Om Holdings Ltd.ASX: OMH

Investor Presentation – FY2024 Financial Results

· Issued by Om Holdings Ltd.

1

OM HOLDINGS LIMITED

Australia • China • Japan • Malaysia • Singapore • South Africa

March 2025 • Investor Presentation • ASX:OMH | Bursa:OMH (5298)

3

FY2024 FINANCIAL HIGHLIGHTS

Revenue

Loan Repayment (1)

Cashflow from Operations

US$654.3m

US$66.1m

US$83.3m

FY2023 US$589.2m

FY2023 US$47.6m

FY2023 US$30.3m

Adj. EBITDA(2)

Profit att. to owners

Profit per share

US$76.0m

US$9.3m

1.22 cents

FY2023 US$94.9m

FY2023 US$18.2m

FY2023 2.45 cents

  1. Loan Repayment includes the repayment of project financing and trade financing.
  2. Adjusted EBITDA is defined as operating profit before depreciation and amortisation, net finance costs and income tax. Adjusted EBITDA is not a uniformly defined measure and other companies in similar industries may calculate this measure differently. Consequently, the Group's presentation of Adjusted EBITDA may not be readily comparable to other companies' disclosures.
Both silicon metal furnaces strategically switched to produce FeSi for optimal returns and maximize furnace utilization.
production levels surpassing 500,000 tonnes of alloys in both output
Average 15 out of 16 furnaces in operation in FY2024. Achieved record
Planned trial production progressing well, with a second trial planned in early Q1 2025 to achieve desire feed throughputs and grades following further optimization works.
Mine remains under care and maintenance with rehabilitation works progressed as planned, with a focus on repairing damaged landforms caused by higher-than-expectedrainfall.
$2,000 $1,000
$0
Exploration and Mining (Mn Ore)
$4,000
$5,000 USD/mt
CY2024 FeSi: $1,271/ mt (-11.5%YoY)
CY2024 SiMn : $977/ mt (+1.9% YoY)

MARKET REVIEW & FY25 PRODUCTION GUIDANCE

FeSi & SiMn Market Review

  • FeSi prices faces continued near term pressure, $3,000

adjusting in response to declining coke prices. YoY FeSi prices declined by 11.5%

• Normalization expected for both Mn ore and Mn alloys after brief spike catalyzed by manganese ore.

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Source: S&P Platts

FeSi Production Volume (kmt)

170-190

•

190

167

140

131

140

•

FY2020

FY2021

FY2022

FY2023

FY2024

FY2025F

Mn Alloy Production Volume(1) (kmt)

Smelting (FeSi and Mn Alloy)

270 - 300

•

318

238

294

and sales

264

217

• Preliminary FY25 production guidance of 440-490 ktpa.

FY2020

FY2021

FY2022

FY2023

FY2024 FY2025F

•

  1. FY2019 - FY2021 OMQ + OM Sarawak production volume. FY2022 onwards purely OM Sarawak production volume.

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RECORDED US$76.0M EBITDA IN FY2024

Revenue and GP Margin

FY2024 Revenue and Gross Profit Margin

(1)

$1,000

26.4%

30%

•

24.2%

Revenue US$ million

25%

16.1%

17.3%

20%

GP Margin

•

$500

12.3%

15%

10%

544

780

857

589

654

5%

$0

0%

FY2020

FY2021

FY2022

FY2023

FY2024

Revenue increased by 11%, primarily attributed to higher volumes of alloys traded in FY2024

This helped in cushioning the impact of declining alloy prices, which squeezed margins, particularly in 2H 2024

US$ million (1)

$200

Group Adjusted EBITDA (2)

$150

$100

US$94.9m

US$76.0m

$50

$0

FY2020

FY2021

FY2022

FY2023

FY2024

-$50

Mining Smelting Trading Associates D&A Others

Segment Breakdown

  • Lower contribution from smelting segment despite higher revenue due to margin compression in 2H 2024
  • Stable contribution from trading segment despite market volatility
  • Mining segment remained under care and maintenance since end Jan 2022
  1. FY2019-FY2020USD Revenue and Adjusted EBITDA converted using in-house rate for the respective years for illustration purposes. Figures are on an approximate basis.
  2. Adjusted EBITDA is defined as operating profit before depreciation and amortisation, net finance costs, and income tax. Adjusted EBITDA is not a uniformly defined measure and other companies in similar industries may calculate this measure differently. Consequently, the Group's presentation of Adjusted EBITDA may not be readily comparable to other companies' disclosures.

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POSITIVE CASH POSITION MAINTAINED

Continue to focus on paying down debt

• Repaid US$66.1 million comprising Sarawak

$400

0.89

Total Debt

1

Gearing Ratio

project finance loan and trade facilities

$300

0.67

0.63

0.64

• Capital structure on continuous review, balancing

(1)

0.52

million

$200

debt and organic growth with minimal

capex

spending in the near term

US$

$100

• Majority of borrowings associated to Sarawak

$0

Project Financing, ring-fenced at asset level

0

FY2020

FY2021

FY2022

FY2023

FY2024

Prudent Cash Management

$160

$140

Cash Flow Movements for FY2024

•

US$83.3 million net cash generated from operating

activities

•

Minimal cash flow from investing activities in line

US$ million

$120

$100

$80

$60

$40

(7.6)

83.3

(76.3)

with minimal capex spending in the near term

• Significant increase in cash outflow from financing

activities due to higher loan repayment and

interest paid (higher interest rate environment in

FY2024)

$20

$0

60.5

59.6

Dec-23

Operating Investing Financing

Dec-24

Cash Flow Activities

• Recorded cash and cash equivalent of US$59.6

million

(1) FY2018-FY2020 USD Debt converted using in-house rate for the respective years for illustration purposes. Figures are on an approximate basis.

COMPANY SNAPSHOT

Balancing debt reduction with sustainable dividends

Issued Shares

764.3 million shares

2.00

Share

Share Price

A$ 0.34 / RM0.98

1.50

Metrics

(as at 20th

52 weeks Low / High

A$ 0. 32 / A$ 0.60

1.00

Feb 2025)

US$ 166.4 million(1)

Market Capitalization

0.50

0.00

Debt

Total Borrowings

US$ 219.7 million

(FY2024)

Share Price Performance

ASX (AUD)

Bursa (MYR)

7

5.0

4.0

3.0

2.0

1.0

0.0

Cash

Cash & Cash Equivalent

US$ 59.6 million

(FY2024)

Enterprise Value

US$ 326.5 million

Adj. EBITDA(2)

US$ 76.0 million

Earnings

EPS

US 1.22 cents

& Key

EV : Adj. EBITDA

4.30x

Ratios

Price Earning Ratio

17.84x

Largest Shareholders (as at 20th February 2025)

Huang Gang

13.52%

Marc Chan, Amplewood Resources Ltd

13.08%

Low Ngee Tong

8.99%

Heng Siow Kwee

8.61%

  1. Figure converted using the FX assumption of AUD to USD: 0.6402 (2) Adjusted EBITDA is defined as operating profit before depreciation and amortisation, net finance costs and income tax. Adjusted EBITDA is not a uniformly defined measure and other companies in similar industries may calculate this measure differently. Consequently, the Group's presentation of Adjusted EBITDA may not be readily comparable to other companies' disclosures.

OM HOLDINGS LIMITED

AUSTRALIA • CHINA • JAPAN • MALAYSIA • SINGAPORE • SOUTH AFRICA

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