Monday 18 November 2013 10h00 1 MANDI GLAD 2 CHIEF EXECUTIVE OFFICER LOCATION 3 OPERATIONS AND PROJECTS Moabsvelden Vanggatfontein Colliery National road City Town Power station Richards Bay coal line ID: 572937
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RESULTS FOR SIX MONTHS ENDED 30 SEPTEMBER 2013
Monday, 18 November 201310h00
1Slide2
MANDI GLAD
2
CHIEF EXECUTIVE OFFICERSlide3
LOCATION
3
OPERATIONS AND PROJECTS
Moabsvelden
Vanggatfontein
Colliery
National road
City
Town
Power station
Richards Bay coal line
CollieryProjectAcquisition
Koudelager
Project
Vaalkrantz
Colliery
Braakfontein
Project
Sterkfontein
ProjectSlide4
4
HIGHLIGHTS
Good
safety performance
R205 million
cash
generated from operations
R117 million
gross
profit
compared with a gross loss
ofR38 million in 1HFY13
HEPS up 192%
from (
21.1) cps to 19.4
cps
R39 million
debt repaid
70% increase
in group revenue to R710 million
55% increase
in
Eskom sales to 1.1Mt
Commenced developmentof Pit 4 at VanggatfonteinAcquisition of Xceed ResourcesSlide5
SAFETY
VANGGATFONTEIN LTIFR
VAALKRANTZ LTIFR
5
FATALITY FREE SINCE INCEPTION
* LTIFR per 200 000 man hoursSlide6
VANGGATFONTEIN
VAALKRANTZ
6
OPERATIONS
1HFY13
2HFY13
1HFY14
Sales (
kt
)
769
805
1 198
ROM (
kt
)
1 473
1 312
1 727
Revenue (
Rm
)
284
362
585
EBITDA (
Rm
)
36
62
269
Capex
(
Rm
)
71
133
135
No. of
employees*
406
416
486
1HFY13
2HFY13
1HFY14
Sales (
kt
)
151
175
154
ROM (
kt
)
285
266
228
Revenue (
Rm
)
133139125EBITDA (Rm)2389Capex (Rm)702No. of employees*767778808
* Includes contractorsSlide7
7
GROWTHSlide8
SUSTAINABLE
8
GROWTH PROFILE
2.40
5.36
2010
2011
2012
2013
2014
2015
2016
Mtpa
saleable
2017
2018
LOM
20 years
Vaalkrantz
Colliery
LOM 12 – 24 months
Moabsvelden
Project
LOM
18 years
Braakfontein
Project
LOM
12years
Koudelager ProjectLOM 20 years2.752.864.26
VanggatfonteinCollierySlide9
XCEED ACQUISITION
Proximity to Vanggatfontein
44Mt reserve doubles our Delmas footprint
Quick lead time
Executed mining right
NEMA approval
Credit approved term sheet
Low stripping ratio
Long life open pit
Operational and financial synergies
Product diversificationIncrease Eskom supply9RATIONALESlide10
XCEED ACQUISITION
10
TIMELINE
18 Nov
18 Nov
24 Dec
16 Dec
Implementation Deed
Competition Commission Approval
Gunvor
Subscription Agreement
Credit Approved Term Sheet
Submission of circular to JSE
SARB Approval
Post circular to shareholders
First Court Date
KEH shareholder meeting
Xceed
Scheme meeting, announce results to ASX
Second Court Date, announce to ASX
Effective date
- file court order with ASIC and announce to ASX -
Xceed securities cease trading at close of trading on ASXRecord Date for entitlement toScheme ConsiderationImplementation Date – KEH paysAggregate Scheme Considerationto Xceed23 Jan
03 Feb
06 Feb
07 Feb14 Feb19 FebSlide11
JACQUES ROSSOUW
11
CHIEF FINANCIAL OFFICERSlide12
FINANCIAL
12
PERFORMANCE
EXTRACTS FROM THE STATEMENT OF COMPREHENSIVE
INCOME (
Rm
)
1HFY14
1HFY13
% CHANGE
FY13
Revenue
709.8
417.3
70%
918.8
Cost of Sales
(592.6)
(455.2)
30%
(946.1)
* Cash
cost
(412.4)
(374.5)
10%
(726.3)
* Depreciation
(183.1)
(121.9)
50%
(235.2)
* Inventory
2.9
41.2
(93%)
15.4
Gross profit/(loss)
117.2
(37.9)
>100%
(27.3)
Operating profit/(loss)
84.6
(69.9)
>100%
(139.4)
Income taxation (expense)/credit
(21.4)
19.5
>(100%)
39.3
Profit/(loss) after tax
42.3
(64.2)
>100%
(132.3)
HEPS (cents per share)
19.4
(21.1)
>100%
(30.2)* From operational resultsSlide13
FINANCIAL
13
PERFORMANCE
COST OF SALES ANALYSIS
(
Rm
)
1HFY14
1HFY13
Mining Contractors
255.6
199.6
Amortisation and depreciation
183.1
126.2
Transport costs
160.9
94.6
Fuel
63.1
43.8
Other direct mining costs
67.5
74.4
Inventory movement
(2.9)
(41.2)
Deferred
stripping capitalised
(134.7)
(42.2)
592.6
455.2Slide14
FINANCIAL
14
PERFORMANCE
GROSS PROFIT
Revenue (
Rm
)
20%
0%
15%
10%
5%
-10%
-5%
GP %
(
9%)
2%
17%Slide15
FINANCIAL
15
PERFORMANCE
EBITDA
Revenue (
Rm
)
EBITDA %
12%
9%
38%
*EBITDA excluding
loss
on
de-recognition
of
asset in 2HFY13Slide16
FINANCIAL
16
PERFORMANCE
HEADLINE EARNINGS PER SHARE (CPS)
(
21.1)
19.4Slide17
FINANCIAL
17
PERFORMANCE
GROUP NET DEBT (
Rm
)
Net debt
1 Apr 2013
C
ash
from operations
Foreign exchange losses
Tax
Capital
additions
Other net investing activities
Net debt
30 Sept 2013Slide18
FINANCIAL
18
PERFORMANCE
PROPERTY, PLANT AND EQUIPMENT
(
Rm
)
1HFY14
FY13
Stripping costs
155.9
109.9
Boxcut
development
32.3
85.2
Mine development
260.2
253.1
Plant
and equipment
184.3
195.0
Mine infrastructure
88.9
92.5Slide19
MANDI GLAD
19
CHIEF EXECUTIVE OFFICERSlide20
LOOKING
20
AHEAD
Pursue
long term
strategy of producing 5Mtpa
Product mix
diversification
Continue to
optimise
operations
Maximise
cash generation
Advance
project pipeline
Close
acquisition
of
Xceed
Prudent financial management
Convince
a sceptical market of our sustainability and worthSlide21
DISCLAIMER
Opinions expressed herein are by nature subjective to known and unknown risks and uncertainties. Changing information or circumstances may cause the actual results, plans and objectives of Keaton Energy Holdings Ltd (the “Company”) to differ materially from those expressed or implied in the forward looking statements. Financial forecasts and data given herein are estimates based on the reports prepared by experts who in turn relied on management estimates. Undue reliance should not be placed on such opinions, forecasts or data. No representation is made as to the completeness or correctness of the opinions, forecasts or data contained herein. Neither the Company, nor any of its affiliates, advisors or representatives accepts any responsibility for any loss arising from the use of any opinion expressed or forecast or data herein. Forward-looking statements apply only as of the date on which they are made and the Company does not undertake any obligation to publicly update or revise any of its opinions or forward looking statements whether to reflect new data or future events or circumstances
.
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