Summary of financial history
Alumina Limited and controlled entities
| As at 31 December ($USM)1 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 |
|---|
| Revenue from continuing operations |
2.5
|
1.6
|
0.6
|
0.6
|
0.1
|
0.1
|
0.3
|
0.1 |
0.2 |
1.4 |
| Other income |
- |
- |
- |
- |
- |
3.1 |
140.1 |
0.6 |
0.1 |
2.1 |
| Share of net profits of associates accounted for using the equity method |
232.0 |
653.5 |
360.4 |
18.1 |
109.9 |
(73.6) |
(97.4) |
(14.0) |
173.1 |
84.5 |
| Finance costs |
(7.3) |
(6.7) |
(8.3) |
(9.1) |
(6.6) |
(13.6) |
(25.3) |
(29.4) |
(28.5) |
(38.7) |
| General and administrative expenses |
(12.1) |
(11.6) |
(13.6) |
(25.7) |
(11.9) |
(13.5) |
(17.2) |
(19.0) |
(17.3) |
(14.7) |
| Income tax credit/(expenses) |
(0.1) |
- |
- |
- |
- |
(0.8) |
- |
(0.4) |
(1.0) |
- |
| Net profit attributable to members of Alumina Limited |
214.0 |
635.4 |
339.8 |
(30.2) |
88.3 |
(98.3) |
0.5 |
(62.1) |
126.6 |
34.6 |
| Total assets |
1,853.8 |
2,245.1 |
2,342.9 |
2,117.8 |
2,110.7 |
2,543.2 |
2,964.0 |
3,311.4 |
3,350.4 |
3,542.5 |
| Total liabilities |
71.7
|
109.3
|
108.9
|
110.9
|
127.8 |
119.2 |
170.6 |
682.9 |
496.4 |
471.0 |
| Net assets |
1,782.1 |
2,135.8 |
2,234.0 |
2,006.9 |
1,982.9 |
2,424.0 |
2,793.4 |
2,628.5 |
2,854.0 |
3,071.5 |
| Shareholders' funds |
1,782.1 |
2,135.8 |
2,234.0 |
2,006.9 |
1,982.9 |
2,424.0 |
2,793.4 |
2,628.5 |
2,854.0 |
3,071.5 |
| Dividends provided for or paid |
532.8 |
515.5 |
210.2 |
135.3 |
171.2 |
- |
- |
73.2
|
170.8 |
91.6 |
| Dividends received from AWAC |
381.7 |
657.2 |
278.1 |
150.2 |
61.4 |
16.0 |
100.0 |
86.0 |
232.2 |
234.4 |
| Statistics | | | | | | | | | | |
|---|
| Dividends declared (US cents) per ordinary share |
US8.0c |
US22.7c |
US13.5c |
US6.0c |
US6.3c |
US1.6c |
- |
- |
US 6c |
US 6c |
| Dividend payout ratio (Cash dividends) |
249% |
81% |
62% |
- |
202% |
- |
- |
- |
136% |
271% |
| Earnings per ordinary share (US cents) |
7.4 |
22.1 |
11.8 |
(1.0) |
3.9 |
(3.5) |
0.02 |
(2.5) |
5.2c |
1.4c |
| Return on equity2 |
11.0% |
30.3% |
15.8% |
(1.5)% |
3.9% |
(3.5)% |
0.02% |
Negative 2.2% |
4.1% |
1.2% |
| Gearing (net debt to equity) |
3.0% |
(4.3)% |
2.5% |
4.0% |
4.8% |
3.4% |
4.6% |
20.1% |
14.1% |
10% |
| Net tangible assets backing per share |
$0.53 |
$0.66 |
$0.69 |
$0.61 |
$0.60 |
$0.77 |
$0.91 |
$0.97 |
$1.05 |
$1.15 |
| Total shareholder return |
15.5% |
7.7% |
41.8% |
69.2% |
(30.2%) |
|
|
|
|
|
1 Alumina Limited's functional and presentation currency is US dollars.
2 Based on net profit attributable to members of Alumina Limited.
2017 full year result
| Alumina Limited | 2017 |
|---|
| Net Profit After Tax US$ million |
339.8 |
| Net profit after tax excluding significant items |
363.1 |
| Cash received from AWAC |
279.3 |
| Contributions paid to AWAC |
(56.0) |
| Earnings per share US cents |
11.8 |
| Interim dividend US cents per share |
4.2 |
| Final dividend US cents per share |
9.3 |
| Net debt (US$m) |
(58.4) |
| Gearing |
2.5% |
| AWAC (100%) | |
|---|
| EBITDA US$m |
1,632.7 |
| EBITDA excluding significant items US$m |
1,701.1 |
| Alumina average realised price per US$/tonne |
335 |
| Alumina production ('000) |
12,100 |
| Aluminium production ('000) |
112 |
| Growth Capital expenditure (US$ million) |
45.6 |
| Sustaining Capex (US$ million) |
146.0 |
2017 half year result
| Alumina Limited | 1H17 | 1H16 |
|---|
| Net Profit After Tax US$ million |
136.6 |
7.8 |
| Net profit after tax excluding significant items |
148.7 |
12.7 |
| Cash received from AWAC |
155.2 |
83.7 |
| Contributions paid to AWAC |
(56.0) |
- |
| Net Receipts from AWAC |
99.2 |
83.7 |
| Earnings per share US cents |
4.7 |
0.3 |
| Interim dividend US cents per share |
4.2 |
2.9 |
| Net debt (US$m) |
90.2 |
83.8 |
| Gearing |
4.0% |
4.0% |
| AWAC (100%) | | |
|---|
| EBITDA US$m |
682.4 |
280.5 |
| EBITDA excluding significant items US$m |
715.7 |
275.3 |
| Alumina average realised price per US$/tonne |
315 |
234 |
| Alumina production ('000) |
6,100 |
6,300 |
| Aluminium production ('000) |
33 |
81 |
| Capital expenditure (US$ million) |
57.9 |
46.9 |
Refer to All Reports and Presentations for prior year results.
2012 full year result
| Alumina Limited | 2012 |
|---|
| Underlying (loss)/Earnings US$ million |
(62.0) |
| Net (loss)/Profit After Tax US$ million |
(55.6) |
| AWAC Dividends received US$ million |
86 |
| Final dividend per share |
Nil |
| Earnings per share cents 2012 |
(2.3c) |
| Underlying Earnings per share cents 2012 |
(2.5c) |
| 2012 Return on Equity |
(2.0)% |
| Net debt as at 31 December 2012 US$m |
664 |
| Gearing |
20.1% |
| AWAC (100%) | |
|---|
| |
|
| Alumina production ('000) |
15,600 |
| Aluminium production ('000) |
358 |
| Capital expenditure (US$ million) |
375.3 |
2012 half year result
| Alumina Limited | 1H12 | 1H11 |
|---|
| Underlying Earnings US$ million |
(8.2) |
77.7 |
| Net Profit After Tax US$ million |
(14.6) |
67.7 |
| Underlying earnings per share UScents |
(0.4c) |
3.2c |
| Interim dividend fully franked US cents |
Nil |
3 cents |
| Earnings per share US cents |
(0.6c) |
2.8c |
| Return on Equity (ROE) |
(1.0)% |
4.4% |
| ROE on underlying earnings |
(0.6)% |
5.1% |
| Net debt US$m |
602 |
418 |
| Gearing percentage |
18% |
11% |
| AWAC (100%) | | |
|---|
| Profit after tax (US$ million) |
(87.1) |
278.6 |
| Alumina production ('000) |
7,800 |
7,800 |
| Aluminium production ('000) |
178 |
177 |
| Capital expenditure (US$ million) |
184.2 |
133.5 |
2011 full year result
| Alumina Limited | 2011 | 2010 |
|---|
| Underlying Earnings US$ million |
128 |
36.7 |
| Net Profit After Tax US$ million |
126.6 |
34.6 |
| AWAC Dividends received US$ million |
232 |
234.4 |
| Final dividend per share franked to US$0.03 |
3 cents |
4 cents |
| Earnings per share cents 2011 |
5.2c |
1.4c |
| Underlying Earnings per share cents 2011 |
5.3c |
1.5c |
| 2011 Return on Equity |
4.1% |
1.2% |
| Net debt as at 31 December 2011 US$m |
472 |
353 |
| Gearing |
14.1% |
10.0% |
| AWAC (100%) | | |
|---|
| Profit after tax (US$ million) |
469.7 |
335.3 |
| Alumina production ('000) |
15,700 |
15,200 |
| Aluminium production ('000) |
357 |
356 |
| Capital expenditure (US$ million) |
392 |
298.4 |
2011 half year result
| Alumina Limited | 1H11 | H110 |
|---|
| Underlying Earnings US$ million |
77.7 |
22.2 |
| Net Profit After Tax US$ million |
67.7 |
44.2 |
| Underlying earnings per share UScents |
3.2c |
0.9c |
| Interim dividend fully franked US cents |
3 cents |
2 cents |
| Earnings per share US cents |
2.8c |
1.8c |
| Return on Equity (ROE) |
4.4% |
3.0% |
| ROE on underlying earnings |
5.1% |
1.5% |
| Net debt US$m |
418 |
321 |
| Gearing percentage |
11.3% |
9.5% |
| AWAC (100%) | | |
|---|
| Profit after tax (US$ million) |
278.6 |
125.4 |
| Alumina production ('000) |
7,800 |
7,400 |
| Aluminium production ('000) |
177 |
175 |
| Capital expenditure (US$ million) |
133.5 |
145.8 |
2010 full year result
| Alumina Limited | 2010 | 2009 |
|---|
| Underlying Earnings US$ million |
36.7 |
0.3 |
| Net Profit After Tax US$ million |
35.6 |
(23.7) |
| AWAC Dividends received US$ million |
234.4 |
135.6 |
| Final dividend per share franked to US$0.02 |
4 cents |
1.8 cents |
| Earnings per share cents 2010 |
1.4c |
(1.1c) |
| Underlying Earnings per share cents 2010 |
1.5c |
0 |
| 2010 Return on Equity |
1.2% |
(0.9%) |
| Net debt as at 31 December 2010 US$m |
353 |
307 |
| AWAC (100%) | | |
|---|
| Profit after tax (US$ million) |
335.3 |
106.4 |
| Alumina production ('000) |
15,200 |
13,500 |
| Aluminium production ('000) |
354 |
374 |
| Capital expenditure (US$ million) |
298.4 |
665.6 |
2009 full year result
| Alumina Limited | 2009 | 2008 |
|---|
| Underlying Earnings A$ million |
(2.2) |
201.6 |
| Net Profit After Tax A$ million |
(26) |
168 |
| AWAC Dividends received A$ million |
176 |
356 |
| Final dividend per share franked to A$0.02 |
2 cents |
Nil |
| Earnings per share cents 2009 |
(1.2) |
11.3 |
| Underlying Earnings per share cents 2009 |
(0.1) |
15.5 |
| 2009 Return on Equity |
(0.8%) |
8.5% |
| Net debt as at 31 December 2009 A$m |
342 |
1,044 |
| AWAC (100%) | | |
|---|
| Profit after tax (US$ million) |
106.4 |
592 |
| Alumina production ('000) |
13,500 |
14,400 |
| Aluminium production ('000) |
368 |
388 |
| Capital expenditure (US$ million) |
763 |
1,530.5 |
2009 half year result
| Alumina Limited | 1H09 | 1H08 |
|---|
| Net profit attributable to members ($ million) |
6 |
44 |
| Underlying earnings after tax ($ million) |
(15) |
152 |
| Interim dividend fully franked ($ million) |
Nil |
12 cents |
| Earnings per share (cents) |
0.3 |
3.11 |
| Return on equity |
0.4% |
5.2% |
| Return on equity underlying earnings |
(1.0%) |
17.9% |
1 Prior period EPS adjusted for rights issues
2008 full year result
| Alumina Limited | 2008 | 2007 |
|---|
| Net profit attributable to members of Alumina Limited ($ million) |
168 |
436.4 |
| Cash Dividends received from AWAC ($ million) |
356 |
444.9 |
| Dividends paid by Alumina Limited ($ million) |
273.8 |
275.6 |
| Final dividend per share franked to 7.5 cents |
Nil |
12 cents |
| Earnings per share cents for 2007 |
12.9 |
35.7 |
| Underlying earnings per share cents for 2007 |
15.5 |
33.2 |
| 2007 return on equity (ROE) |
8.5% |
25.5% |
| Borrowings as at 31 December 2007 (A$ million) |
1047.8 |
1006.4 |
| AWAC (100%) | | |
|---|
| Profit after tax (US$ million) |
592 |
953.3 |
| Alumina production ('000) |
14,400 |
14,300 |
| Aluminium production ('000) |
389 |
377 |
| 2007 return on capital (ROC) (%) |
|
|
| Capital expenditure (US$ million) |
1530.5 |
1235.7 |
2008 half year result
| Alumina Limited | 1H08 | 1H07 |
|---|
| Net profit attributable to members ($ million) |
44 |
284 |
| Underlying earnings after tax ($ million) |
152 |
271 |
| Interim dividend fully franked ($ million) |
12 cents |
12 cents |
| Earnings per share (cents) |
3.8 |
24.6 |
| Underlying earnings per share (cents) |
13.3 |
23.5 |
| Return on equity underlying earnings |
18% |
33% |
2007 full year result
| Alumina Limited | 2007 | 2006 |
|---|
| Net profit attributable to members of Alumina Limited ($ million) |
436.4 |
511 |
| Cash Dividends received from AWAC ($ million) |
444.9 |
521 |
| Dividends paid by Alumina Limited ($ million) |
275.6 |
233.2 |
| Final dividend per share franked to 7.5 cents |
12 cents |
12 cents |
| Earnings per share cents for 2007 |
35.7 |
43.8 |
| Underlying earnings per share cents for 2007 |
33.2 |
48.8 |
| 2007 return on equity (ROE) |
25.5% |
29.1% |
| Borrowings as at 31 December 2007 (A$ million) |
1006.4 |
588.1 |
| AWAC (100%) | | |
|---|
| Profit after tax (US$ million) |
953.3 |
1,121.9 |
| Alumina production ('000) |
14,300 |
14,300 |
| Aluminium production ('000) |
377 |
|
| 2007 return on capital (ROC) (%) |
|
26% |
| Capital expenditure (US$ million) |
1235.7 |
836 |
Market prices for 2007
| LME aluminium price (US$/lb) |
1.21 |
1.17 |
| US$/A$ exchange rate |
0.84 |
0.75 |
2006 full year result - NPAT $511m up 62%
| Alumina Limited | |
|---|
| Net profit attributable to members of Alumina Limited ($ million) |
511 |
| Cash Dividends received from AWAC ($ million) |
521 |
| Dividends paid by Alumina Limited ($ million) |
233.2 |
| Final dividend per share franked to 7.5 cents |
12 cents |
| Earnings per share cents for 2006 |
43.8 |
| Underlying earnings per share cents for 2006 |
48.8 |
| 2006 return on equity (ROE) |
29.1% |
| Borrowings as at 31 December 2007 (A$ million) |
588.1 |
| AWAC (100%) | |
|---|
| Profit after tax (US$ million) |
1,121.9 |
| Alumina production ('000) |
14,300 |
| Aluminium production ('000) |
|
| 2006 return on capital (ROC) (%) |
26% |
| Capital expenditure (US$ million) |
836 |
Market prices for 2007
| LME aluminium price (US$/lb) |
1.17 |
| US$/A$ exchange rate |
0.75 |
2005 full year result - NPAT $316m
| Alumina Limited | |
|---|
| Net profit attributable to members of Alumina Limited ($ million) |
315.16 |
| Cash Dividends received from AWAC ($ million) |
95.9 |
| Dividends paid by Alumina Limited ($ million) |
232.8 |
| Final dividend per share franked to 7.5 cents |
10 cents |
| Earnings per share cents for 2005 |
27.1 |
| Underlying earnings per share cents for 2005 |
28.4 |
| 2006 return on equity (ROE) |
20.6% |
| Borrowings as at 31 December 2005 (A$ million) |
478.7 |
| AWAC (100%) | |
|---|
| Profit after tax (US$ million) |
644.6 |
| Alumina production ('000) |
13,700 |
| Aluminium production ('000) |
377 |
| 2005 return on capital (ROC) (%) |
19.1% |
| Capital expenditure (US$ million) |
608 |
Market prices for 2005
| LME aluminium price (US$/lb) |
0.86 |
| US$/A$ exchange rate |
0.76 |
2005 half year result - first half profit in line - AWAC advances expansion projects
| Alumina Limited | |
|---|
| Net profit attributable to members of Alumina Limited ($ million) |
163.3 |
| Interim dividend (franking to be advised) |
10 cents |
| Dividends received from AWAC ($ million) |
94.2 |
| Earnings per share cents for first six months |
14 cents |
| Return on equity (annualised) |
23% |
| Net profit attributable to members of Alumina Limited ($ million) |
168.0 |
| Interim fully franked dividend |
10 cents |
| Dividends received from AWAC ($ million) |
110.4 |
| Earnings per share cents for first six months |
14.4 cents |
2004 full year - 2004 NPAT up 36%
| Alumina Limited | |
|---|
| Net profit attributable to members of Alumina Limited ($ million) |
322.1 |
| Dividends received from AWAC ($ million) |
160.4 |
| Dividends paid by Alumina Limited ($ million) |
233.1 |
| Final dividend per share franked to 7.5 cents |
10 cents |
| Earnings per share cents for 2004 |
27.7 |
| 2004 return on equity (ROE) |
23% |
| Borrowings as at 31 December 2004 (A$ million) |
398 |
| AWAC (100%) | |
|---|
| Profit after tax (US$ million) |
588.5 |
| Alumina production ('000) |
13,600 |
| Aluminium production ('000) |
386 |
| 2004 return on capital (ROC) (%) |
22% |
Market prices for 2004
| LME aluminium price (US$/lb) |
0.78 |
| US$/A$ exchange rate |
0.736 |
2004 half year result - first half NPAT up 41% - AWAC studying 4m tonne expansion
| Alumina Limited | |
|---|
| Net profit attributable to members of Alumina Limited ($ million) |
168.0 |
| Interim fully franked dividend |
10 cents |
| Dividends received from AWAC ($ million) |
110.4 |
| Earnings per share cents for first six months |
14.4 cents |
2003 full year - increases full year profit and dividend
| Alumina Limited | |
|---|
| Net profit attributable to members of Alumina Limited ($ million) |
236.9 |
| Dividends received from AWAC ($ million) |
284.2 |
| Dividends paid by Alumina Limited ($ million) |
259.6 |
| Final fully franked dividend per share |
10 cents |
| Earnings per share cents for 2003 |
20.9 |
| 2003 return on equity (ROE) |
18% |
| Borrowings as at 31 December 2003 (A$ million) |
467 |
| AWAC (100%) | |
|---|
| Profit after tax (US$ million) |
445.8 |
| Alumina production (‘000) |
13,100 |
| Aluminium production (‘000) |
384 |
| 2003 return on capital (ROC) (%) |
19% |
Market prices for 2003
| LME aluminium price (US$/lb) |
0.65 |
| US$/A$ exchange rate |
0.653 |
2003 half year result - increased profits and strong dividend
| Alumina Limited | |
|---|
| Net profit attributable to members of Alumina Limited ($ million) |
117.9 |
| Interim fully franked dividend |
10 cents |
| Dividends received from AWAC ($ million) |
129.5 |
| Earnings per share cents for first six months |
10.4 cents |
2002 full year - strong consistent performance in a low price market
| Alumina Limited | |
|---|
| Net profit attributable to members of Alumina Limited ($ million) |
209.7 |
| Dividends received from AWAC ($ million) |
281.0 |
| Dividends paid by Alumina Limited ($ million) |
199.7 |
| Final fully franked dividend per share |
13 cents |
| Earnings per share cents for 2002 |
15.7 |
| 2002 return on equity (ROE) |
15% |
| Borrowings as at 31 December 2002 (A$ million) |
535 |
| AWAC (100%) | |
|---|
| Profit after tax (US$ million) |
363.6 |
| Alumina production (‘000) |
12,312 |
| Aluminium production (‘000) |
378 |
| 2002 return on capital (ROC) (%) |
19% |
Market prices for 2002
| LME aluminium price (US$/lb) |
0.61 |
| US$/A$ exchange rate |
0.544 |