | 26,927 | 45.9 | 1.6 |
March 31, 2024 | ||||||||
Year ending | ||||||||
March 31, 2025 | - | 49.00 | - | 50.00 | 99.00 | 48.6 | ||
(Forecast) |
3. Forecast of Consolidated Operating Results for the Year Ending March 31, 2025 (From April 1, 2024, to March 31, 2025)
(% figures show year-on-year change)
Net sales | Profit before tax | Profit | Profit attributable to | Basic earnings | ||||||
owners of parent | per share | |||||||||
Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | Yen | ||
Full year | 1,492,000 | 3.2 | 91,000 | -5.0 | 62,000 | 2.0 | 56,000 | -4.4 | 203.81 | |
Notes
- Change in Important Subsidiaries during the Period under Review (Change in specific subsidiaries that will accompany a change in scope of consolidation): None
- Changes in Accounting Policies or Estimates
1) | Changes in accounting policies required by IFRS: | None |
2) | Changes in accounting policies other than item 1) above: | None |
3) | Changes in accounting estimates: | None |
- Number of Outstanding Shares (Common stock)
-
Number of shares issued as of end of period (including treasury stock) 290,814,015 shares at March 31, 2024
290,814,015 shares at March 31, 2023 - Number of shares of treasury stock as of end of period
-
Number of shares issued as of end of period (including treasury stock) 290,814,015 shares at March 31, 2024
16,054,245 shares at March 31, 2024
16,049,021 shares at March 31, 2023
- Average number of shares during the period 274,762,204 shares for the year ended March 31, 2024 274,767,003 shares for the year ended March 31, 2023
(Reference) Summary of Non-Consolidated Financial Results (J-GAAP)Non-Consolidated Financial Results (From April 1, 2023, to March 31, 2024)
(1) Non-Consolidated Operating Results
(% figures show year-on-year change)
Net sales | Operating profit | Ordinary profit | Profit | ||||||||||
Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | ||||||
Year ended | 1,279,284 | 3.1 | 85,670 | -25.8 | 105,272 | -36.6 | 81,583 | -32.7 | |||||
March 31, 2024 | |||||||||||||
Year ended | 1,241,086 | 14.7 | 115,408 | -3.0 | 166,054 | -16.1 | 121,149 | -47.8 | |||||
March 31, 2023 | |||||||||||||
Profit | Profit | ||||||||||||
per share (Basic) | per share (Diluted) | ||||||||||||
Yen | Yen | ||||||||||||
Year ended | 296.92 | 296.92 | |||||||||||
March 31, 2024 | |||||||||||||
Year ended | 440.92 | 440.92 | |||||||||||
March 31, 2023 | |||||||||||||
(2) Non-Consolidated Financial Position | |||||||||||||
Total assets | Net assets | Equity ratio | Net assets per share | ||||||||||
Millions of yen | Millions of yen | % | Yen | ||||||||||
As of March 31, 2024 | 2,076,393 | 1,131,461 | 54.5 | 4,118.00 | |||||||||
As of March 31, 2023 | 1,826,337 | 1,044,948 | 57.2 | 3,803.06 | |||||||||
(Reference) Shareholders' equity
As of March 31, 2024: ¥1,131,461 million;
As of March 31, 2023: ¥1,044,948 million
non-consolidated financial results for the year ended March 31, 2024 and the actual results for the previous year>
Ordinary profit decreased year over year due mainly to the decline in nickel prices, as well as the decrease in temporary positive factors during the year ended March 31, 2024, such as foreign exchange gain resulting from the rapid depreciation of the yen in the previous year.
Profit also decreased year over year for the same reasons as for ordinary profit mentioned above.
The consolidated financial results presented herein are not subject to audits by certified public accountants or audit corporations.
Explanation regarding appropriate use of operating results forecast and other special notes(Caution Regarding Forward-Looking Statements)
The forward-looking statements, including business results forecast, contained in this report are based on information available to the Company and on certain assumptions deemed to be reasonable as of the date of release of this report and they are not meant to be a commitment by the Company. Also, actual business results may differ substantially due to a number of factors.
(Supplementary Explanation Materials for Financial Results)
The Supplementary Explanation Materials will be posted on the Company's website on Thursday, May 9, 2024.
Contents of the Attachment | ||
1. Overview of Business Performance, etc | 2 | |
(1) | Overview of Business Performance in Fiscal 2023 | 2 |
(2) | Overview of Financial Position in Fiscal 2023 | 4 |
(3) | Future Outlook | 5 |
2. Basic Concept Behind the Selection of Accounting Standards | 6 | |
3. Consolidated Financial Statements and Primary Notes | 7 | |
(1) | Consolidated Statement of Financial Position | 7 |
(2) | Consolidated Statement of Profit or Loss and Consolidated Statement of Comprehensive Income | 9 |
(Consolidated Statement of Profit or Loss) | 9 | |
(Consolidated Statement of Comprehensive Income) | 10 | |
(3) | Consolidated Statement of Changes in Equity | 11 |
(4) | Consolidated Statement of Cash Flows | 13 |
(5) | Notes Relating to the Consolidated Financial Statements | 15 |
(Note Relating to the Going Concern Assumption) | 15 | |
(Changes in Accounting Policies) | 15 | |
(Changes in Presentation Method) | 15 | |
(Operating Segments) | 16 | |
(Per Share Information) | 18 | |
(Significant Subsequent Event) | 18 | |
4. Others | 19 |
1
1. Overview of Business Performance, etc.
(1) Overview of Business Performance in Fiscal 2023
1) General overview | (Millions of yen) | ||||||||
Net sales | Profit before tax | Profit attributable to | |||||||
owners of parent | |||||||||
Year ended March 31, 2024 | 1,445,388 | 95,795 | 58,601 | ||||||
Year ended March 31, 2023 | 1,422,989 | 229,910 | 160,585 | ||||||
Increase/decrease | 22,399 | -134,115 | -101,984 | ||||||
[Rate of change: %] | [1.6] | [-58.3] | [-63.5] | ||||||
(Overseas market prices and foreign exchange rates) | |||||||||
Unit | Year ended March | Year ended March | Increase/decrease | ||||||
31, 2023 | 31, 2024 | ||||||||
Copper | $/t | 8,551 | 8,362 | -189 | |||||
Gold | $/TOZ | 1,804.8 | 1,989.0 | 184.2 | |||||
Nickel | $/lb | 11.63 | 8.68 | -2.95 | |||||
Exchange rate (TTM) | ¥/$ | 135.48 | 144.63 | 9.15 |
The global economy during the fiscal year ended March 31, 2024 saw a gradual slowdown in growth. In the United States, despite the effects of prolonged monetary tightening, the economy remained resilient with a strong employment environment, and the inflation rate remained high. In Europe, on the other hand, due mainly to high prices owing to Russia's invasion of Ukraine and the prolonged monetary tightening as a countermeasure, domestic demand was weakened. Although China once experienced an economic recovery from the end of the previous fiscal year to the beginning of the fiscal year due partly to the rebound from its zero-COVID policy, a prolonged downturn in the real estate market and a slump in personal consumption stemming from a weak employment of younger workers put downward pressure on economic growth.
As for exchange rates, the rapid depreciation of the yen progressed from the beginning of the fiscal year. Although there was a trend for the yen to temporarily appreciate, the average exchange rate for the yen declined significantly year over year.
Regarding the prices of major non-ferrous metals, copper prices declined until the middle of the fiscal year due mainly to concerns over declining demand caused by slowing growth of the Chinese economy and economies of other countries, as well as the continued appreciation of the US dollar, and then rose moderately. However, average prices fell slightly year over year. Nickel prices were in a declining trend throughout the fiscal year due to factors including a slowdown in global economic growth, an increase in supply, and the appreciation of the US dollar, and average prices fell year over year. Gold prices, on the other hand, increased for the second half of the previous fiscal year due mainly to financial uncertainties, and then prices declined due to reasons such as successive interest rate hikes in the United States for the fiscal year. However, the rise of geopolitical tensions in the Middle East and the expectation for a cut in interest rates led to a price increase, which resulted in an increase in average prices year over year.
In industries related to the Materials business, although there were signs of slowdown in the growing electric vehicle market, demand for automobile battery materials manufactured by the Company remained strong. On the other hand, regarding components for electronic parts, some markets, including the automobile market, saw a recovery due to the end of semiconductor shortages; however, the sluggish economic recovery in China and stagnant shipments of smartphones and computers have led to generally depressed demand, preventing a full-scale recovery in demand.
Under these circumstances, consolidated net sales in the fiscal year ended March 31, 2024 increased by ¥22,399 million year over year to ¥1,445,388 million, due mainly to increased sales of automobile battery materials.
Consolidated profit before tax decreased by ¥134,115 million year over year to ¥95,795 million, due mainly to a decline in copper and nickel prices and a decrease in temporary positive factors such as foreign exchange gain resulting from the rapid depreciation of the yen in the previous fiscal year.
Profit attributable to owners of parent decreased by ¥101,984 million year over year to ¥58,601 million, due mainly to a decrease in consolidated profit before tax.
2
2) Reportable segments | ||||||
(a) Mineral Resources segment | (Millions of yen) | |||||
Year ended March | Year ended March | Increase/decrease | Rate of change (%) | |||
31, 2023 | 31, 2024 | |||||
Net sales | 172,427 | 166,006 | -6,421 | -3.7 | ||
Segment income | 76,443 | 52,845 | -23,598 | -30.9 | ||
Segment income decreased year over year due to the decrease in copper prices and the increase in production costs stemming mainly from global inflation.
The statuses of the main mines are as follows.
Mining operations at the Hishikari Mine remained steady, and the sales volume of gold was 4.0 tonnes as planned.
Production levels at the Morenci Copper Mine (United States) (of which the Company holds a 25.0% interest, excluding non-controlling interest) was 362 thousand tonnes, lower than the previous fiscal year due mainly to a decline in mining volume.
Production levels at the Cerro Verde Copper Mine (Peru) (of which the Company holds a 16.8% interest, excluding non-controlling interest) rose from the previous fiscal year to 447 thousand tonnes, due mainly to an increase in the amount handled and an increase in ore grade.
(b) Smelting & Refining segment | (Millions of yen) | ||||||||
Year ended March | Year ended March | Increase/decrease | Rate of change (%) | ||||||
31, 2023 | 31, 2024 | ||||||||
Net sales | 1,073,038 | 1,067,863 | -5,175 | -0.5 | |||||
Segment income | 117,866 | 62,199 | -55,667 | -47.2 | |||||
(Output by the Company's major product) | |||||||||
Product | Unit | Year ended March | Year ended March | Increase/decrease | |||||
31, 2023 | 31, 2024 | ||||||||
Copper | t | 447,163 | 374,504 | -72,659 | |||||
Gold | kg | 17,869 | 18,026 | 157 | |||||
Electrolytic nickel | t | 52,817 | 59,313 | 6,496 | |||||
Ferronickel | t | 10,143 | 4,793 | -5,350 |
(Note) Output includes the portions of commissioning and/or commissioned production.
Segment income decreased year over year, due mainly to the decline in nickel prices and the decrease in temporary positive factors such as foreign exchange gain resulting from the rapid depreciation of the yen in the previous fiscal year.
Although the production level and sales volume of electrolytic nickel increased from the previous fiscal year, the production level of electrolytic copper decreased from the previous fiscal year due to the scheduled renovations (large-scale scheduled shutdown) at Toyo Smelter & Refinery, while sales volume also decreased year over year. The production level of ferronickel also decreased year over year due to the production adjustment.
The production levels both at Coral Bay Nickel Corporation (Philippines) and at Taganito HPAL Nickel Corporation (Philippines) generally remained on par with the previous fiscal year.
(c) Materials segment | (Millions of yen) | |||||
Year ended March | Year ended March | Increase/decrease | Rate of change (%) | |||
31, 2023 | 31, 2024 | |||||
Net sales | 317,425 | 335,791 | 18,366 | 5.8 | ||
Segment income | 17,323 | (7,203) | -24,526 | ― | ||
(loss) | ||||||
Segment income decreased, impacted by falling prices of non-ferrous metals and other factors, despite higher sales of automobile battery materials. This was also due mainly to sluggish demand for components for electronic parts stemming mainly from stagnant shipments of smartphones and computers, as well as accounting treatment related to an execution of a share transfer contract of a subsidiary, Sumitomo Metal Mining Siporex Co., Ltd. As a result, segment income decreased to a year-on-year loss.
3
(2) Overview of Financial Position in Fiscal 2023 | |||||
Consolidated Statement of Financial Position | (Millions of yen) | ||||
As of March 31, 2023 | As of March 31, 2024 | Increase/decrease | |||
Total assets | 2,707,899 | 3,023,844 | 315,945 | ||
Total liabilities | 918,603 | 1,053,148 | 134,545 | ||
Total equity | 1,789,296 | 1,970,696 | 181,400 |
Total assets as of March 31, 2024 increased from those as of March 31, 2023. Although cash and cash equivalents and inventories decreased, property, plant and equipment, investments accounted for using equity method, and other financial assets under non-current assets, mainly investment securities and long- term loans receivable, increased.
Total liabilities increased from those as of March 31, 2023. This was mainly because although bonds and borrowings under current liabilities and income taxes payable, etc., decreased, trade and other payables, bonds and borrowings under non-current liabilities, and deferred tax liabilities increased, respectively.
Total equity increased from that as of March 31, 2023. Under other components of equity, the exchange differences on transition of foreign operations increased due to the depreciation of the yen, and financial assets measured at fair value through other comprehensive income increased due to an increase in the price of stock holdings.
Consolidated Statement of Cash Flows | (Millions of yen) | |||
Year ended March 31, | Year ended March 31, | Increase/decrease | ||
2023 | 2024 | |||
Net cash provided by operating | 120,382 | 210,675 | 90,293 | |
activities | ||||
Net cash used in investing | (185,503) | (298,887) | -113,384 | |
activities | ||||
Net cash provided by financing | 49,336 | 7,090 | -42,246 | |
activities | ||||
Effect of exchange rate changes | 16,815 | 17,137 | 322 | |
on cash and cash equivalents | ||||
Cash and cash equivalents at | 213,977 | 215,007 | 1,030 | |
beginning of period | ||||
Cash and cash equivalents at end | 215,007 | 151,022 | -63,985 | |
of period | ||||
Net cash provided by operating activities during the fiscal year ended March 31, 2024 increased from the previous fiscal year, due mainly to a decrease in inventories, despite a decrease in profit before tax and a smaller increase in trade and other payables.
Net cash used in investing activities increased from the previous fiscal year. This was mainly because although purchase of property, plant and equipment was on par with the previous fiscal year, proceeds from withdrawal of time deposits decreased and payments for long-term loans receivable and purchase of shares of subsidiaries and associates increased.
Net cash provided by financing activities decreased from the previous fiscal year, due mainly to increases in repayments of short-term borrowings and long-term borrowings, despite decreases in dividends paid and redemption of bonds as well as increases in proceeds from long-term borrowings and issuance of bonds.
4
Cash flow indicators
Mar. 31, | Mar. 31, | Mar. 31, | Mar. 31, | Mar. 31, | |
2020 | 2021 | 2022 | 2023 | 2024 | |
Equity attributable to | 58.3 | 59.1 | 63.7 | 60.3 | 58.9 |
owners of parent ratio (%) | |||||
Equity attributable to | |||||
owners of parent ratio based | 35.4 | 69.6 | 74.6 | 51.2 | 41.7 |
on market capitalization (%) | |||||
Cash flows/Interest-bearing | 2.7 | 3.7 | 2.0 | 3.9 | 2.6 |
debt ratio (times) | |||||
Interest coverage ratio | 20.5 | 23.9 | 65.9 | 20.3 | 11.3 |
(times) | |||||
Notes:
-
Equity attributable to owners of parent ratio: Equity attributable to owners of parent / Total assets
Equity attributable to owners of parent ratio based on market capitalization: Market capitalization / Total assets
Cash flows/Interest-bearing debt ratio: Interest-bearing debt / Cash flows
Interest coverage ratio: Cash flows / Interest payment - All of the above indicators are calculated for their respective values on a consolidated basis.
- Market capitalization is calculated based on the number of shares issued at the end of the fiscal year after deducting treasury shares.
-
Cash flows employs "Net cash provided by (used in) operating activities" in the Consolidated
Statement of Cash Flows. - Interest-bearingdebt indicates the liabilities for which interest is paid on all the liabilities posted in the Consolidated Statement of Financial Position. Interest payment corresponds to the amount of "Interest paid" in the Consolidated Statement of Cash Flows.
-
Equity attributable to owners of parent ratio: Equity attributable to owners of parent / Total assets
- Future Outlook
1) General overview | (Millions of yen) | |||||||||||||
Profit | ||||||||||||||
Net sales | Profit before tax | Profit | attributable to | |||||||||||
owners of | ||||||||||||||
parent | ||||||||||||||
Year ending March 31, 2025 (Forecast) | 1,492,000 | 91,000 | 62,000 | 56,000 | ||||||||||
Year ended March 31, 2024 (Results) | 1,445,388 | 95,795 | 60,803 | 58,601 | ||||||||||
Increase/decrease | 46,612 | -4,795 | 1,197 | -2,601 | ||||||||||
[Rate of change: %] | [3.2] | [-5.0] | [2.0] | [-4.4] | ||||||||||
(Overseas market prices and foreign exchange rates) | ||||||||||||||
Year ended March 31, | Year ending March 31, | |||||||||||||
Unit | 2024 | 2025 | Increase/decrease | |||||||||||
Results | Forecast | |||||||||||||
Copper | $/t | 8,362 | 9,000 | 638 | ||||||||||
Gold | $/TOZ | 1,989.0 | 2,000.0 | 11.0 | ||||||||||
Nickel | $/lb | 8.68 | 8.00 | -0.68 | ||||||||||
Exchange rate | ¥/$ | 144.63 | 150.00 | 5.37 | ||||||||||
(TTM) | ||||||||||||||
The global economy is facing continued uncertainty due to downside factors such as the sluggish economy in China caused by a prolonged real estate recession, and the continuing high inflation rate, as well as higher geopolitical and global economic fragmentation risks.
As for the supply and demand of copper, temporary supply shortages are expected because of the cessation of operation and production adjustments at some copper mines overseas. As for the supply and demand of nickel, on the other hand, we estimate the continued oversupply because of increased production in China and Indonesia. However, as for the supply and demand of non-ferrous metals, demand is expected to increase in the medium to long term, mainly for electronic vehicles and renewable energy.
As for industries related to the Materials business, although demand is expected to continue to grow due to support for the shift toward decarbonization and digital transformation (DX), the situation remains unpredictable due to a risk of slowdown in market growth because of the uncertain outlook for the global economy, mainly in China, and other factors.
5
With regard to the forecast for consolidated operating results for the fiscal year ending March 31, 2025, our estimate for major non-ferrous metals prices was set by considering the current level and predicting the future supply-demand balance. The prices are $9,000 per tonne for copper ($8,362 per tonne for the fiscal year ended March 31, 2024) and $8.00 per pound for nickel ($8.68 per pound for the fiscal year ended March 31, 2024) respectively. The exchange rate was set based on the current trend of yen depreciation for the fiscal year and the monetary policies both in the United States and Japan at the time of forecasting, which is forecast to be ¥150.00 against the dollar (¥144.63 against the dollar for the fiscal year ended March 31, 2024). Our forecast for production levels and sales volumes of major products was planned based on current results and other factors. As a result, net sales are expected to reach ¥1,492.0 billion, profit before tax of ¥91.0 billion, profit of ¥62.0 billion, and profit attributable to owners of parent of ¥56.0 billion on a consolidated basis.
As for segment income, please refer to "2) Reportable segments" below.
2) Reportable segments | (Millions of yen) | |||||||
Amount | ||||||||
Mineral | Smelting & | Other | recorded on | |||||
Materials | Total | Adjustments | Consolidated | |||||
Resources | Refining | Businesses | ||||||
Financial | ||||||||
Statements | ||||||||
Net sales | 199,000 | 1,106,000 | 312,000 | 1,617,000 | 11,000 | (136,000) | 1,492,000 | |
Segment | 84,000 | 18,000 | (4,000) | 98,000 | (3,000) | (4,000) | 91,000 | |
income | ||||||||
2. Basic Concept Behind the Selection of Accounting Standards
The Company has voluntarily applied IFRS from the first quarter of the fiscal year ended March 31, 2019 as part of its efforts to enhance management foundations and respond to globalization.
6
3. Consolidated Financial Statements and Primary Notes
(1) Consolidated Statement of Financial Position
FY2022 | FY2023 | ||
(As of March 31, 2023) | (As of March 31, 2024) | ||
Millions of yen | Millions of yen | ||
Assets | |||
Current assets | |||
Cash and cash equivalents | 215,007 | 151,022 | |
Trade and other receivables | 189,199 | 185,238 | |
Other financial assets | 6,273 | 9,054 | |
Inventories | 555,941 | 516,014 | |
Other current assets | 56,423 | 43,611 | |
Subtotal | 1,022,843 | 904,939 | |
Assets held for sale | ― | 19,482 | |
Total current assets | 1,022,843 | 924,421 | |
Non-current assets | |||
Property, plant and equipment | 629,451 | 759,484 | |
Intangible assets and goodwill | 68,217 | 72,468 | |
Investment property | 3,477 | 3,477 | |
Investments accounted for using equity method | 450,512 | 499,097 | |
Other financial assets | 497,496 | 718,380 | |
Deferred tax assets | 1,822 | 1,828 | |
Other non-current assets | 34,081 | 44,689 | |
Total non-current assets | 1,685,056 | 2,099,423 | |
Total assets | 2,707,899 | 3,023,844 | |
7
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Sumitomo Metal Mining Co. Ltd. published this content on 24 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 May 2024 08:25:04 UTC.