Lubelski Wegiel BOGDANKA SA · GPW:LWB
Lubelski Wegiel BOGDANKA SA — H1 2012 Earnings Presentation
19 slides from Lubelski Wegiel BOGDANKA SA's earnings presentation, August 2012
Slide 1: Investors Presentation 1H2012
INVESTORS PRESENTATION 1H2012 August 2012
Slide 2: Presenting Team
PRESENTING TEAM Krystyna Borkowska Zbigniew Stopa CFO The Deputy to the President of Management for Technical Affairs Mirosław Taras CEO
Slide 3: Demand on the Domestic Market
DEMAND ON THE DOMESTIC MARKET … The first half of 2012 saw a decrease in demand for power coal on the domestic market. Coal reserves on mounds have increased significantly. An average price of power coal (in all sizes) in the period between January and June 2012 amounted to PLN 294.01 per tonne,
Slide 4: ...Affect the Sales of Coal
...AFFECT THE SALES OF COAL Coal output in the industry Power coal sales in the industry (million of tonnes) (million of tonnes) 40 34.88 34.33 35 29.07 28.20 27.50 30 28 27 25 26 20 25 15 24 22.93 23 10 22 5 21 0 20 1H2011 1H2012 1H2011 1H2012 Total coal output Power coal output Power coal sales in
Slide 5: ...Affects the Stock and Import of Coal
...AFFECTS THE STOCK AND IMPORT OF COAL The stock of hard coal in mines Import and export of coal (million of tonnes) (million of tonnes) 6 5.25 5 4.05 8,0 4 7,0 1.0 6,0 3 5,0 2.16 1.99 0.8 4,0 2 3,0 0.8 6.1 0.7 1 2,0 3.9 1,0 2.3 2.2 0 - Coal Power coal Export Import Export Import 1H2011 1H2012 1H20
Slide 6: Extraction of Commercial Coal at LW Bogdanka in H1 2012
EXTRACTION OF COMMERCIAL COAL AT LW BOGDANKA IN H1 2012 Gross extraction (5.78 million tonnes in H1 2012, i.e. a 45.7% increase in comparison with H1 2011) was executed 4,50 4.18 with the use of maximum power and extraction capacity. 4,00 3.88 3,50 Net extraction (4.18 million tonnes in H1 2012,
Slide 7: Commercial Coal Yield
COMMERCIAL COAL YIELD 80% 75% 76% 74% 73% 74% 74% 70% 71% 72% 72% 72% 71% 71% 70% 67% 66% 65% 65% 64% 64% 60% 60% 58% 50% 40% 30% 20% 10% 0% January February March April May June July 2010 2011 2012 7
Slide 8: Results of the LW Bogdanka Group
RESULTS OF THE LW BOGDANKA GROUP Change Change Item 1H2010 1H2011 1H2012 1H2012/ 1H2010 1H2012/ 1H2011 (PLN’000) [%] [%] Revenue 578 099 582 081 906 538 +56.81 +55.74 Gross profit 183 103 121 616 301 445 +64.63 +147.87 EBITDA 194 709 145 185 365 343 +87.64 +151.64 EBIT 126 638 70 409 212 815 +68.05
Slide 9: Results of the LW Bogdanka Group for H1 2012
RESULTS OF THE LW BOGDANKA GROUP FOR H1 2012 Revenue on sales: •In H1 2012, the Group's sales revenue was almost 56% higher than in the analogous period of the previous year. The increase in total revenue is attributable to higher revenue on sales of coal (by almost 64%). •The increase in the revenu
Slide 10: Profitability Ratios
PROFITABILITY RATIOS 45,00% 40.30% 40,00% 35,00% 30,00% 24.94% 25,00% 23.48% 19.11% 20,00% 15,00% 12.10% 10.68% 10,00% 5,00% 0,00% net profit margin EBIT margin EBITDA margin 1H2011 1H2012 10
Slide 11: Key Events in 1H2012 and After the Balance-Sheet Date
KEY EVENTS IN 1H2012 AND AFTER THE BALANCE-SHEET DATE •Introducing free-of-charge shares for eligible employees to public trading in January 2012; • Conclusion of significant commercial agreements and annexes: A new long-term significant agreement with Elektrownia Kozienice S.A. for the purposes of
Slide 12: Key Material Investments of the LW Bogdanka Group
Key material investments of the LW BOGDANKA Group in the 1H2012 and the 1H2011 Key material investments of the Outlays incurred Outlays incurred LW BOGDANKA Group in the from 1 January 2012 from 1 January 2011 1H2012 and the 1H2011 to 30 June 2012 to 30 June 2011 [PLN '000] Construction and assembly
Slide 13: Thank You
THANK YOU Lubelski Węgiel BOGDANKA S.A. Bogdanka, 21-013 Puchaczów Tel. +48 81 462 51 00 [email protected] Investor Relations Tel. +48 81 462 56 29 Fax +48 81 462 54 26 [email protected] 13
Slide 14: Profit and Loss Account
PROFIT AND LOSS ACCOUNT Change (PLN ‘000) 1H2012 rok 1H2011 rok 1H2012/1H2011 [%] Revenue 906 538 582 081 +55.74 Cost of products, goods and materials sold, sales 667 825 516 996 +29.17 and administrative costs Gross profit on sales 238 713 65 085 +266.77 Other revenue 1 568 7 951 -80.28 Other costs
Slide 15: Balance Sheet
BALANCE SHEET (PLN ‘000) 2012.06.30 2011.12.31 Fixed assets, including: 2 723 313 2 674 216 Cash and cash equivalents 60 170 58 288 Current assets, including: 674 769 402 012 Cash and cash equivalents 329 847 102 820 Total assets 3 398 082 3 076 228 Current liabilities 511 973 307 016 Non-current li
Slide 16: Cash Flow
CASH FLOW (PLN ‘000) 1H2012 1H2011 Operating cash flow 357 464 167 952 Operating cash inflow 409 863 180 386 Interest paid -957 - Income tax paid -51 442 -12 434 Investing cash flow -230 437 -372 782 Acquisition of tangible fixed assets -222 729 -372 917 Interest paid regarding investing activity -7
Slide 17: Sales Structure
SALES STRUCTURE Item (PLN ‘000) 1H2012 Share [%] 1H2011 Share [%] Coal sales 878 156 96.87 536 281 92.13 Sales of ceramics 3 726 0.41 4 649 0.80 Other activities 18 959 2.09 23 765 4.08 Sales of goods and 5 697 0.63 17 386 2.99 materials Total sales revenue 906 538 100.00 582 081 100.00 17
Slide 18: Structure of Costs by Type at Bogdanka
STRUCTURE OF COSTS BY TYPE AT BOGDANKA 1.65% 1.91% 0.62% 1.98% 0.93% 1.96% 11.21% 18.70% 25.83% 28.07% 31.23% 26.01% 24.95% 24.95% Depreciation and amortisation Materials and energy consumption External services Employee benefits Entertainment and advertising expenses Taxes, fees and charges Other e
Slide 19: Disclaimer
DISCLAIMER This presentation ("Presentation") has been prepared by BOGDANKA S.A. ("Company"). The information contained in the Presentation has been gathered and prepared with due diligence, based on facts and information originating from sources which the Company views as reliable, and in particula
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