For the three months ended 31 March 2016
Financial Highlights
• Group tonnage of 57 million tonnes
• T otal committed and uncommitted bank facilities of US$13.1 billion
• Operating income from supply chains of US$250 million
• Liquidity headroom of US$1.9 billion
• Net profit of US$41 million
• Net debt/Capitalisation of 52.0%
• Net asset backing per share of US$0.52 (S$0.7)
• Shareholders’ equity of US$3.4 billion
Income Statement (US$ million)
Balance Sheet (US$ million)
T hree
T hree
months
months
ended
ended
31 Mar 16 31 Mar 15
Revenue
31 Mar 16 31 Dec 15
(restated)
%
Change
Curre nt asse ts
12,363.5
14,595.8
Cash and cash equivalents
1,352.6
1,953.3
T rade receivables
2,567.0
2,434.1
Prepayments, deposits and other receivables
1,206.0
1,166.1
Fair value gains on commodity and other
derivative financial instruments
5,402.3
6,205.0
Inventories
1,486.8
1,791.5
11,393.2
16,640.6
-32%
Operating income from supply chains
249.6
418.1
-40%
Operating income margin
2.19%
2.51%
Losses on supply chain assets
(16.1)
(23.5)
-31%
T ax recoverable
135.2
92.2
T otal operating income
222.8
323.0
-31%
Assets in subsidiaries and associates
classified as held for sale
213.6
953.6
40.5
106.6
2,433.3
2,456.2
Property, plant and equipment
813.3
833.2
Basic EPS (US dollars)
0.0054
0.0154
Interests in associates
484.8
502.3
Fully diluted EPS (US dollars)
0.0054
0.0154
Others
1,135.2
1,120.7
Book NAV/share (US dollars)
0.52
0.76
Curre nt liabilitie s
7,977.4
10,319.7
T rade and other payables and accrued liabilities
3,456.0
4,726.9
Book NAV/share (Singapore dollars)
0.70
1.05
Fair value losses on commodity and other
derivative financial instruments
2,784.4
3,026.7
Bank debts
1,546.6
2,127.8
Senior notes
99.7
360.2
T ax payable
16.5
7.5
9.8
6.2
64.4
64.4
Non-curre nt liabilitie s
3,414.4
3,434.4
Long term bank debts
1,838.8
1,846.2
Senior notes
1,554.7
1,586.9
20.9
1.3
5.8
5.8
3,399.2
3,292.1
Net profit
Non-curre nt asse ts
Selected Financial Ratios (Annualised basis) #
31 Mar 16 31 Dec 15
T rade receivables turnover (days)
21
17
Inventories turnover (days)
12
12
T rade payables turnover (days)
22
23
Net debt/Capitalisation
52.0%
54.7%
Liabilities in subsidiaries
classified as held for sale
Liabilities related to held for sale subsidiaries
# a nnua lis e d o n c urre nt qua rte r ba s is
Deferred tax liabilities
Non-controlling inte re sts
Share holde rs’ e quity
Share Information (as at 11 May 2016)
Market capitalization: S$2,287 million (equiv. US$1,670 million)
Closing price: S$0.350
Number of shares issued (excluding treasury shares): 6,535 million shares
Highest/ Lowest price for last six months: (S$) 0.500/0.270
Average daily turnover for last six months: 57.0 million shares
Debt rating: Fitch BBB- / Moody’s Ba3/ S&P BB-
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