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Endomines AB

Key Figures

  • Summary of income statement, balance sheet and cash flow Open or Close
    Consolidated income statement, MSEK   1-6/2017 1-6/2016 +/- 2016 2015 2014 2013 2012
    Total revenues   63.5 37.2 26.3 102.1 113.5 173.6 164.1 235.1
    Adjusted EBITDA (1) -0.8 -11.6 10.8 -9.2 -62.8 5.5 -24.2 88.4
    EBIT   -20.2 -28.2 8.0 -103.1 -156.6 -45.0 -76.3 27.7
    NET INCOME   -22.0 -28.3 6.3 -125.0 -165.0 -35.2 -63.3 18.9
    TOTAL COMPREHENSIVE INCOME   -21.6 -25.2 3.6 -120.7 -149.6 -35.7 86.4 44.9
                       
    Consolidated statement of financial position, MSEK   6/2017 6/2016 +/- 2016 2015 2014 2013 2012
       Intangible assets   61.6 54.8 6.8 59.4 52.2 51.0 47.5 56.7
       Property, plant and equipment   97.3 164.4 -67.1 104.6 163.7 224.7 237.9 248.8
       Deferred tax assets   0.0 20.2 -20.2 0.0 19.6 28.3 16.2 52.3
       Other investments   5.1 6.8 -1.7 6.9 4.8 6.3 2.2 0.9
    Total fixed assets   164.0 246.2 -82.2 170.9 240.3 310.3 303.9 358.7
       Current assets excluding cash   17.4 20.0 -2.6 21.7 13.4 34.1 43.5 75.4
       Cash   12.4 53.3 -40.9 29.4 20.0 114.2 45.9 69.2
    Total assets   193.7 319.5 -125.8 222.1 273.7 458.6 393.2 503.2
    Total equity   92.9 210.0 -117.1 114.5 168.6 317.8 267.9 135.7
    Provisions   2.2 6.5 -4.3 2.1 6.3 6.2 8.6 9.9
    Derivatives instruments   0.0 0.5 -0.5 0.0 1.4 39.2 19.5 233.1
    Borrowings   83.3 84.0 -0.7 83.6 83.4 65.0 66.0 77.6
    Other liabilties   15.3 18.4 -3.1 21.9 13.9 30.4 31.2 46.9
                       
    Consolidated cash flow statement, MSEK   1-6/2017 1-6/2016 +/- 2016 2015 2014 2013 2012
    Cash flow from operations   -5.4 -15.4 10.0 -13.6 -77.4 11.4 -11.5 66.8
    Cash flow from investments   -10.6 -16.0 5.4 -40.3 -37.3 -24.7 -39.4 -31.8
    Cash flow from financing   -1.1 64.7 -65.8 62.8 21.9 80.3 26.8 -10.5
    Total cash flow for the period   -17.1 33.3 -50.4 9.0 -92.8 67.1 -24.1 24.5
                       
  • Key ratios and data per share Open or Close
    KEY FIGURES   1-6/2017 1-6/2016 +/- 2016 2015 2014 2013 2012
    Production                  
    Milled ore (tonnes)   88,425 72,620 15,805 150,917 335,896 395,342 329,583 249,949
    Head grade (Au gram/tonne)   2.8 2.2 0.6 2.6 1.9 2.3 2.8 4.0
    Gold recovery (%)   83.4 81.5 1.9 82.9 83.0 82.1 85.1 86.1
    Hourly utilization (%)   42.3 36.5 5.8 37.6 87.0 93.4 90.4 91.0
    Gold production (kg)   205.3 132.2 73.1 325.0 529.5 761.9 790.0 866.5
    Gold production (oz)   6,601 4,251 2,350 10,450 17,022 24,497 25,399 27,860
    Cost per milled ore ton (EUR) (2) 71 65 6 68 51 43 62 59
    Cost per milled ore ton (SEK) (2) 679 600 79 639 476 389 536 513
    Cash Cost (USD/oz) (3) 1,162 1,358 -196 1,195 1,258 1,047 1,197 753
    Financial                  
    Revenue growth rate   71 % -35 % - -10 % -35 % 6 % -30 % 57 %
    EBITDA margin (4) -1 % -31 % 30 % -9 % -55 % 3 % -15 % 38 %
    Operating margin (5) -32 % -76 % 44 % -101 % -138 % -26 % -47 % 12 %
    Net margin (6) -35 % -76 % 41 % -122 % -145 % -20 % -39 % 8 %
    Equity ratio (7) 48 % 66 % -18 % 52 % 62 % 69 % 68 % 27 %
    Interest-bearing net debt (8) 70.9 30.7 40.2 54.1 63.4 -49.2 20.1 8.4
    Net gearing (9) 76 % 15 % 62 % 47 % 38 % -15 % 7 % 6 %
    Return on equity (10) -21 % -15 % -6 % -88 % -68 % -12 % -31 % 17 %
    Average number of employees   43 43 0 44 72 72 89 75
                       
    DATA per share   1-6/2017 1-6/2016 +/- 2016 2015 2014 2013 2012
      -2.10 -2.97 0.87 -12.49 -26.08 -10.20 -20.15 6.52
    Equity per share (11) 8.86 20.03 -11.17 10.92 26.66 50.25 83.97 46.78
    Weighted average number of shares (thousands) (12) 10,486 9,526 960 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) 12.50 19.80 -7.30 18.30 8.50 23.63 110.10 153.37
    Market capitalization at end of period (MSEK)   131 208 -77 192 54 149 351 445
                       
                       
  • Reconciliations of key ratios Open or Close
    EBITDA 1-6/2017 1-6/2016 +/- 2016 2015 2014 2013 2012
    EBIT MSEK -20.2 -28.2 8.0 -103.1 -156.6 -45.0 -76.3 27.7
     +Depreciation and amortisations MSEK 19.4 17.6 1.8 95.4 88.9 44.8 71.4 36.3
    EBITDA MSEK -0.8 -10.6 9.8 -7.7 -67.8 -0.2 -4.9 64.0
    + Unrealised loss on derivative instruments MSEK 0.0 -0.9 0.9 -1.5 5.0 5.6 -19.4 24.4
    ADJUSTED EBITDA (1) -0.8 -11.6 10.8 -9.2 -62.8 5.5 -24.2 88.4
                       
    Cost per milled ore ton (EUR)   1-6/2017 1-6/2016 +/- 2016 2015 2014 2013 2012
    Production cost according to internal accounts "non-IFRS" (KEUR) KEUR 6,261 4,688 1,573 10,187 17,088 16,902 20,409 14,743
    Milled ore (tonnes) tonnes 88,425 72,620 15,805 150,917 335,896 395,342 329,583 249,949
    EUR/ton (2) 71 65 6 68 51 43 62 59
    SEK/ton (at average rate) (2) 679 600 79 639 476 389 536 513
                       
    Cash cost (USD/oz 1-6/2017 1-6/2016 +/- 2016 2015 2014 2013 2012
    Production cost according to internal accounts "non-IFRS" (KEUR) KEUR 6,261 4,688 1,573 10,187 17,088 16,902 20,409 14,743
    Conversion to USD at average rates (KUSD) KUSD 6,779 5,237 1,542 11,275 19,033 22,311 27,144 19,018
    Cost paid to smelters and refineries (KUSD) KUSD 890 536 354 1,212 2,381 3,337 3,259 1,960
    Total cost (USD) KUSD 7,669 5,773 1,896 12,487 21,414 25,648 30,403 20,978
    Gold production ounces for the period oz 6,601 4,251 2,350 10,449 17,022 24,497 25,399 27,860
    Cash Cost (USD/oz) (3) 1,162 1,358 -196 1,195 1,258 1,047 1,197 753
                       
    Equity ratio 1-6/2017 1-6/2016 +/- 2016 2015 2014 2013 2012
    Total equity MSEK 92.9 210.0 -117.1 114.5 168.6 317.8 267.9 135.7
    Total assets MSEK 193.7 319.5 -125.8 222.1 273.7 458.6 393.2 503.2
    Equity divided by total assets (%) (7) 48 65.7 -17.7 51.6 61.6 69.3 68.1 27
                       
    Net debt and gearing ratio 1-6/2017 1-6/2016 +/- 2016 2015 2014 2013 2012
    Total interest bearing liabilities (Borrowings) MSEK 83.3 84.0 -0.7 83.6 83.4 65.0 66.0 77.6
     - cash MSEK -12.4 -53.3 40.9 -29.4 -20.0 -114.2 -45.9 -69.2
    Net interest-bearing debt (8) 70.9 30.7 40.2 54.2 63.4 -49.2 20.1 8.4
    Equity at end of period MSEK 92.9 210.0 -117.1 114.5 168.6 317.8 267.9 135.7
    Net debt divided by equity (%) (9) 76.3 14.6 61.7 47.3 37.6 -15.5 7.5 6.2
                       
    Equity per share 1-6/2017 1-6/2016 +/- 2016 2015 2014 2013 2012
    Equity attributable to owner of the parent company MSEK 92.9 210.0 -117.1 114.5 168.6 317.8 267.9 135.7
    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) 8.86 20.03 -11.17 10.92 26.66 50.25 83.97 46.78
                       
    OTHER ALTERNATIVE PERFORMANCE MEASURES                  
    Average revenue (in verbal parts of reports) 1-6/2017 1-6/2016 +/- 2016 2015 2014 2013 2012
    Revenues from gold concentrate MSEK 63.1 36.8 26.3 101.1 151.0 191.7 196.0 283.4
    Delivered gold oz 6,466 3,958 2,508 10,206 17,421 24,792 25,481 27,894
    Average revenue per ounce SEK/oz 9,760 9,300 460 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 0.4 0.0 1.0 0.6 1.6 0.8 0.6
    Total reported revenues MSEK 63.5 37.2 26.3 102.1 113.5 173.6 164.1 235.1
                       
    Working capital (in verbal parts of reports) 1-6/2017 1-6/2016 +/- 2016 2015 2014 2013 2012
    Total current assets MSEK 29.8 73.3 -43.5 51.1 33.4 148.3 89.4 144.6
     - Cash MSEK -12.4 -53.3 40.9 -29.4 -20.0 -114.2 -45.9 -69.2
    Operating current assets MSEK 17.4 20.0 -2.6 21.7 13.4 34.1 43.5 75.4
     - Accounts payables MSEK 8.6 10.9 -2.3 15.6 6.3 14.4 14.2 11.9
    - Other current liabilities MSEK 1.7 0.8 0.9 0.8 0.9 7.1 4.9 21.5
     - Accruals MSEK 5.0 6.7 -1.7 5.4 6.8 9.0 12.1 13.5
    Operating current liabilities MSEK 15.3 18.4 -3.1 21.8 14 30.5 31.2 46.9
    Working capital MSEK 2.1 1.6 0.5 -0.1 -0.6 3.6 12.3 28.5
                       
    Capital employed (in verbal parts of reports) 1-6/2017 1-6/2016 +/- 2016 2015 2014 2013 2012
    Total assets MSEK 193.7 319.5 -125.8 222.1 273.7 458.6 393.2 503.2
    Total provisions and liabilities MSEK -100.8 -109.4 8.6 -107.6 -105.0 -140.8 -125.3 -367.5
     + Interest-bearing debt MSEK 83.3 84.0 -0.7 83.6 83.4 65.0 66.0 77.6
    Capital employed MSEK 176.2 294.1 -117.9 198.1 252.1 382.8 333.9 213.3
  • 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 2017