Stanmore Resources (SMR) 2020年年度报告「ASX」.pdf

1、Strong production performanceANNUAL REPORT2020Auditors independence declaration392Chairmans letter6Directors report22Remuneration report(audited)4Chief Executive Officers reportCONTENTS1Stanmore Coal Annual Report 202092Independent auditors report40Financial statements101Shareholder information107St

2、anmores five-year financial historyIBCCorporate information105Other information2Stanmore Coal Annual Report 2020CHAIRMANS LETTERDear Shareholders,On behalf of the Directors,I am pleasedto make my first report to you as Chairman of Stanmore Coal Limited.The Company has delivered another solid operati

3、onal performance in a yearof significant change.Financial performanceThe Companys revenue from operations totalled$364.5million,a reduction of 10%on the previous year.Gross profit was also lower at$97.0 million,compared with$164.8 million in FY19.Underlying Earnings before Interest,Tax,Depreciation

4、and Amortisation was$87.4million,against the FY19 result of$154.9 million.The reduction is due to a 42.4%decrease in underlying margin as a result of increased waste removal costs following changes in the mine plan and equipment mix to deal with geological challenges.The average A$realised price fro

5、m coal sales also decreased by A$14.33/tonne as a result of reduced demand because of the impacts of COVID-19 on our customers and the relative strength of the Australian dollaragainst the US dollar.Stanmore Coal reported Net Profit After Tax of$34.9 million,compared with$91.6 million for the previo

6、us year.Cash generated from operations totalled$6.4 million compared with$140.0 million in FY19.The difference canmostly be attributed to increases in payments to suppliers and employees and income tax,and reduced receipts from customers.During the June quarter,formal notice was given byTaurus to ca