For the six months ended 30 June 2016
Financial Highlights
• Group tonnage of 112 million tonnes
• T otal committed and uncommitted bank facilities of US$11.1 billion
• Adjusted operating income from supply chains of US$476 million
• Liquidity headroom of US$0.8 billion
• Adjusted net profit of US$38 million
• Net debt/Capitalisation of 53.7%
• Net asset backing per share of US$0.52 (S$0.70)
• Shareholders’ equity of US$3.4 billion
Income Statement (US$ million)
Balance Sheet (US$ million)
Six months Six months
ended
ended
30 Jun 16
30 Jun 15
30 Jun 16 31 Dec 15
(restated)
%
Change
Curre nt asse ts
12,260.2
14,595.8
918.6
1,953.3
T rade receivables
2,925.1
2,434.1
Prepayments, deposits and other receivables
1,070.6
1,166.1
Fair value gains on commodity and other
derivative financial instruments
4,116.0
6,205.0
Inventories
1,603.9
1,791.5
146.2
92.2
Assets in subsidiaries and associates
classified as held for sale
1,479.8
953.6
Non-curre nt asse ts
2,215.8
2,456.2
Property, plant and equipment
807.8
833.2
Interests in associates
496.3
502.3
Others
911.7
1,120.7
Cash and cash equivalents
Revenue
23,847.0
34,997.6
-32%
Operating income from supply chains
426.2
747.0
-43%
Operating income margin
1.79%
2.13%
Adjusted operating income
from supply chains
476.3
765.5
Adjusted operating income margin
2.06%
2.35%
Losses on supply chain assets
(33.4)
(27.9)
20%
T otal operating income
364.7
576.9
-37%
Adjusted total operating income
411.0
703.0
-42%
Net profit/(loss)
(14.4)
169.2
N/A
Curre nt liabilitie s
8,320.7
10,319.7
38.3
331.4
-88%
T rade and other payables and accrued liabilities
3,372.6
4,726.9
Fair value losses on commodity and other
derivative financial instruments
1,912.5
3,026.7
Bank debts
2,272.4
2,127.8
Adjusted net profit
Basic EPS (US dollars)
(0.0041)
0.0239
Fully diluted EPS (US dollars)
(0.0041)
0.0239
-38%
T ax recoverable
Senior notes
Book NAV/share (US dollars)
0.52
0.77
T ax payable
Book NAV/share (Singapore dollars)
0.70
1.04
Liabilities in subsidiaries
classified as held for sale
16.5
7.5
682.3
6.2
64.4
64.4
Non-curre nt liabilitie s
2,770.2
3,434.4
Long term bank debts
1,188.3
1,846.2
1,554.9
1,586.9
27.0
1.3
5.7
5.8
3,379.4
3,292.1
Liabilities related to held for sale subsidiaries
Selected Financial Ratios (Annualised basis) #
30 Jun 16 31 Dec 15
T rade receivables turnover (days)
21
17
Senior notes
Inventories turnover (days)
12
12
Deferred tax liabilities
T rade payables turnover (days)
20
23
Non-controlling inte re sts
Net debt/Capitalisation
53.7%
54.7%
360.2
Share holde rs’ e quity
# a nnua lis e d o n c urre nt qua rte r ba s is
Share Information (as at 10 August 2016)
Market capitalization: S$1,934 million (equiv. US$1,442 million)
Closing price: S$0.148
Number of shares issued (excluding treasury shares): 13,071 million shares
Highest/ Lowest price for last six months: (S$) 0.370/0.132
Average daily turnover for last six months: 99.8 million shares
Debt rating: Fitch BB+ / Moody’s Ba3/ S&P B+
Head Office
Noble Group Limited
18th Floor, MassMutual Tower
38 Gloucester Road, Hong Kong
Tel: +852 2861 3511
Fax: +852 2527 0282
www.thisisnoble.com
Investor Relations
Ms. Chelsea Phua
Bell Pottinger
Tel: +65 6333 3449
CPhua@bellpottinger.com
Media
Ms. Candice Adam
Argentus PR
Tel: +44 20 7397 2915
candice.adam@argentuspr.com
Mr. Martin Debelle
Citadel-MAGNUS
Tel: +61 2 8234 0100
mdebelle@citadelmagnus.com