Investor Presentaiton
MIE Holdings Corporation
Financial update
Financial performance summary
1H2013
1H2014
(In US$ million)
China Emir-Oil USA
Others
Total
China
Emir-Oil
USA
Others
Total
Revenue
209.0
50.2
2.0
261.1
215.8
77.0
2.1
1H2014 vs
1H2013(%)
294.9
12.9%
Total operating expenses
(129.8)
(42.0)
(3.5)
(4.8)
(179.9)
(145.3)
(57.3)
(4.8)
(9.9)
(217.3)
20.8%
Profit from operations
Margin
79.2
8.2
(1.5)
(4.8)
81.2
70.5
19.7
(2.7)
(9.9)
77.6
(4.4%)
37.9%
16.4%
na
na
31.1%
32.7%
25.6%
na
na
26.3%
(4.8%)
Profit before income tax
72.5
7.9
(1.3)
(31.0)
48.1
66.7
25.2
(2.5)
(68.5)
20.9(2)
(56.5%)
Net profit for the year
Margin
53.5
5.4
(1.3)
(31.0)
26.6
50.1
26.0
(2.5)
(68.5)
5.1(21
(80.8%)
25.6%
10.7%
na
na
10.2%
23.2%
33.8%
na
na
1.7%
(8.5%)
EBITDA
Margin
142.1
16.1
0.5
(4.7)
153.9
146.6
28.8
(0.2)
(13.4)
161.8
5.1%
68.0%
32.0%
23.4%
na
58.9%
67.9%
37.4%
na
na
54.9%
(4.0%)
Adjusted EBITDA (1)
141.8
17.1
0.5
(4.4)
155.0
146.6
31.9
(0.2)
(10.8)
167.5
8.1%
Margin
67.9%
34.1%
23.9%
na
59.4%
68.0%
41.4%
na
na
56.8%
(2.6%)
(1) Adj. EBITDA refers to EBITDA adjusted to exclude non-cash items such as share-based compensation expense, loss on impairment of receivables, and any other non-recurring items such as acquisition
expense, and geological and geophysical expenses.
(2) Includes an one-off finance costs of RMB 155 million (US$25.2 million) regarding 2016 Notes redemption premium and certain unwinding of non-cash discounts/upfront-fees regarding the 2016 Notes.
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