Investor Presentaiton
Key Consolidated Financial Highlights
(US$mln)(a)
Revenue
Adjusted EBITDA (b)
Adjusted EBITDA Margin (%)
Profit (Loss)
Net Profit Margin (%)
2012
2011
2010
6,688
6,754
5,579
1,028
1,047
921
15%
15%
17%
282
385
104
4%
6%
2%
Pipe Sales ('000 tonnes)
4,238
4,185
3,962
Average Net Sales/tonne (US$)(c)
1,578
1,614
1,408
Cash Cost per tonne (US$) (d)
1,168
1,207
1,027
Cash Flow from Operating Activities
787
386
929
Capital Expenditure(e)
402
314
445
Total Debt(f)
3,787
3,872
3,885
Net Debt(f)
3,552
3,711
3,656
Short-term Debt/Total Debt
16%
18%
27%
Net Debt/Adjusted EBITDA
3.4x
4.0x
3.6x
Adjusted EBITDA/Finance Costs
3.5x
3.5x
2.1x
TMK
(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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