Vedanta Resources plc
Full Year Results For The Year Ended 31 March 2012
Financial Highlights
Revenue of US$14 billion, up 23%
EBITDA of US$4.0 billion, up 13%; EBITDA margin of 29%
Underlying EPS1 of US$1.42, down 46%, due to lower attributable profit from subsidiaries
Final dividend of 35 US cents per share, up 8%
Free cash flow of US$2.5 billion before growth capex
Invested US$2.4 billion in organic growth programme during the year
Strong balance sheet with Cash and Liquid Investments of US$6.9 billion
Business Highlights
Group consolidation and simplification announced - on track for completion in CY 2012
Integrated Cairn India - Rajasthan production now at 175kbopd; basin potential of 300kbopd
Acquired Liberia Iron Ore assets with c.1 bn tonnes R&R; first shipment expected in FY 2014
Increased Reserves and Resources in Zinc, Iron Ore and Oil and Gas
Significant production growth in Silver, Alumina, Aluminium, Power and Oil and Gas
Commissioned new Silver Refinery, increasing Silver capacity to 16 moz p.a.
Three units of 2,400MW Jharsuguda Power Plant operational, fourth unit under trial run
(in $ millions, except as stated)
|
Consolidated Group Results |
FY2011-12 |
FY2010-11 |
% Change |
|
Revenue |
14,005.3 |
11,427.2 |
22.6 |
|
EBITDA |
4,026.3 |
3,566.8 |
12.9 |
|
EBITDA Margin |
28.7% |
31.2% |
- |
|
EBITDA margin excluding custom Smelting (%) |
40.6% |
44.7% |
- |
|
Operating Profit |
2,387.7 |
2,534.3 |
(5.8) |
|
Attributable Profit |
59.8 |
770.8 |
(92.2) |
|
Underlying attributable Profit1 |
387.2 |
715.3 |
(45.8) |
|
Basic Earnings per Share (US cents) |
21.9 |
283.2 |
(92.3) |
|
Earnings per Share on Underlying Profit (US cents) |
142.0 |
262.8 |
(46.0) |
|
ROCE (excluding project capital work in progress) |
7.7% |
21.0% |
- |
|
Total Dividend (US cents per share) |
55.0 |
52.5 |
4.8 |
1 Based on profit for the period after adding back special items and other gains and losses, and their resultant tax and minority interest effects (refer to note 10 of Consolidated financial statements)
Mr Anil Agarwal, Chairman of Vedanta Resources plc said, "This has been a transformational year for the Group, in which we completed the Cairn India acquisition, announced the consolidation of the Group, and delivered strong production growth. We are one of the largest diversified natural resources companies globally, and with our growth projects largely completed, are well placed to continue this strong growth."
