FY22 Overview & Safety Program Update
OUR BALANCE SHEET
Our balance sheet returned to a net cash position following transformational portfolio activity,
before our commitment to return a further US$1B to shareholders
June 2021 net cash/(debt)
(US$M)
June 2022 net cash/(debt)
(US$M)
2,500
2,000
1,500
1,000
500
2,500
2,000
1,500
1,000
US$406M
500
US$538M
|
I
US$1,037M remaining to be returned
I
(500)
(500)
Cash
Debt
FY21 net cash
Cash
Debt
FY22 net cash i Final
Ordinary
dividend
Special
dividend
I
We continue to prioritise a strong balance sheet and investment grade credit rating through the cycle
Remaining
capital
management
program
I
Our liquidity position remains strong, with US$2.4B cash on hand 26 and an undrawn US$1.4B revolving credit facility 27
We issued US$700M in 10 year Senior Unsecured Notes (Notes) in April 2022 with a 4.35% coupon to support the acquisition of Sierra Gorda 28
Total debt of US$1.8B is long-dated and includes:
- ~US$700M Notes due in 2032
US$556M Worsley Alumina cogeneration lease expiring in 203929
US$335M in cash managed on behalf of our manganese JV
Our balance sheet remains modestly geared with a leverage ratio 0.226
SOUTH32
(US$499M)
Adjusted
net debt
SLIDE 16View entire presentation