Molibdenos y Metales S A : Quarterly Reporting Document
June 02, 2023 at 02:43 pm EDT
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RESULTS
FIRST QUARTER 2023
M A Y 2 0 2 3
R E S U L T S Q 1 2 0 2 3
F i n a n c i al
p e r f o r m a n ce
Q1 2023
REVENUE (MM US$)
As of March 2023, Molymet sold 27.60
+53%
694.03
million pounds of molybdenum products,
compared to the 28,00 million pounds sold
453.58
by December 2021.
Q1 2022
Q1 2023
EBITDA (MM US$)
NET PROFIT (MM US$)
+44% 35.36
24.48
Q1 2022
Q1 2023
NET DEBT (MM US$)
F I N A N C I A L P E R F O R M A N C E
By the end of March 2023, Net profit was higher compared to same period of last year, due to the higher gross profit.
As of March 2023, net debt was US$ 742
EBITDA increased compared to Q1 2022,
+23%
which is mainly due to higher
61.83
commercialization margins.
50.46
+146%
301.96
741.65
million, equivalent to a Net Debt/EBITDA ratio of 3.76x. This increase occurred as a result of the rise in the price of molybdenum in the first quarter. It is expected that in the medium term this value will return to
Q1 2022
Q1 2023
Q1 2022
Q1 2023
historical levels.
R E S U L T S Q 1 2 0 2 3
As of March 2023, EBITDA reached US$ 61,83 million, an increase of
22,53% compared to the EBITDA of
March 2022, which was
US$ 50,46 million.
This increase was mainly due to higher commercialization margins.
EBITDA COMPOSITION VARIATION (MM US$)
EBITDA COMPOSITION Q1 2023
10.65%
13.98%
75.36%
Tolling
Own Sales
By-Products
F I N A N C I A L P E R F O R M A N C E
As of March 2023
Revenue (USD MM)
694,03
Net Profit (USD MM)
35,36
EBITDA (USD MM)
61,83
Equity (USD MM)
869,99
Liquidity (USD MM)
122,78
Net Debt (USD MM)
741,65
Assets (USD MM)
2.375,80
2.21
10.55
52,67
63,22
61.83
50.46
50,46
-1.39
Q1 2022
Tolling
Own Sales
Byproducts
Q1 2023
CAPEX (USD MM)
7,77
R E S U L T S Q 1 2 0 2 3
FINANCIAL DEBT MATURITY PROFILE
As of March 2023 (MM US$)
495
450
405
360
315
270
225
435.0
180
135
90
170.6
120.9
45
80.8
0.5
0.5
0.5
-
2023
2024
2025
2027
2028
Bank Loans
Bonds
PAE
F I N A N C I A L P E R F O R M A N C E
MAIN RATIOS
As of March 2023
Index
December 2022
March 2023
Variation
Dec. 2022/Mar. 2023
Net Debt / EBITDA
1.63
3.76
↑
Debt ratio 1
1.33
1.73
30.08%
Short-Term Liabilities
54.67%
64.76%
18.46%
Long-Term Liabilities
45.33%
35.24%
-22.26%
EBITDA / Financial
7.50
5.79
-22.80%
Expenses 2
Current Liquidity 3
2.23
1.80
-19.28%
Acid ratio 4
0.68
0.58
-14.71%
1 Corresponds to total liabilities divided by total equity. 2 Corresponds to EBITDA divided by financial expenses.
3 Corresponds to total current assets divided by total current liabilities. 4 Corresponds to total current assets, less current inventories, divided by total current liabilities.
M O L Y B D E N U M P R I C E E V O L U T I O N
R E S U L T S Q 1 2 0 2 3
M o l y b d e n um
pr i c e e v o l u t i o n
The international price of molybdenum oxide varied from US$ 19.07 per pound as of March 2022 to US$ 32.95 per pound as of March 2023, an increase of
72.78%.
Year
2014
2015
Mo AVERAGE MONTHLY PRICES
2016
(US$/Lb)
40
2017
35
2018
30
/ LB
25
2019
20
US$
2020
15
10
2021
5
2022
0
-Jun15
-Sep15
-Dec15
-Mar16
-Jun16
-Sep16
-Dec16
-Mar17
-Jun17
-Sep17
-Dec17
-Mar18
-Jun18
-Sep18
-Dec18
-Mar19
-Jun19
-Sep19
-Dec19
-Mar20
-Jun20
-Sep20
-Dec20
-Mar21
-Jun21
-Sep21
-Dec21
-Mar22
-Jun22
-Sep22
-Dec22
-Mar23
-Mar15
Q1 2023
Average Price
(US$/Lb)
11.39
6.65
6.48
8.21
11.94
11.35
8.69
15.85
18.77
32.95
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MOLYMET - Molibdenos y Metales SA published this content on 31 May 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 June 2023 18:42:03 UTC.
Molibdenos y Metales SA is a Chile-based holding company engaged in the treatment and processing of molybdenum and related products, which are used in a range of industrial activities. The Company offers Molybdenum- and Rhenium-based products to different industries, such as the iron and steel industry, the chemical industry, the metal/superalloy industry and others. The company has five industrial plants: MolymetNos (Santiago de Chile) and Molynor (Mejillones in northern Chile); Molymex (Sonora State in Mexico); CM Chemiemetall (Bitterfeld in Germany) and Sadaci (in the Port of Ghent, in Belgium). It also has business offices in London, Baltimore and Beijing. The Companyâs products include Technical Molybdic Oxide-Powder, Technical Molybdic Oxide-Briquettes and Ferromolybdenum, among others. The Companyâs subsidiaries include Molymet, Molymex SA de CV, Sadaci NV, CM Chemiemetall GmbH, Complejo Industrial Molynor SA and Luoyang High Tech Molybdenum & Tungsten Co Ltd.
MOLIBDENOS Y METALES S.A. 