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Press Releases / 2012 / NWR Full Year 2011 Results 

NWR Full Year 2011 Results

23/2/2012

New World Resources Plc (‘NWR’ or the ‘Company’) today announced its financial results for the year ended 31 December 2011.

Financial highlights 

  • Consolidated revenues1 of EUR 1,632 million, up 3%
  • EBITDA1 of EUR 454 million, down 2%
  • Underlying net profit of EUR 130 million, up 1%2
  • Basic EPS of EUR 0.47
  • Proposed final dividend of EUR 0.07 per A share, bringing FY dividend to EUR 0.23
  • Net debt of EUR 391 million; no significant short term debt maturities

Operational highlights

  • LTIFR3 improved by 8% to 7.87
  • Coal production of 11.2Mt, and external sales of 10.6Mt
  • Coke production of 770kt, and external sales of 555kt
  • Broke ground at Debiensko Mine in Poland
  • Intention to explore the 1.5bnt hard coal resource at Frenstat Mine
  • Reincorporation in the UK and inclusion in FTSE index series

2012 outlook

  • Q1 coking coal and coke prices agreed at EUR 142/t and EUR 311/t, respectively 
  • Thermal coal average prices for 2012 agreed at EUR 74/t
  • Coal production and sales targets of 10.8–11Mt and 10.25–10.5Mt, respectively
  • Expected external coal sales split of 48% coking coal and 52% thermal coal
  • Coke production and coke sales targets of 700kt and 600kt respectively
  • Mining unit costs expected to be broadly flat, ex-FX fluctuations
  • Expected CAPEX of EUR 250 million of which EUR 40-50 million for Debiensko

 

1 From continuing operations.
2 Excluding EUR 82 million one-off gain from the sale of NWR Energy and EUR 23 million positive tax refund in FY 2010.
3 Lost Time Injury Frequency Rate represents the number of reportable injuries causing at least three days of absence per million hours worked. Includes contractors.

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