Ohmyhome (US:OMH)2025-09-02 02:32Financial Data and Key Metrics Changes - The company reported a revenue driven by higher traded volumes and average selling prices, but faced a loss after tax due to industry-wide margin compression, particularly in ferrosilicon prices [7][8] - EBITDA for the first half of 2025 was approximately USD 19.1 million, a significant decrease from USD 46.6 million in the same period of 2024 [7][12] - The loss per share for 2025 was recorded at 1.25 US cents [8] Business Line Data and Key Metrics Changes - Manganese ore remains a core product, with the company procuring for internal consumption and external sales, primarily to China [5] - Ferrosilicon prices have been on a downward trend since December 2024, with a year-on-year decrease of approximately 10.4% [9] - Silicon manganese prices have remained stable, supported by stable manganese ore prices [10] Market Data and Key Metrics Changes - The ferrosilicon market is under pressure due to increased competition from Russian materials and weaker downstream demand [8][9] - The company expects manganese alloy prices to remain firm throughout the rest of 2025 and into early 2026 [10] Company Strategy and Development Direction - The company focuses on sustainability initiatives, including repurposing byproducts to support a circular economy [14] - The company aims to maintain its position as a low-cost producer and leverage its access to renewable energy [16][17] - Strategic initiatives include continuous assessment of production returns and securing supply well in advance [17] Management's Comments on Operating Environment and Future Outlook - Management noted that operational stability and cash flow reflect the company's ability to sustain during cyclical lows [12] - The company is awaiting further details on the upcoming carbon tax in Malaysia, which may impact the ferroalloy sector [18] Other Important Information - The Butu Creek manganese mine in Australia remains under care and maintenance, focusing on rehabilitation [10] - The company has successfully refinanced its project finance loans, contributing to a decline in the gearing ratio [12] Q&A Session Summary Question: Will the carbon tax in Malaysia impact the ferroalloy sector? - Management indicated that the carbon tax will be introduced in 2026, and further details are awaited to assess its impact on operations [18] Question: What are the tariffs on exports of ferrosilicon and manganese alloys to the US? - The US does not apply reciprocal tariffs on manganese alloys, while ferrosilicon is subject to a 19% tariff for Malaysia, compared to 50% for Brazil and India [20][21] Question: Has the company implemented any hedging policy on ferroalloy prices? - Currently, the company does not have any hedging policies on ferroalloy prices due to the lack of an international futures market [24] Question: How much does the manganese supply from Chippy and Briar contribute? - Chippy's manganese ore supply is primarily traded and exported to China, with an annual traded volume of approximately 420,000 to 460,000 tons, while Briar is still under exploration with no current production [26][28]