Philex Mining Corp. · PSE:PX
Philex Mining — FY2017 Earnings Presentation
18 slides from Philex Mining's earnings presentation, Feb 28, 2018
Slide 1: FY2017 Operating and Financial Highlights
FY2017 Operating and Financial Highlights 28 February 2018
Slide 2: 2017 Highlights
2017 Highlights • FY2017 CORE NET INCOME AT P1.686 BILLION (FY2016: P1.657 BILLION) • REPORTED NET INCOME AT P1.658 BILLION (FY2016: P1.567 BILLION) • CASH DIVIDEND OF P0.04/SHARE DECLARED, 2017 TOTAL CASH DIVIDEND AT P0.08/SHARE (FY2016: P0.07/SHARE) • PARENT COMPANY DEBT DOWN TO US$49 MILLION 2
Slide 3: Operating Highlights
Operating Highlights Inc FY2017 FY2016 (Dec) Tonnes Milled ('000) 8,673 9,359 (7%) Production Gold – ozs 84,638 103,304 (18%) • Tonnage affected by Copper - lbs ('000) 30,118 34,961 (14%) bouldery ore and other production-related issues Metal Recovery (%) Gold 80.5 82.4 (5%) Copper 82.2 82.1 0% Ore
Slide 4: Financial Highlights
Financial Highlights (in PHP million, FY2017 FY2016 Inc/(dec) unless indicated) • Revenue affected by low Gross Revenue 9,985 10,272 (3%) Smelting Charges 842 893 (6%) Cash Cost & Expenses 5,227 5,440 (4%) metal output, partially Depreciation, depletion & 1,551 1,460 6% offset by higher metal amorti
Slide 5: Revenue Breakdown
Revenue Breakdown Revenue Performance 12,000 1% 1% 10,000 (PhP million) FY2017 FY2016 Inc/(dec) 8,000 39% 45% Gold 5,432 6,209 (13%) Copper 4,475 3,976 13% 6,000 Silver 77 86 (10%) TOTAL 9,984 10,272 (3%) 4,000 60% 54% 2,000 0 2017 2016 Gold Copper Silver 5
Slide 6: Costs and Expenses
Costs and Expenses Inc (in PHP million) FY2017 FY2016 (Dec) Production cost • Power cost down due to Materials & Supplies 1,810 1,681 8% Power 1,234 1,468 -16% Labor 894 893 0% lower consumption Contracts Others 250 224 306 267 -18% -16% • Contracts lower due to Cash Production cost 4,412 4,614 -4%
Slide 7: Capital Expenditures
Capital Expenditures Capital Expenditure Performance Other mine exploration Silangan & Kalayaan Padcal & Head Office P2.6B (PhP million) P2.4B FY2017 FY2016 change Padcal & Head Office 1,679 1,589 6% Silangan & Kalayaan 561 860 -35% Other mine 194 183 6% exploration TOTAL 2,433 2,632 -8% 7
Slide 8: Financial Position
Financial Position ASSETS (in PHP million) As of As of Inc (Dec) Dec 31, 2017 Dec 31, 2016 Cash & cash equivalents 584 458 -55% Receivables & others 5,683 6,035 51% • Sustained investments Current assets Property, plant & equipment 6,267 6,721 6,493 6,736 31% -1% in Silangan and Padcal Deferred expl
Slide 9: Social Development Management Program
Social Development Management Program 135 117 2016 2017 9
Slide 10: Contributions vs Net Income
Contributions vs Net Income SDMP Taxes, fees, and Net other income charges P1.56B P1.66B 10
Slide 11: Responsible Mining
PAP ENERGY -P PHILEX MINING CORPORATION —— YEARS— ef RESPONSIBLE MINING
Slide 12: Financial Highlights – Profit and Loss
Financial Highlights – Profit and Loss % Inc (in PhP millions) FY2017 FY2016 (Dec) Gross revenue ₱ ₱ 3% Cost and expenses 158 171 -7% Loss from operations (54) (69) -22% Other income (charges) (3) 33 -110% Reported net loss ₱ ₱ 57% • 3% decrease in petroleum revenues due to: Higher oil price offse
Slide 13: Financial Highlights – Financial Position
Financial Highlights – Financial Position ASSETS (in P HP millions) As of Dec 3 1 , As of Dec 3 1 , % In c 2017 2016 (Dec) Cash & cash equivalents ₱ 0 ₱ -21.5% Receivables and other CA 76 96 -21.0% Current assets 526 669 -21.4% Deferred exploration costs & other NCA 6,703 6,663 0.6% To ta l a ssets
Slide 14: Operations Update
Operations Update 28 February 14 2018 14
Slide 15: Operations Update 1/3
Operations Update 1/3 SC 72 Recto Bank (Forum 70%) Under Force Majeure (FM) since 15 December 2014. Forum will have 20 months upon lifting of the FM to drill the two (2) commitment wells. SC 75 NW Palawan (PXP 50%) Under FM since 27 December 2015. Sub-Phase 2 will have a term of 18 months up
Slide 16: Operations Update 2/3
Operations Update 2/3 SC 40 North Cebu (Forum 66.67%) Completed the plugging and abandonment (P&A) of L95-1 well in Libertad Field. The approved work program for 2018 is a detailed land gravity survey in northern Cebu, which will start in April 2018. SC 14 Matinloc and Tara Blocks (Forum 12.406%
Slide 17: Operations Update 3/3
Operations Update 3/3 SC 6A Octon Block (PXP 5.56% / Forum 5.56%) Completed the Pre-Stack Depth Migration (PSDM) processing and quantitative interpretation (QI) of the 2013 3D seismic data. The work program for 1H 2018 includes 3D seismic interpretation, which will integrate the results of the Q
Slide 18: Thank you very much
Thank you very much End of presentation