NorNickel GMK · RUS:GMKN
NorNickel GMK — Norilsk Nickel — Investor Presentation (April 2016)
8 slides from NorNickel GMK's investor presentation, Apr 4, 2016
Slide 1: Medium-Term Financial Targets of Norilsk Nickel
Medium-Term Financial Targets of Norilsk Nickel April 4, 2016
Slide 2: Disclaimer
Disclaimer The information contained herein has been prepared using information available to PJSC MMC Norilsk Nickel (“Norilsk Nickel” or “NN”) at the time of preparation of the presentation. External or other factors may have impacted on the business of Norilsk Nickel and the content of this presen
Slide 3: New Dividend Targets: Variable Dividend Payout Framework
New Dividend Targets of Norilsk Nickel Effective After Final Dividend Payments for 2015 Variable Dividend Payout Framework for NN Dividend Payout as % of EBITDA 60% Self balancing downside protection in case of sustained unfavorable macro conditions Improvement vis-à-vis the current approach (50%) i
Slide 4: Approved Minimum Dividend Payments
New Dividend Targets of Norilsk Nickel Approved Minimum Dividend Payments Approved “floor” for medium-term dividend payments $ bn Adjustment (increase) of the minimal level equal to proceeds from Nkomati disposal 1,0 1,0 1,0 1,0 1,0 1,3 Payable for: 2016 2017 2018 2019 2020 2021 Payable in: 2017 201
Slide 5: A Differentiated Investment Proposition
New Dividend Targets of Norilsk Nickel A Differentiated Investment Proposition • Simplicity – simple and easy to calculate payout ratio of EBITDA, with no exposure to more volatile and adjustments-driven net profit • Balance – ensures sustainable leverage levels of Norilsk with self-balancing payout
Slide 6: Superior Shareholder Returns vis-à-vis the Industry
New Dividend Targets of Norilsk Nickel Superior Shareholder Returns vis-à-vis the Industry Leading Mining Companies - Projected Dividend Yield for 2016 FY (to be paid in 2017) Corresponding to the minimum dividend of $1.3bn* 6.2% 4.1% 1.7% 0.1% 0.0% 0.0% Norilsk Nickel Peer 1 Peer 2 Peer 3 Peer 4 Pe
Slide 7: Detailed Description and Calculation
New Dividend Targets of Norilsk Nickel Detailed Description and Calculation The new dividend targets will be effective after the final dividend for 2015 is paid and applied to dividend distributions for the year 2016 and onwards The final dividend for the year ended 31 December 2015 will be paid
Slide 8: Capital Expenditures Targets for 2016-2018
Capital Expenditures Targets for 2016-2018 CAPEX of USD 4.4 billion cumulative over 2016-2018, excluding 1 capex for additional projects Additional CAPEX for the development of Chita Project (Bystrinsky 2 GOK) using the project financing mechanism Additional CAPEX for the realisation of Sulfur proje