GEO ENERGY RESOURCES LIMITED
| Annual Report 2014
11
FY2014 Financial & Operational Review
The challenging market conditions have weighed on our financial performance. The Group’s
revenue was halved from US$108.6 million in FY2013 to US$53.1 million in FY2014, mainly due to
the following factors:
(i) Downward trend in coal price and softer demand for coal with low calorific value; as a result,
our coal revenue decreased by US$48.0 million;
(ii) Decrease in revenue of US$7.5 million from mining services and equipment rental.
* Define as the sum of indebtedness to financial institutions, convertible loans and MediumTerm Notes divided by total equity
** Based on share capital of 1,157,050,891 ordinary shares as at 31 December 2014
Three-Year Financial Snapshot
(US$’million)
FY2012
FY2013
FY2014
Revenue
78.8
108.6
53.1
Gross Profit
36.2
30.5
(2.4)
Net Profit
19.2
13.0
(12.8)
Current Assets
78.4
84.7
79.9
Non-Current Assets
76.6
76.8
131.7
Total Assets
155.0
161.5
211.6
Current Liabilities
19.0
21.8
23.5
Non-Current Liabilities
12.3
17.4
80.1
Total Equity
123.7
122.3
108.0
Cash & Cash Equivalents
69.1
17.8
13.3
Debt to Equity Ratio*
0.1
0.2
0.8
Net Asset Value per Share (US cents)**
10.7
10.6
9.3
Diluted Earnings per Share (US cents)**
1.7
1.1
(1.1)
Return on Equity
15.5%
10.7%
(11.8%)
Return on Total Assets
12.4%
8.1%
(6.0%)
FINANCIAL AND
OPERATIONS REVIEW
