Financial Performance - For the year ended December 31, 2022, Mongolian Mining Corporation reported total revenue of approximately $546.2 million, an increase of 196.8% compared to $184.1 million for the year ended December 31, 2021[2]. - Adjusted EBITDA for the year ended December 31, 2022, was approximately $132.3 million, representing a 247.2% increase from approximately $38.1 million for the year ended December 31, 2021[2]. - The net profit attributable to equity holders of the company for the year ended December 31, 2022, was $59.2 million, compared to a net loss of $55.2 million for the year ended December 31, 2021[2]. - Basic and diluted earnings per share for the year ended December 31, 2022, were 5.68 cents, compared to a loss of 5.35 cents per share for the year ended December 31, 2021[3]. - The total comprehensive income for the year ended December 31, 2022, was $37.165 million, compared to $7.641 million for the year ended December 31, 2021[5]. - The pre-tax profit for the year ended December 31, 2022, was $54,708,000, compared to a loss of $60,451,000 in 2021[38]. - The group reported a profit attributable to equity holders of approximately $59.2 million for the year ended December 31, 2022, compared to a loss of $55.2 million in 2021[125]. Revenue and Sales - The group's revenue for the year ended December 31, 2022, was $546,248,000, a significant increase from $184,069,000 in 2021, representing a growth of approximately 196%[28]. - The revenue from hard coking coal sales was $508,355,000 in 2022, compared to $174,175,000 in 2021, indicating a growth of about 192%[29]. - The revenue generated through agency sales arrangements amounted to approximately $43,535,000 in 2022, down from $75,516,000 in 2021[28]. - The company’s total revenue for the reporting year increased by 197%, reaching $546.2 million from approximately 4.7 million tons of coal sold[108]. Costs and Expenses - The cost of revenue for the year 2022 was $451,131,000, up from $161,490,000 in 2021, reflecting an increase of approximately 179%[30]. - The mining costs for the year 2022 were $147,846,000, which is a significant rise from $42,475,000 in 2021, marking an increase of around 248%[30]. - The processing costs for the year 2022 were $43,734,000, compared to $11,950,000 in 2021, representing an increase of about 265%[30]. - The transportation costs for 2022 were $100,942,000, significantly higher than $43,138,000 in 2021, indicating an increase of approximately 134%[30]. - The total cost of revenue for the year ended December 31, 2022, was $451.1 million, compared to $161.5 million in 2021, representing a significant increase[111]. Assets and Liabilities - Total non-current assets as of December 31, 2022, amounted to $1,560.862 million, a slight decrease from $1,594.018 million as of December 31, 2021[6]. - Current assets totaled $259.646 million as of December 31, 2022, down from $285.120 million as of December 31, 2021[6]. - The total equity attributable to equity holders of the company was $872.556 million as of December 31, 2022, compared to $829.823 million as of December 31, 2021[9]. - Total liabilities decreased to $1,492.220 million as of December 31, 2022, from $1,544.020 million as of December 31, 2021[8]. - As of December 31, 2022, the group recorded a net current liability of $68,642,000[14]. Cash Flow and Financial Position - The group expects to maintain sufficient financial resources to cover operational costs and financing obligations due within the next twelve months[14]. - The group obtained a total of $38,700,000 in standby credit from local banks in Mongolia to enhance cash preservation and efficiency[14]. - The group's cash and cash equivalents increased to $64.7 million as of December 31, 2022, from $25.9 million at the beginning of the year[126]. - The capital debt ratio as of December 31, 2022, was 20.5%, down from 24.1% as of December 31, 2021[127]. Operational Highlights - The group processed a total of 6.6 million tons of raw coking coal in 2022, producing 3.0 million tons of washed coking coal and 1.2 million tons of washed thermal coal[97]. - The total raw coal production for the group in 2022 was 5.7 million tons, with 5.3 million tons from the UHG mine and 0.4 million tons from the BN mine[95]. - The actual stripping ratio for the UHG mine was 5.3 cubic meters of overburden per ton of raw coal, while for the BN mine it was 8.1 cubic meters per ton[95]. - The group removed a total of 27.9 million cubic meters of overburden during the reporting year[95]. Employee and Training - Employee costs increased to $30,216,000 in 2022 from $23,281,000 in 2021, reflecting a rise of approximately 29%[33]. - A total of 5,932 employees participated in various professional training programs, with 4,925 employees receiving occupational, health, and safety training[136]. - Approximately 29% of the company's employees are local residents from the Umnugobi province, complying with the requirement to employ at least 5% local citizens in mining activities[78]. Regulatory and Compliance - The company adopted the corporate governance code as per the listing rules, ensuring compliance with all applicable provisions[137]. - The audit committee reviewed the company's annual performance for the year ended December 31, 2022[140]. - The Mongolian government approved the amendment of the Mining Law and the Budget Law on November 11, 2022, which includes provisions for local development funds from mining companies' donations[73]. Environmental and Safety - The company has no recorded environmental incidents rated "high" or above in 2022, with only a low-level oil spill incident occurring[104]. - The group recorded three lost time injuries in 2022, resulting in a lost time injury frequency of 0.43 per million hours worked[103]. - The company provided 12,434 personal training sessions totaling 61,847 work hours in occupational health and safety training in 2022[104].
MONGOL MINING(00975) - 2022 - 年度业绩