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Metmar Results Presentation

Metmar Results Presentation. Welcome to the results presentation of the Metmar Limited financial y ear e nd results for the period ended on 28 February 2014 05 / 06 May 2014. Programme of events. Snapshot of the results Metmar Trading Metmar Investments & Resources Looking forward

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Metmar Results Presentation

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  1. Metmar Results Presentation Welcome to the results presentation of the Metmar Limited financialyear end results for the period ended on 28 February 2014 05 / 06 May 2014

  2. Programme of events • Snapshot of the results • Metmar Trading • Metmar Investments & Resources • Looking forward • Questions to the panel • Further conversation

  3. Snapshot of the results David Ellwood CEO of Metmar Limited Sizwe Nkosi CFO of Metmar Limited

  4. Company Highlights

  5. Financial Highlights STRATEGIC REFOCUS ON CORE TRADING STARTING TO BEAR FRUIT

  6. Metmar Trading David Ellwood Metmar Trading

  7. Metmar Trading performance

  8. Core Trading revenue increased to R2.1 billion (2013: R1.50 billion) • EBITDA increased significantly to R82.0 million (2013: R1.3 million) • Profit after tax of R50.3 million (2013: loss after tax of R28.9 million) Metmar Trading - Core Trading CORE TRADING RETURNS TO PROFIT driven by product diversification, focused trading strategy and better cost control

  9. WAG operating profit of R3.7 million (four months trading) • Capital profit on sale of WAG was R19.2 million • Goodwill and intangibles of R36.9 million and R10.2 million respectively • Loss after tax of R22.0 million (2013: profit after tax of R17.9 million) Metmar Trading - Discontinued Operations WAG SOLD IN MANAGEMENT BUYOUT generating R53.7 million in cash

  10. Delays in sinter plant commissioning now largely overcome • Production of almost 90,000 tonnes in March 2014 alone • Loss after tax of R15.5 million (2013: N/A) owing to high finance costs associated with delayed start up Metmar Trading - Kalagadi Tolling Project FIRST BULK SHIPMENT OF 44,000 TONNES SOLD and vessel sailed from Saldanha in early April

  11. Metmar Investments & Resources (“MIR”) Michael Golding COO of Metmar Investments & Resources

  12. MIR performance

  13. MIR revenue increased significantly to R234.0 million (2013: R43.5 million) due to sales of coke breeze, alumina slag, recycled plastic products and carbon products • Impairment of investments and non-current assets held for sale amounted to R145.5 million (2013: R36.6 million) • Loss after tax of R140.2 million (2013: R94.1 million) MIR performance AGGRESSIVE WRITE DOWN OF INVESTMENT PORTFOLIO following completion of portfolio review

  14. Breakdown of MIR revenue by contribution: • Carbon products (including coke) – 63% • Alumina slag – 19% • Recycled plastic products – 18% • Breakdown of MIR impairments: • Impairments as per Income Statement – R145.5 million • Less: Inventory impairment – R18.1 million • Impairments relating to investments – R127.4 million MIR performance

  15. Looking forward David Ellwood CEO of Metmar Limited

  16. Improve working capital management (new treasury system) and expand trade and other finance facilities • Changed incentive arrangements to foster greater employee drive towards profitability CEO outlook

  17. Questions to the panel David Ellwood CEO Metmar Limited and Metmar Trading Michael Golding COO Metmar Investments & Resources Sizwe Nkosi CFO Metmar Limited Sean Naylor IRO Metmar Limited

  18. Thank you

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