Investor Presentaiton
TMK
Key Consolidated Financial Highlights
(US$mln)(a)
Revenue
Adjusted EBITDA (b)
Adjusted EBITDA Margin (%)
Profit (Loss)
Net Profit Margin (%)
2013
2012
2011
6,432
6,688
6,754
952
1,028
1,047
15%
15%
15%
215
278
385
3%
4%
6%
Pipe Sales ('000 tonnes)
4,287
4,238
4,185
Average Net Sales/tonne (US$)(c)
1,500
1,578
1,614
Cash Cost per tonne (US$) (d)
1,207
1,108
1,152
Cash Flow from Operating Activities
787
703
929
Capital Expenditure(e)
402
397
445
Total Debt(f)
3,787
3,694
3,885
Net Debt(f)
3,552
3,600
3,656
Short-term Debt/Total Debt
16%
11%
27%
Net Debt/Adjusted EBITDA
3.4x
3.8x
3.6x
Adjusted EBITDA/Finance Costs
3.8x
3.5x
3.5x
(a) IFRS financials figures were rounded for the presentation's purposes. Minor differences with FS may arise due to rounding
(b) Adjusted EBITDA is calculated as profit before tax plus finance costs minus finance income plus depreciation and amortisation adjusted for non-operating and non-recurrent items. In 1Q
2013 management amended its definition of Adjusted EBITDA to include accruals of bonuses to management and employees into the calculation of Adjusted EBITDA instead of actual
cash payments. Management believes such an approach better reflects the Group's quarterly performance and eliminates fluctuations during the year. The comparative information in
this presentation was adjusted accordingly.
(c) Sales include other operations and is calculated as Revenue divided by sales volumes tonnes
(d) Cash Cost per Tonne is calculated as Cost of Sales less Depreciation & Amortisation divided by sales volumes
(e) Purchase of PP&E investing cash flows
(f)
Total debt represents interest bearing loans and borrowings plus liability under finance lease; Net debt represents Total debt less cash and cash equivalents and short-term financial
investments
Source: TMK Consolidated IFRS Financial Statements
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