Slide 1: 2022 Financial Year Results Presentation
Ramelius Resources Limited Mark Zeptner Tim Manners Managing Director Chief Financial Officer ASX:RMS 2022 Financial Year Results Presentation 1 August 2022 FY22 RESULTS PRESENTATION • AUGUST 2022
Slide 2: Qualification
QUALIFICATION Forward Looking Statements This presentation contains certain forward looking statements with respect to Ramelius Resources Ltd’s (Ramelius) financial condition, results of operations, production targets and other matters that are subject to various risks and uncertainties. Actual resu
Slide 3: Production Flexibility from Multiple Assets
PRODUCTION FLEXIBILITY FROM MULTIPLE ASSETS # Mid-point of FY23 Production Guidance, see ASX Release “June 2022 Quarterly Activities Report”. 28 July 2022 FY22 RESULTS PRESENTATION • AUGUST 2022 3
Slide 4: FY22 Mining Highlights
FY22 MINING HIGHLIGHTS 4,541kt RECORD ore mined ↑ 15% on 2021 312koz RECORD contained gold mined ↑ 18% on 2021 2.14g/t mined grade ↑ 3% on 2021 FY22 RESULTS PRESENTATION • AUGUST 2022 4
Slide 5: FY22 Production Highlights
FY22 PRODUCTION HIGHLIGHTS 258,625 oz prod. ↑ 5% on 2021 A$2,399/oz sold ↑ 5% on 2021 A$1,523/oz AISC ↑ 16% on 2021 FY22 RESULTS PRESENTATION • AUGUST 2022 5
Slide 6: FY22 Underlying Financial Results
FY22 UNDERLYING FINANCIAL RESULTS $603.9M $36.2M Revenue Underlying cash flow1 ↑ ↑ 5% on 2021 76% on 2021 $292.8M $172.9M Underlying EBITDA2 Cash & gold on hand ↑ ↑ 13% on 2021 26% on 2021 $73.0M 1.0 cps Underlying NPAT2 Final dividend ↑ 40% on 2021 ↑ 1.5cps on 2021 1 Underlying cash flow is cash fl
Slide 7: Revenue and Underlying Earnings – 5 Year Trend
REVENUE AND UNDERLYING^ EARNINGS – 5 YEAR TREND ➢ Sales revenue increased year-on-year by +15% from FY18 to FY22 ➢ Revenues down slightly from record year in FY21 on lower production & sales ➢ Underlying EBITDA margin remains strong at 49% (FY21: 53%) ➢ EPS down on lower earnings as well as the impa
Slide 8: Underlying Earnings Reconciliation
UNDERLYING EARNINGS RECONCILIATION ➢ Statutory results include the following one-off items: ▪ Non-cash Edna May CGU impairment charges ▪ Non-cash Exploration impairment charges ▪ Non-cash fair value adjustments on deferred consideration ▪ Kathleen Valley Royalty sale ▪ Tax impact of the above FY22 R
Slide 9: Asset Impairment & Other One-Off Items
ASSET IMPAIRMENT & OTHER ONE-OFF ITEMS Edna May CGU - $94.5 million (non-cash) Feasibility Study Mine Plan ➢ Impairments are assessed on a cash generating unit (CGU) basis Parameter Unit (April 2020) (August 2022) Variance Variance % Mining ➢ RMS has two operating CGUs: Mt Magnet (inc. Vivien & Penn
Slide 10: Cash Flow
CASH FLOW ➢ Underlying cash flow of $36.2M ➢ Cash flow variance versus prior years due to: ▪ Significant investment in gold inventories made during year of $68.3M (see next slide) ▪ Net Apollo & KV Royalty outflow of $40.5M ▪ Tax payments during the year for both FY21 and FY22 (FY21 catch-up payment
Slide 11: Operating Cash Flows – Investment in Gold Inventory
OPERATING CASH FLOWS* – INVESTMENT IN GOLD INVENTORY ➢ Operating cash flows are lower than FY21, with $68.3M cash investment in gold inventories ➢ 88% increase in gold inventory with 3.5Mt of ore stockpiled ready for processing * Operating cash flows equals “Cash flows provided by operating activiti
Slide 12: Strong Balance Sheet
STRONG BALANCE SHEET ➢ Balance sheet remains strong with excellent liquidity ➢ $172.9M in cash & bullion with ~125,000 ounces contained in stockpiles and GIC ➢ $100M debt facility in place and undrawn ➢ Working capital impacted by $66.1M of stockpiles classified as non-current ➢ Hedge book provides
Slide 13: Dividends - Resetting to Retain Sustainability
DIVIDENDS - RESETTING TO RETAIN SUSTAINABILITY Final Dividend ➢ Fully franked dividend at 1.0 cent ($8.7M) ➢ Record / Payment date: 16 Sept / 11 Oct 2022 ➢ Pay-out rate of 24% of underlying cash flow1 ➢ Returns $35/oz produced ➢ Yield of 1.15%2 Dividend Reinvestment Plan (DRP) ➢ Implementation of DR
Slide 14: Ramelius - Well Positioned for FY23 and Beyond
RAMELIUS - WELL POSITIONED FOR FY23 AND BEYOND Proven management team adept in either greenfields development or Operational Excellence refurbishment & operation of both open pit and underground mines Strong balance sheet, disciplined approach to capital management with a Balance Sheet & Use of Capi
Slide 15: Contact Details
CONTACT DETAILS Ramelius Resources Limited ASX Code: RMS Level 1, 130 Royal Street East Perth WA 6004 Authorised for release to the ASX by the Managing Director. For further information contact: Investor enquiries: Media enquiries: Mark Zeptner Tim Manners Luke Forrestal Managing Director Chief Fina
Slide 16: Appendix 1: FY22 Financial Summary
APPENDIX 1: FY22 FINANCIAL SUMMARY Financials Units FY 2022 FY 2021 Change Revenue A$’M 603.9 634.3 (5%) EBITDA A$’M 208.1 341.0 (39%) Underlying EBITDA1 A$’M 292.8 338.1 (13%) EBIT A$’M 25.1 177.4 (86%) Underlying EBIT1 A$’M 109.8 174.6 (37%) NPAT A$’M 12.4 126.8 (90%) Underlying NPAT1 A$’M 73.0 12