Singapore Exchange Ltd. · SGX:S68
Singapore Exchange — Golden Energy and Resources — FY2020 Earnings Presentation
18 slides from Singapore Exchange's earnings presentation, Mar 3, 2021
Slide 1: GEAR – FY2020 Results Briefing
CONFIDENTIAL CLSA Indonesia DCM Corporate Access Day 2019 GEAR – FY2020 Results Briefing 3 MARCH 2021 Presented by: Stanmore Coal Operations Mark Zhou, Head of Investments Yogesh Makharia, Senior GM, Investments and Corporate Finance PRIVATE AND CONFIDENTIAL
Slide 2: Disclaimer
Disclaimer The information contained in this presentation is for information purposes only, and does not constitute or form part of any offer or invitation to sell or the solicitation of an offer or invitation to purchase or subscribe for, or any offer to underwrite or otherwise acquire any securiti
Slide 3: Agenda
Agenda 1. FY2020 Summary 2. Performance Highlights 3. Q&A Stanmore Coal CHPP 3
Slide 4: FY2020 Summary – Transforming while Performing
FY2020 Summary – Transforming while Performing Successful Diversification into Metallurgical Coal and Gold ♦ Solid progress on strategy and plan to reinvent the Group ♦ Strategic expansion of product portfolio and geographic expansion to Australia ♦ Broadened earnings streams to reduce dependence on
Slide 5: FY2020 Key Milestones
FY2020 Key Milestones Successfully diversified earnings and reduced dependence on energy coal JAN – MAR APR - MAY FEB - SEP ACQUIRED INCREASED FULLY DIVESTED SHAREHOLDING in Westgold Resources 50-50 JV with EMR Capital for profits to 75.33% from 31.35% 5
Slide 6: Expanded Geographical Presence
Expanded Geographical Presence Expanded product suite includes Metallurgical Coal and Gold in Australia * Metallurgical Coal Energy Coal Gold *GEAR’s effective interest in Stanmore Coal is 60% through its approximately 80% shareholding in its subsidiary Golden Investments which holds 75.33% in Stanm
Slide 7: GEAR Group Simplified Corporate Structure
GEAR Group Simplified Corporate Structure as on Mar 2021 SGX-listed 67.0% 79.7% 100.0% 20.3% 30.0% 3.0% Golden Investments Golden Investments Public (Australia) II Pte. Ltd. (Australia) Pte. Ltd. 75.3% 50.0% IDX-listed ASX-listed Metallurgical Coal Energy Coal Mining Energy Coal Trading Gold Mining
Slide 8: Performance Highlights
Performance Highlights GEMS Operations 8
Slide 9: GEAR Group FY2020 Performance at a Glance
GEAR Group FY2020 Performance at a Glance ENERGY COAL REVENUE PRODUCTION VOLUME US$1.2B 33.5Mt Record since listing in 2016 8.5% increase from FY2019 CASH COST EBITDA US$21.04/mt US$148m One of the lowest production cost 14% increase from FY2019 among all Indonesian peers ROBUST BALANCE SHEET PRUDEN
Slide 10: GEAR Group Performance Highlights
GEAR Group Performance Highlights Strong performance despite COVID-19 pandemic and weakest coal price environment GROUP and GEMS ♦ Continued growth in energy coal production and sales volume. Exceeded FY2020 production target of 31Mt with actual production of 33.5Mt ( 8.8% YoY) and sales volume of 3
Slide 11: GEAR Group Performance Highlights – Stanmore Coal
GEAR Group Performance Highlights STANMORE COAL ♦ Following completion of takeover bid in May 2020, Golden Investments (GEAR’s subsidiary) increased its holding in Stanmore from 31.35% to 75.33% ♦ Stanmore recorded a production of 1.1Mt for the period 1 Jul 2020 to 31 Dec 2020 (“period ended 31 Dec
Slide 12: Group Performance Highlights
Group Performance Highlights Group Revenue Growth Group EBITDA(2) Trend (US$’m) (US$’m) 1,400 (1) 200 1,162.7 1,200 1,115.8 1,048.5 184 160 1,000 157 763.8 148 800 120 130 600 80 400 40 200 - - 2017 2018 2019 2020 2017 2018 2019 2020 Group Cash Balance, Net Debt(4) and Leverage Ratio(5) (US$’m) 280
Slide 13: Group Performance Highlights
Group Performance Highlights Revenue breakdown by segment (2020) Energy Coal 91.5% Metallurgical Coal 8.4% Non-Coal 0.1% Revenue breakdown by geography Indonesia 32% Indonesia 37% 2019 China 39% 2020 China 30% Revenue: India 22% Revenue(1): India 20% US$1.1b South Korea 3% US$1.2b South Korea 2% Cam
Slide 14: GEMS Operational Performance
GEMS Operational Performance ICI 4 Price Trend(1) Production Volume Trend – Coal Mining (US$ / tonne) (million tonnes) 45 30.8 33.5 40.1 32.0 4Q 40 28.0 30.8 9.6 4Q 34.5 24.0 10.2 35 33.1 3Q 20.0 22.6 7.4 32.5 3Q 16.0 8.1 30 15.6 2Q 12.0 2Q 8.1 25.3 8.0 5.4 25 1Q 23.5 4.0 1Q 8.4 7.1 20 - 2017 2018 2
Slide 15: Stanmore Operational Performance
Stanmore Operational Performance Met Coal Price Trend(1) Production Volume Trend (US$ / tonne) (million tonnes) Platts HCC64 Platts SS 200 180 2.4 2.4 2.0 160 140 120 1.0 1.2 1.1 100 80.4 82.1 1.1 74.6 78.5 80 65.5 59.6 60 40 - 30 Jun 2017 30 Jun 2018 30 Jun 2019 30 Jun 2020 Jul-Dec 2020 Average Sel
Slide 16: Ravenswood Operational Performance
Ravenswood Operational Performance Gold Price Trend Unit April to Dec 2020 (US$ / oz) Production volume Koz 47.6 Head grade g/t 0.56 2,100 1,860.32 Gold price realised A$/oz 2,622 1,600 All-in-Sustaining Cost (AISC)(1) A$/oz 2,222 1,100 600 Operating profit A$m 16.3m 100 Net loss after tax(2) A$m (1
Slide 17: Q&A
Q&A Q&A Ravenswood Operations 17 17
Slide 18: Thank you
“It is neither the strongest, nor the most intelligent that survive, but the most RESPONSIVE to change.” Ravenswood Gold Processing Facility Thank you
Golden Energy and Resources — FY2020 Earnings Presentation on 6ix