Energy World Corporation Ltd (EWC)



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General Information
Company Name: Energy World Corporation Ltd
Stock Code: EWC
Website: www.energyworldcorp.com
GICS Sub-Industry: Independant Power Production & Energy Traders
Market Cap ($M): 642
Equiv. Shares (M): 1,734

Current Price Data+
Current Price Open High Low Last Close Volume Price Movement
 $ 0.370 $ 0.350 $ 0.370 $ 0.350 $ 0.345 408,107 $ 0.025  7.246 %

Company Overview

Business Description:
Energy World Corporation Ltd (EWC) is an integrated energy company engaged in the production and sale of power and natural gas, as well as liquefied natural gas (LNG). EWC has operations in Australia, Indonesia and Philippines.

Strategy Analysis:
EWC is pursuing the development of a 56,000 TPA LNG processing plant in Gilmore, Queensland, Australia. In Australia, EWC is carrying out a feasibility study and conducting preliminary discussions regarding their proposal to build a modular LNG train, LNG storage tank and export facility at the Port of Abbot Point on the north Queensland coast. EWC is also evaluating the supply of gas to the Queensland LNG Facilities from their Gilmore Gas Field and Eromanga Gas Field at a later phase of development. Energy World Corporation reported NPAT down 4.8% to US$10.13m for the half-year ended 31 December 2012. Revenues from ordinary activities were US$66.34m, down 14.8% from the same period last year. Basic and Diluted EPS was 0.58 US cents compared to 0.62 US cents last year. Net operating cash flow was US$20.05m compared to US$30.74m last year. No dividend was declared.


Financial Summary
Year to Jun NPAT EPS EPS chg (%) PER DPS Yield (%) Franking (%)
2014  A 20.9 1.2 14.7 33.3 0.0 0.0 --
2013  A 18.0 1.0 -12.1 37.5 0.0 0.0 --
2012  A 20.8 1.2 -28.4 51.3 0.0 0.0 --
Source: Aspect actuals / Thomson IBES estimates

Peer Comparison
EPS Growth (%) P/E (%) Dividend Yield (%)
Company Mkt Cap 2012 A 2013 F 2014 F 2012 A 2013 F 2014 F 2012 A 2013 F 2014 F
Energy World Corp. (EWC) $598 M 0.1470 -- -- 29.4872 -- -- 0.00 -- --

Market Comparison
Earnings P/E Ratio P/B Ratio P/E Growth P/S Ratio
EWC -- 31.6 1.02 -- 3.81
Market 0.91 15.3 1.22 1.74 1.54
Sector 0.97 18.8 1.20 6.33 2.28

Directors
Name Position Start Date
Mr Gregory John Karpinski Alternate Director 14 May 2013
Mr Stewart William George Elliot Chief Executive Officer,Managing Director,Chairman 21 November 1999
Mr Graham Elliott Executive Director 14 May 2013
Mr Ian William Jordan Executive Director,Company Secretary 29 September 2000
Mr Brian Jeffrey Allen Finance Director,Executive Director 12 April 2001
Dr Brian Derek Littlechild Non-Executive Director 02 May 2001
Mr Michael Philip O'Neill Non-Executive Director 20 April 2007
Mr Kanad Singh Virk Non-Executive Director 14 May 2013
Mr James David Dewar Non-Executive Director 03 September 2013
Mr Bruce Macfarlane Non-Executive Director 01 September 2013

Substantial Shareholders
Holding Name
83,302,689 (4.80%) Citicorp Nominees Pty Limited
153,777,129 (8.87%) JP Morgan Nominees Australia Limited
334,572,393 (19.29%) Energy World International Ltd
798,259,339 (46.03%) HSBC Custody Nominees (Australia) Limited

Calendar of Events
Date Event
29 September 2015 Report (Annual)
31 August 2015 Report (Prelim)
02 March 2015 Report (Interim)
21 November 2014 AGM
© 2011 Morningstar, Inc. All rights reserved. The data and content contained herein are not guaranteed to be accurate, complete or timely. Neither Morningstar, nor its affiliates nor their content providers will have any liability for use or distribution of any of this information. To the extent that any of the content above constitutes advice, it is general advice that has been prepared by Morningstar Australasia Pty Ltd ABN: 95 090 665 544, AFSL: 240892 (a subsidiary of Morningstar, Inc.), without reference to your objectives, financial situation or needs. Before acting on any advice, you should consider the appropriateness of the advice and we recommend you obtain financial, legal and taxation advice before making any financial investment decision. If applicable investors should obtain the relevant product disclosure statement and consider it before making any decision to invest. Some material is copyright and published under licence from ASX Operations Pty Limited ACN 004 523 782 ("ASXO"). DISCLOSURE: Employees may have an interest in the securities discussed in this report. Please refer to our Financial Services Guide (FSG) for more information at www.morningstar.com.au/fsg.asp.

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