Iluka Resources (ILU) Interim Financial Results

Bell Potter

Stockbroker

Iluka's total sales volume was down 12.7% to 435.4kt and the total production was down 1.4% to 472kt. Group EBITDA was up 1.1% to $127.2m and group EBITDA margin 32.7% vs 33% in pcp. Net Debt of $80.2m as compared to 155.2m in 1H14 and gearing (ND/ND+E) of 5.4%. Their outlook: “Overall production is expected to be second half weighted..” Iluka’s balance sheet remains strong, both absolutely and relative to many players in the resources sector, with low net debt and significant funding headroom. This enables Iluka to continue to invest in its business and to consider external investments in a counter cyclical manner where financial merit and strategic rationale are evident. The company has also continued to work towards the satisfaction of pre-conditions to its potential acquisition of Kenmare Resources Plc.” Read our full summary here: (VIEW LINK)


1 topic

1 stock mentioned

Bell Potter Securities is a leading Australian stockbroking, investment and financial advisory firm that provides a comprehensive offering of financial services to a diversified client base that includes individuals, institutions and corporations.

I would like to

Only to be used for sending genuine email enquiries to the Contributor. Livewire Markets Pty Ltd reserves its right to take any legal or other appropriate action in relation to misuse of this service.

Personal Information Collection Statement
Your personal information will be passed to the Contributor and/or its authorised service provider to assist the Contributor to contact you about your investment enquiry. They are required not to use your information for any other purpose. Our privacy policy explains how we store personal information and how you may access, correct or complain about the handling of personal information.