OM Holdings Announces 10.2% Increase in NPAT
Final dividend of A$0.015 per share declared for FY2022
Highlights
- Net profit after tax attributable to owners for FY2022 increased by 10.2% to US$67.8 million compared to US$61.5 million for FY2021
- US$856.6 million in revenue from operating activities representing a 9.8% increase compared to FY2021
- Earnings per share of 9.21 cents for FY2022 compared to 8.35 cents for FY2021
- Dividends declared of A$0.015 per share for FY2022
27 FEBRUARY 2023 – OM Holdings Limited (“OMH” or the “Group”), a vertically integrated manganese ore and ferroalloy producer, today announced its financial results for the year ended 31 December 2022 (“FY2022”). The Group’s revenue from operating activities increased 9.8% to US$856.6 million as compared to US$779.9 million in the previous financial year (“FY2021”), attributed to higher average selling prices of ore and alloys and an increase in traded volume for ferrosilicon (“FeSi”), offset by a reduction in the volume of ores and manganese alloys traded in FY2022.
Earnings before interest, tax, depreciation, and amortization (“EBITDA”) for FY2022 rose 6.7% to US$163.0 million against US$152.8 million recorded in FY2021 with stronger ferroalloy prices in the first half of 2022, despite lower total product volumes traded. This also translated to a 10.2% increase in net profit after tax attributable to owners (“NPAT”) of US$67.8 million compared to US$61.5 million recorded in FY2021. The Group’s basic and diluted earnings per share stood at 9.21 cents for the period under review as compared to 8.35 cents for FY2021.
In line with the Group’s commitment to deliver value to shareholders, and to maintain a balance between meeting shareholders’ expectations and the growth of the Company, the Board has resolved to declare a final dividend of A$0.015 per share for FY2022. The Record Date for the dividend will be on 5 May 2023 and the Payment Date will be on 26 May 2023. For shareholders whose shares are held on Bursa Malaysia Securities Berhad, the final dividend of A$0.015 per share (approximately MYR0.045 per share) will be paid on the same Payment Date, with the exchange rate between AUD and MYR to be fixed at the Record Date of 5 May 2023. All other shareholders will be paid in AUD.
Executive Chairman and Chief Executive Officer of OMH, Mr. Low Ngee Tong, said, “We are pleased with the improvement in our overall financial performance in 2022, despite markets coming off in the second half of 2022. As we progress with our major maintenance and conversion program at our Sarawak Plant, we strive to deliver stable margins and grow as a sustainable ferroalloy producer to the world’s steelmakers. We also look to continue optimizing our capital structure by balancing total debt and sustainable dividends.”
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This media release is to be read in conjunction with the Group’s announcement on 2022 Full Year Result posted on the ASX website on 27 February 2022.
ABOUT OM HOLDINGS LIMITED
OM Holdings Limited (“OMH” or the “Company”) is a manganese and silicon smelting company, with vertical exposure in mining and trading. We are engaged in the business of trading raw ores, smelting, and marketing of processed ferroalloys. With over 25 years in the industry, OMH is listed on both the ASX and Bursa Malaysia and has operations across Australia, China, Malaysia, Singapore, and South Africa. Today, the Group is one of the region’s largest producers of ferroalloys and seeks to be the main ferroalloy supply partner to major steel mills and other industries.
For more information, visit https://www.omholdingsltd.com/