AUSMELT LIMITED
Ausmelt Lifts Dividends After Record Result
AET - FY08 Full Year Results - Mr Paul Abbott, MD
Tue, 2 Sep 2008 12:30PM
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Mr Paul Abbott
Tue, 2 Sep 2008
12:30PM Australia/NSW
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 AUSMELT LIMITED
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AET - 2008 Annual General Meeting - Mr Paul Abbott, MD Wed, 19 Nov 2008 12:15PM |
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AUSMELT LIMITED (AET)
ASX code: AET
Website: http://www.ausmelt.com.au/
Industry: Capital Goods
Principal Activities:
Development, design engineering and supply of Ausmelt furnace systems for production of metals or processing of wastes.
Address:
12 Kitchen Road
DANDENONG
VIC
Phone: (03) 9794 6200
Fax: (03) 9794 9411
Executives & Directors
Mr Rodney Chadwick , Chairman
Dr John Floyd , Deputy Chairman
Mr Paul Abbott , Managing Director
Mr Geoff Lord , Non Exec. Director
Dr Colin Adam , Non Exec. Director
Mr Wayne Pennell , Company Secretary
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Company ASX Announcements
Company ASX announcements can be viewed on the ASX website.
Announcements from the preceding six months are shown below.
Please refer to the relevant stock exchange if any of the above information is incorrect
AUSMELT LIMITED (AET) Events
Australia/NSW
AUSMELT LIMITED (AET)
| Ausmelt Limited Broadcast | Wed, 19 Nov 2008 |
| Results of 2008 Ausmelt AGM | Mon, 17 Nov 2008 |
| Ausmelt Boosts Order Book Above $50m with Second Furnace | Wed, 5 Nov 2008 |
| Notice of General Meeting | Fri, 17 Oct 2008 |
| Annual Report to shareholders | Fri, 17 Oct 2008 |
| Ausmelt to Suspend Operations at Whyalla Smelter | Tue, 30 Sep 2008 |
| Ausmelt Signs Agreement with KCM SA for a New Lead Smelter | Wed, 17 Sep 2008 |
| Ausmelt Limited Broadcast | Tue, 2 Sep 2008 |
| Preliminary Final Report | Fri, 29 Aug 2008 |
| Ausmelt Signs Final Contract for Bolivian Tin Project | Fri, 22 Aug 2008 |
Please note: This company appears on this website as a result of its listing on the Australian Securities Exchange. Boardroom Radio does not claim any association with any company listed on this site.
INTERVIEW WITH PAUL ABBOTT, MANAGING DIRECTOR OF AUSMELT GLOBAL ENVIRONMENTAL TECHNOLOGIES (AET)
“AET - FY08 Full Year Results”
http://www.brr.com.au/event/50835
TUESDAY, SEPTEMBER 2, 2008, 12:30 PM.
BRR Good morning and welcome to Boardroom Radio. Today, we’re speaking with Mr. Paul Abbott, Managing Director of Ausmelt Global Environmental
10 Technologies. Thanks for joining us today Paul.
AET Thank you Eddie.
BRR Paul, Ausmelt has reported a strong result for their financial year, alright, could you give us some details of the financials?
15 AET Most certainly. Look, the financial performance of the latest financial year was a fantastic result for the company. A number of records were broken. Firstly, pre-tax earnings increased almost 60% from $3.8 million in 2007 to just over $6 million in 2008. There are also significant improvements in after-tax profit, which increased from 42.5% from $3.05 million in 2007 to just over 4.35
20 million in 2008. The growth in pre-tax profit was greater than profit tax earnings because of the availability of tax losses in 2007. The revenue also increased up to 17.5% to over $23 million. So, overall, it’s a very pleasing year from a financial result perspective for the company.
25 BRR Paul, some further positive news that came out of the financial is the increase in dividends for the shareholders, certainly an accomplishment considering the current market conditions.
AET Yes, Eddie. Look, the strong profit performance and also the improvement in earnings per share, which increased from 7.7 cents up to 10.9 cents for the
30 year enabled the company to lift its annual dividend by 33% to 4 cents per share. Last Friday, the Ausmelt Board of Directors announced that the company will be paying a final unfranked dividend of 2 cents per share, which together with the 2 cents that we payed earlier in the year as an interim dividend, represents the annual dividend payment of 4 cents. So a good
35 result for the company again. In regard to the final dividend that is scheduled to be payed to shareholders on the 10th of November to those shareholders that are registered and entitled to participate on the 13th of October 2008.
BRR It’s been a (inaudible) (0:02:11) venue for Ausmelt this year Paul, winning six
40 major contracts and a few smaller jobs, what are some of the highlights that has been?
AET Look, there were a number of highlights during the year. Firstly, Ausmelt signed contracts in three new countries, three countries that we’ve never had projects in before. Those three countries were Brazil, Bulgaria and Bolivia.
45 The Brazilian and Bulgarian projects are both large lead smelting projects and each of them are worth more than $9 million. So certainly sizeable projects for us as well. I should say that the project in Bolivia is also important for us. It is a new tin smelter and once this new Bolivian tin smelter is up and operational, it’ll mean that 40% of the world’s primary tin (inaudible) (0:02:57) will be produced using Ausmelt technology, which is certainly a major milestone for us. We also signed two more copper projects in China. We are now sort of seeing Ausmelt technology has become the technology of choice for many Chinese metal producers. We currently have 10 plants or projects in
5 China at the moment and what we’re seeing is that it’s being used in a wide variety of metals there for production of copper and nickel, lead, and tin. The other important thing for the year was that the value of new contracts and orders won during 2008, was a record at $44 million and it’s pleasing to report that we currently sit here at the moment with over $40 million of work in hand
10 and work to be undertaken across these next financial year. Another milestone was our aim to mineral processing business, which made its first contribution to earning the last financial year. This was largely due to the continuing supply of the flotation reagent AM2 to the Ruashi copper-cobalt project in the Democratic Republic of Congo where AM2 is sharing the
15 significantly improved metal recoveries for copper and cobalt at that project. So, overall across our business areas, it was a great year for the company.
BRR Lastly, Paul, could you just give us a bit of an outlook on the 2009 financial year for Ausmelt?
20 AET Yes. Look, we’re seeing a much wider range of projects emerging. We saw that last year in 2008 and we expect that to continue on into 2009. Ausmelt Technologies are very versatile smelting process that can be used to process a wide variety of non-ferrous materials that can also be used for production of pig iron and also the treatment of a wide variety of waste materials. What we
25 are seeing is an ever increasing and ever widening network of inquiries from metals producers from Europe, Asia and South America. And we see the outlook for winning additional work and picking up new projects in a non-ferrous sector across 2009 is still very strong and favorable. In regard to the Whyalla smelter project which was our new project that we started up during
30 the year, I should say that we have faced some significant challenges with well with unexpected zinc prices, higher than expected fuel cost and a commissioning start-up that has been hampered by some equipment problems. The equipment problems are being progressively identified and resolved in the Ausmelt board and management continue to maintain a close
35 eye on the progress of this project through 2009. I should say in summary, the outlook for 2009 financially remains very positive. We are expecting another strong performance from a non-ferrous style of technology business. We certainly do expect to pick up new projects as we move through this financial year. We are also looking for an expanded contribution from our
40 mineral-processing business comprising higher earnings from AM2 flotation reagent and also we are looking for an improved contribution from our metallurgical laboratory business in (inaudible) (0:06:11) New South Wales. So overall, we are looking to build on 2008 which as I said earlier was a record year and our target at this stage is to make 2009 another record year
45 for the company.
BRR Paul, congratulations on fantastic result for financial year 2008. We thank you for your time today and look forward to speaking to you soon.
AET Thank you very much Eddie.
BRR That was Paul Abbott, Managing Director of Ausmelt Global Environmental Technologies. And if you have any questions about this broadcast or any other broadcast, please feel free to contact us on brr@brr.com.au. I am Eddie
5 (inaudible) (0:06:49) and thank you for listening to Boardroom Radio.
INTERVIEW CONCLUDED
Contact brr@brr.com.au for more information
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