Sierra Rutile 2023 Half Year Results Presentation
2023 First Half Financial Highlights
Delivered continued profitability and cashflow to support future growth projects
Highlights
Revenue
Gross Profit
Sierra Rutile
$108.3 million
(HY22: $122.9 million)
Underlying NPAT
$28.2 million
(HY22: $30.0 million)
Net Cash from operating activities
$7.0 million
(HY22: $35.4 million)
$30.5 million
(HY22: $33.0 million)
NPAT
($0.6m) million
(HY22: $53.5 million)
Net Cash at 30 June
$32.7 million
(HY22: $37.7 million)
•
•
Solid financial performance despite weakening demand in pigment
market, and power disruption in Q2 impacting production.
Revenue down ~12% but gross profit down only 8%, reflecting
focus on cost management.
Underlying NPAT (excluding impairments/reversals) broadly in line
with previous corresponding period.
Cash generation from operations remained positive despite power
disruption and inventory increases in Q2.
Retained strong cash position to support Mogbwemo project once
fiscal position clarified.
• Decrease in cash was primarily due to $14.5 million capex
(including $5.7 million on Sembehun DFS and ESHIA), versus $2.2
million capex in prior corresponding period.
Note: All figures are in US$ unless otherwise noted
Sierra Rutile 2023 Half Year Results Presentation | ASX: SRX
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