TerraCom Ltd has provided shareholders with the combined financial result for the operations for December 2021.
The operating EBITDA from the Australia Business Unit for Decemeber 2021 was AUS$19.8 million. The operating EBITDA result was achieved from coal sales of 167 000 t, which represents an operating cash margin of approximately AUS$118/t. As announced on 7 January 2022, a third shipment for the month of December 2021 was delayed due to poor weather conditions experienced at the port throughout the Christmas to New Year period. The shipment subsequently sailed on 5 January 2022. All coal for this shipment was at the port and ready to be loaded on 31 December 2021 The revenue and EBITDA for this shipment will now be recorded within January 2022.
The operating EBITDA from the South African Business Unit for December 2021 as AUS$4.7 million. The operating EBITDA result was achieved from total managed coal sales of 359 000 t, comprising 195 000 domestic coal sales and 164 000 export coal sales. Seasonal rainfall activity at this time of year is expected; however, higher than seasonal averages negatively affected both production and logistics, which impacted the financial results for the South African operations.
Combined operating EBITDA
Operating EBITDA from the Australian and South African Business Units (including equity holders) for the month was as follows:
- EBITDA: AUS$19.8 million.
- EBITDA: AUS$118.5/t sold.
- EBITDA: AUS$4.7 million.
- EBITDA: AUS$13/t sold.
Read the article online at: https://www.worldcoal.com/coal/25012022/terracom-announces-ebitda-results-for-december-2021/