Mewah Group

Financial Highlight

BALANCE SHEET

In US$ millions	FY 2011	FY 2012	FY 2013	Nine Months 2014
Long-term investments	305	357	366	402

Working capital	482	538	393	436

Cash (IPO proceeds)	58	0	0	0

Total Investments	845	895	759	838

Equity	538	560	557	541

Gross debt	386	384	265	348

Cash excluding IPO Proceeds	-79	-84	-63	-51

Adj Net Debt	307	335	202	297

Total Capital	845	895	759	838

INCOME STATEMENT

In US$ millions, unless stated otherwise	FY 2011	FY 2012	FY 2013	Nine Months 2014
Sales volume (Thousand MT)	3,650	3,401	3,733	2,949

Sales revenue	4,468	3,621	3,194	2,610

Operating margin	118	108	115	63

Operating margin: US$ per MT	33	32	31	21

Net profit excluding exceptional gains	40	20	21	-6

Exceptional items	2	5	0	0

Net profit - reported	42	25	21	-6

STATEMENT OF CASH FLOWS

In US$ millions	FY 2011	FY 2012	FY 2013	Nine Months 2014
Net cash flows from/(used in) operating activities	-29	-15	188	-41

Net cash flows used in investing activities	-104	-63	-55	-45

Net cash flows (used in)/ from financing activities	55	-11	-121	74

Net change in cash and cash equivalents	-78	-89	12	-12

Cash and cash equivalents at beginning of the financial year	215	137	49	60

Effect of changes in exchange rate on cash and cash equivalents	0	1	-1	0

Cash and cash equivalents at end of the financial year	137	49	60	48

FINANCIAL RATIOS

	FY 2011	FY 2012	FY 2013	Nine Months 2014
Earnings per share (US cents)	2.80	1.64	1.39	-0.40

Net asset value per share (US cents)	35.82	37.38	37.25	36.19

Debt: equity	0.72	0.69	0.48	0.64

Net debt: equity	0.46	0.60	0.36	0.55

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