12
GEO ENERGY RESOURCES LIMITED
| Annual Report 2014
FINANCIAL AND
OPERATIONS REVIEW
As part of the Group’s strategy to increase coal production and expand operations, we utilised
the portion of IPO proceeds allocated to equipment acquisition, and also the proceeds
from the Medium Term Notes issued during the year. As stated in the Group’s 3Q2014 results
announcement on 13 November 2014, the Group’s IPO proceeds had been fully utilised. As at 31
December 2014, the Group owns and operates a comprehensive and diverse mining fleet of 215
units of equipment, after the disposal of some equipment during the year.
Revenue Breakdown
(US$’million)
100
80
60
40
20
0
Coal Cooperation Contracts BEK Mine
Mining Services and Others
FY2012 FY2013
FY2014
3.3
26.3
23.4
46.6
78.8
108.6
53.1
27.4
4.8
34.8
42.9
30.9
Coal Trading
Coal Sales and Trading Volume
(‘000 tonnes)
2,000
1,000
0
FY2012 FY2013 FY2014
645
945
1,261
579
132
415
42.9
Financial & Operational Review
