2012 Financial summary
Revenues of EUR 1,299 million, down 20%.
Mining unit costs of EUR 81/t, down 1%.
Q4 inventory revaluation of EUR -15 million.
EBITDA of EUR 223 million, down 51%.
Basic Loss per A share of EUR (0.02).
Net debt of EUR 551 million.
Debt maturity profile pushed out.
Interim dividend of EUR 0.06 per A share with no final dividend.
2012 Operational summary
Further improvement in safety with LTIFR down 2.5% to 7.45.
Regrettably, 5 miners lost their lives. Drive for fatality-free operations continues.
Coal production of 11.2Mt, and external sales of 9.7Mt.
External sales mix of 51% coking coal and 49% thermal coal.
Coke production of 680kt and external sales of 555kt.
Year-end coal inventories at 1.3Mt.
Recent technical review of Debiensko project completed. EUR 10 million CAPEX spend planned for 2013 on purchase of surface properties and value engineering.
Expansion of existing Karvina mine continues to plan.
Total JORC reserves of 374Mt as at 1 January 2013.
Dividend
As NWR reported a net loss in the second half of 2012, after taking into account inventory revaluation, the Board of NWR is withholding the final dividend, in line with our stated dividend policy. In September 2012, the interim dividend payment of EUR 0.06 per share was paid out to shareholders from the profit made by the Company for first half of 2012.
