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MMG Limited: Annual Results For The Year Ended 31 December 2019.pdf

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Preview of MMG Limited: Annual Results for the Year Ended 31 December 2019
🔗 Source: mmg.com
📊 Size: 1.58 MB
👤 Author: Tuyen Tran
⬇️ Downloads: 76

Summary

- Key Highlights:
- Total recordable injury frequency (TRIF) of 1.58 per million hours worked.
- Net cash flow from operating activities: US$1,145.1 million.
- Underlying net loss after tax: US$125.4 million; impacted by lower commodity prices, community disruptions at Las Bambas, and operational challenges.

- Financial Performance:
- Revenue: US$3,032.3 million (-17% y/y).
- EBITDA: US$1,461.5 million (-17% y/y).
- EBIT (underlying): US$491.9 million (-41% y/y).
- Loss for the year after tax: US$195.3 million (-243% y/y).

- Production and Operations:
- Total copper and zinc production: 451,963 & 253,520 tonnes, respectively.
- Las Bambas produced 382,518 tonnes of copper in concentrate, impacted by community road blocks and lower prices (EBITDA: US$1,237.1 million, -8% y/y).
- Dugald River achieved strong performance with 170,057 tonnes of zinc in concentrate (EBITDA: US$108.7 million, +27% y/y).
- Kinsevere EBITDA: US$44.8 million (-78% y/y) due to lower ore grades and operational challenges.

- Future Outlook:
- 2020 production guidance: 418,000-445,000 tonnes of copper and 225,000-245,000 tonnes of zinc.
- Las Bambas expects to produce ~4 million tonnes of copper in its first decade.
- Planned increases at Dugald River aim for 200,000 tonnes/annum zinc equivalent production.

- Dividend:
- The Board does not recommend a dividend for the year.

- Safety:
- TRIF: 1.58 per million hours worked in 2019, among the best globally.
- Safety remains MMG's core value with continuous improvement in production safety management.

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Description

MMG Limited announces its consolidated results for the year ended 31 December 2019, providing an extract of its financial statements, while noting that they do not constitute a complete set of records. The board expresses satisfaction with the Group's performance despite challenges.

Technical Information

  • File Format: PDF
  • File Size: 1.58 MB
  • Pages: 69
  • Language: EN
  • Author: Tuyen Tran
  • Total Downloads: 76
  • Last Updated: 2 days ago

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