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Endomines AB

Key Figures

  • Summary of income statement, balance sheet and cash flow Open or Close
    Consolidated income statement, MSEK   1-9/2017 1-9/2016 +/- 2016 2015 2014 2013 2012
    Total revenues   91.1 64.5 26.6 102.1 113.5 173.6 164.1 235.1
    Adjusted EBITDA (1) 0.2 -10.7 10.9 -9.2 -62.8 5.5 -24.2 88.4
    EBIT   -26.8 -40.6 13.8 -103.1 -156.6 -45.0 -76.3 27.7
    NET INCOME   -30.3 -40.6 10.3 -125.0 -165.0 -35.2 -63.3 18.9
    TOTAL COMPREHENSIVE INCOME   -30.5 -34.8 4.3 -120.7 -149.6 -35.7 86.4 44.9

     

    Consolidated statement of financial position, MSEK 9/2017 9/2016 +/- 2016 2015 2014 2013 2012
       Intangible assets   61.2 58.6 2.6 59.4 52.2 51.0 47.5 56.7
       Property. plant and equipment   89.2 164.5 -75.3 104.6 163.7 224.7 237.9 248.8
       Deferred tax assets   0.0 20.7 -20.7 0.0 19.6 28.3 16.2 52.3
       Other investments   5.0 7.0 -2.0 6.9 4.8 6.3 2.2 0.9
    Total fixed assets   155.5 250.8 -95.3 170.9 240.3 310.3 303.9 358.7
       Current assets excluding cash   15.3 13.9 1.4 21.7 13.4 34.1 43.5 75.4
       Cash   13.8 46.4 -32.6 29.4 20.0 114.2 45.9 69.2
    Total assets   184.6 311.1 -126.5 222.1 273.7 458.6 393.2 503.2
    Total equity   84.1 200.4 -116.3 114.5 168.6 317.8 267.9 135.7
    Provisions   2.1 6.7 -4.6 2.1 6.3 6.2 8.6 9.9
    Derivatives instruments   0.0 0.1 -0.1 0.0 1.4 39.2 19.5 233.1
    Borrowings   82.1 85.0 -2.9 83.6 83.4 65.0 66.0 77.6
    Other liabilties   16.2 18.9 -2.7 21.9 13.9 30.4 31.2 46.9

     

    Consolidated cash flow statement, MSEK 1-9/2017 1-9/2016 +/- 2016 2015 2014 2013 2012
    Cash flow from operations   -2.4 -9.2 6.8 -13.6 -77.4 11.4 -11.5 66.8
    Cash flow from investments   -11.7 -28.7 17.0 -40.3 -37.3 -24.7 -39.4 -31.8
    Cash flow from financing   -1.4 63.7 -65.1 62.8 21.9 80.3 26.8 -10.5
    Total cash flow for the period   -15.5 25.9 -41.4 9.0 -92.8 67.1 -24.1 24.5
  • Key ratios and data per share Open or Close
    KEY FIGURES 1-9/2017 1-9/2016 +/- 2016 2015 2014 2013 2012
    Production                  
    Milled ore (tonnes)   125,847 108,724 17,123 150,917 335,896 395,342 329,583 249,949
    Head grade (Au gram/tonne)   2.8 2.4 0.4 2.6 1.9 2.3 2.8 4.0
    Gold recovery (%)   83.5 82.8 0.7 82.9 83.0 82.1 85.1 86.1
    Hourly utilization (%)   39.6 35.7 3.9 37.6 87.0 93.4 90.4 91.0
    Gold production (kg)   299.4 215.2 84.2 325.0 529.5 761.9 790.0 866.5
    Gold production (oz)   9,626 6,918 2,708 10,450 17,022 24,497 25,399 27,860
    Cost per milled ore ton (EUR) (2) 69 65 4 68 51 43 62 59
    Cost per milled ore ton (SEK) (2) 661 608 53 639 476 389 536 513
    Cash Cost (USD/oz) (3) 1,136 1,263 -127 1,195 1,258 1,047 1,197 753
    Financial                  
    Revenue growth rate   41 % -24 % - -10 % -35 % 6 % -30 % 57 %
    EBITDA margin (4) 0 % -17 % 17 % -9 % -55 % 3 % -15 % 38 %
    Operating margin (5) -29 % -63 % 33 % -101 % -138 % -26 % -47 % 12 %
    Net margin (6) -33 % -63 % 30 % -122 % -145 % -20 % -39 % 8 %
    Equity ratio (7) 46 % 64 % -19 % 52 % 62 % 69 % 68 % 27 %
    Interest-bearing net debt (8) 68.3 38.6 29.7 54.1 63.4 -49.2 20.1 8.4
    Net gearing (9) 81 % 19 % 62 % 47 % 38 % -15 % 7 % 6 %
    Return on equity (10) -31 % -22 % -9 % -88 % -68 % -12 % -31 % 17 %
    Average number of employees   43 44 -1 44 72 72 89 75

     

    DATA per share 1-9/2017 1-9/2016 +/- 2016 2015 2014 2013 2012
    Earnings per share   -2.89 -4.12 1.23 -12.49 -26.08 -10.20 -20.15 6.52
    Equity per share (11) 8.02 19.11 -11.09 10.92 26.66 50.25 83.97 46.78
    Weighted average number of shares (thousands) (12) 10,486 9,848 638 10,009 6,325 3,452 3,142 2,901
    Number of shares at end of period (13) 10,486 10,486 0 10,486 6,325 6,325 3,191 2,901
    Share price at end of period (SEK) (14) 18.90 24.40 -5.50 18.30 8.50 23.63 110.10 153.37
    Market capitalization at end of period (MSEK)   198 256 -58 192 54 149 351 445
  • Reconciliations of key ratios Open or Close
    EBITDA 1-9/2017 1-9/2016 +/- 2016 2015 2014 2013 2012
    EBIT MSEK -26.8 -40.6 13.8 -103.1 -156.6 -45.0 -76.3 27.7
     +Depreciation and amortisations MSEK 27.1 31.2 -4.1 95.4 88.9 44.8 71.4 36.3
    EBITDA MSEK 0.2 -9.3 9.5 -7.7 -67.8 -0.2 -4.9 64.0
    + Unrealised loss on derivative instruments MSEK 0.0 -1.3 1.3 -1.5 5.0 5.6 -19.4 24.4
    ADJUSTED EBITDA (1) 0.2 -10.7 10.9 -9.2 -62.8 5.5 -24.2 88.4

     

    Cost per milled ore ton (EUR) 1-9/2017 1-9/2016 +/- 2016 2015 2014 2013 2012
    Production cost according to internal accounts "non-IFRS" (KEUR) KEUR 8,726 7,052 1,674 10,187 17,088 16,902 20,409 14,743
    Milled ore (tonnes) tonnes 125,847 108,724 17,123 150,917 335,896 395,342 329,583 249,949
    EUR/ton (2) 69 65 4 68 51 43 62 59
    SEK/ton (at average rate) (2) 661 608 53 639 476 389 536 513

     

    Cash cost (USD/oz 1-9/2017 1-9/2016 +/- 2016 2015 2014 2013 2012
    Production cost according to internal accounts "non-IFRS" (KEUR) KEUR 8,726 7,052 1,674 10,187 17,088 16,902 20,409 14,743
    Conversion to USD at average rates (KUSD) KUSD 6,779 7,877 -1,098 11,275 19,033 22,311 27,144 19,018
    Cost paid to smelters and refineries (KUSD) KUSD 4,156 860 3,296 1,212 2,381 3,337 3,259 1,960
    Total cost (USD) KUSD 10,935 8,737 2,198 12,487 21,414 25,648 30,403 20,978
    Gold production ounces for the period oz 9,626 6,918 2,708 10,449 17,022 24,497 25,399 27,860
    Cash Cost (USD/oz) (3) 1,136 1,263 -127 1,195 1,258 1,047 1,197 753

     

    Equity ratio 1-9/2017 1-9/2016 +/- 2016 2015 2014 2013 2012
    Total equity MSEK 84.1 200.4 -116.3 114.5 168.6 317.8 267.9 135.7
    Total assets MSEK 184.6 311.1 -126.5 222.1 273.7 458.6 393.2 503.2
    Equity divided by total assets (%) (7) 45.6 64.4 -18.8 51.6 61.6 69.3 68.1 27

     

    Net debt and gearing ratio 1-9/2017 1-9/2016 +/- 2016 2015 2014 2013 2012
    Total interest bearing liabilities (Borrowings) MSEK 82.1 85.0 -2.9 83.6 83.4 65.0 66.0 77.6
     - cash MSEK -13.8 -46.4 32.6 -29.4 -20.0 -114.2 -45.9 -69.2
    Net interest-bearing debt (8) 68.3 38.6 29.7 54.2 63.4 -49.2 20.1 8.4
    Equity at end of period MSEK 84.1 200.4 -116.3 114.5 168.6 317.8 267.9 135.7
    Net debt divided by equity (%) (9) 81.2 19.3 62.0 47.3 37.6 -15.5 7.5 6.2

     

    Equity per share 1-9/2017 1-9/2016 +/- 2016 2015 2014 2013 2012
    Equity attributable to owner of the parent company MSEK 84.1 200.4 -116.3 114.5 168.6 317.8 267.9 135.7
    total number of shares at end of period (adjusted for share issue. if applicable) MSEK 10,486 10,486 0 10,486 6,325 6,325 3,191 2,901
    Equity per share (SEK) (11) 8.02 19.11 -11.09 10.92 26.66 50.25 83.97 46.78

     

    OTHER ALTERNATIVE PERFORMANCE MEASURES                  
    Average revenue (in verbal parts of reports)   1-9/2017 1-9/2016 +/- 2016 2015 2014 2013 2012
    Revenues from gold concentrate MSEK 90.7 63.8 26.9 101.1 151.0 191.7 196.0 283.4
    Delivered gold oz 9,538 6,668 2,870 10,206 17,421 24,792 25,481 27,894
    Average revenue per ounce SEK/oz 9,512 9,574 -62 9,902 8,670 7,731 7,692 10,161
    Reconciliation to reported revenues                  
    Deduct realised gold hedge effects MSEK 0.0 0.0 0.0 0.0 -38.1 -19.7 -32.7 -48.9
    Other income MSEK 0.4 0.7 -0.3 1.0 0.6 1.6 0.8 0.6
    Total reported revenues MSEK 91.1 64.5 26.6 102.1 113.5 173.6 164.1 235.1

     

    Working capital (in verbal parts of reports) 1-9/2017 1-9/2016 +/- 2016 2015 2014 2013 2012
    Total current assets MSEK 29.1 60.3 -31.2 51.1 33.4 148.3 89.4 144.6
     - Cash MSEK -13.8 -46.4 32.6 -29.4 -20.0 -114.2 -45.9 -69.2
    Operating current assets MSEK 15.3 13.9 1.4 21.7 13.4 34.1 43.5 75.4
     - Accounts payables MSEK 8.7 13.3 -4.6 15.6 6.3 14.4 14.2 11.9
    - Other current liabilities MSEK 1.5 0.5 1.0 0.8 0.9 7.1 4.9 21.5
     - Accruals MSEK 6.0 5.0 1.0 5.4 6.8 9.0 12.1 13.5
    Operating current liabilities MSEK 16.2 18.8 -2.6 21.8 14 30.5 31.2 46.9
    Working capital MSEK -0.9 -4.9 4.0 -0.1 -0.6 3.6 12.3 28.5

     

    Capital employed (in verbal parts of reports) 1-9/2017 1-9/2016 +/- 2016 2015 2014 2013 2012
    Total assets MSEK 184.6 311.1 -126.5 222.1 273.7 458.6 393.2 503.2
    Total provisions and liabilities MSEK -100.4 -110.7 10.3 -107.6 -105.0 -140.8 -125.3 -367.5
     + Interest-bearing debt MSEK 82.1 85.0 -2.9 83.6 83.4 65.0 66.0 77.6
    Capital employed MSEK 166.3 285.4 -119.1 198.1 252.1 382.8 333.9 213.3
  • Definitions Open or Close
    Endomines provides measures prepared in accordance with IFRS as well as some non-IFRS performance measures as additional information for investors who also use them to evaluate our performance. Since there is no standard method for calculating non-IFRS measures, they are not a reliable way to compare us against other companies. Non-IFRS measures should be used with other performance measures prepared in accordance with IFRS.
    Adjusted EBITDA (1) Results before depreciation, write-down amd unrealized profit/loss on derivative instruments
    Cost per milled ore ton (2) Production cost, excluding depreciation divided by ore tonnes processed
    Cash Cost (USD/oz) (3) Cash cost per ounce is calculated based on the guidance issued by The Gold Institute Production Cost Standard. Mining, ore processing and site administration and off-site smelting and refining costs are included in cash cost while amortization, capital and exploration costs are excluded. "Cash Cost" figure is furnished to provide additional information and is a non-IFRS measure. Conversion from EUR to USD made by average rate for the period EUR/USD.
    EBITDA margin (4) Adjusted EBITDA as per cent of total revenues
    Operating margin (5) EBIT as per cent of total revenues
    Net margin (6) Net income as per cent of total revenues
    Equity ratio (7) Equity as per cent of total assets
    Net debt (8) Total borrowings less cash and cash equivalents
    Net gearing (9) Net debt divided by equity
    Return on equity (10) Earnings after tax divided by average equity (beginning and ending equity)
    Weighted average number of shares (thousands) (12) Adjusted for share issues as the case may be
    Number of shares at end of period (thousands) (13) Adjusted for share issues as the case may be
    Share price at end of period (SEK) (14) Adjusted for share issues as the case may be

© Endomines AB 2019