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Business Description: Iluka Resources Limited (ILU) is involved in the exploration, project development, operation and marketing of mineral sands. Operations are located in Australia and the United States. For FY14, overall production volumes of Zircon, Rutile and Synthetic Rutile (Z/R/SR) are 534,800t. The current ore reserves are 24.9Mt and mineral resources of 176.4Mt.
Strategy Analysis: Iluka¬īs objective is to create and deliver value for shareholders through exploration and innovation. The focus is on large, high quality, long life operations. The company seeks to meet customer needs though investment in high quality production sources, product and technical development as well as providing price leadership in mineral sand products to allow sustainable customer profitability.
Iluka Resources reported NPAT down 33% to $363.2m for the year ended 31 December 2012. Revenues from ordinary activities were $1.15bn, down 29.5% from last year. Sales volumes year-on-year were significantly lower, with combined zircon, rutile and synthetic rutile sales volumes down 52.9% at 488.9 thousand tonnes compared to 1,038.1 thousand tonnes in 2011. Lower sales volumes were influenced by a combination of external factors, including: low demand associated with global economic conditions and fragile business confidence levels; inventory de-stocking and lower levels of zircon usage in tile manufacturing in China. Basic EPS was 87.1 cents compared to 130.1 cents last year. Net operating cash flow was $250.6m compared to $749.5m last year. The final dividend declared was 10.0 cents, taking the full year dividend to 35.0 cents compared with 75.0 cents last year.
By Michael McCarthy (chief market strategist, CMC Markets) 19/12/2014 |
Traders and investors caught short heading into the FOMC scrambled for cover in Europe and the US, in many cases driving indices to their best one day performance for 2015.
By Betty Lam (Sales Trader, CMC Markets) 18/12/2014 |
Lead by the Fed-fervour offshore, Australians shares jumped on the Yellen cheer wagon. The material and energy stocks were back in vogue as both sectors gained over 3% in morning trade.
By Michael McCarthy (chief market strategist, CMC Markets) 18/12/2014 |
In spite of a frenzied pre-mortem, a benign statement from the US Federal Reserve‚Äôs Open Market Committee and steadying commodity markets drove investors back into share markets overnight. A calmer, stronger ruble helped offset European growth fears, highlighted in the overnight session by further declines in inflation.
By Betty Lam (Sales Trader, CMC Markets) 11/12/2014 |
Offshore jitters sent ripples through to Australian stocks. The open saw the local equities take 65 points off the index, catalysed by a mass-exit in energy stocks, yet again.
By Ric Spooner (Chief Market Analyst, CMC Markets) 10/12/2014 |
Yesterday‚Äôs news on Greek politics and China‚Äôs bond market came at a time when US and European stock markets have extended rallies and pushed valuations higher. This makes those markets vulnerable to downward corrections as profit takers act to avoid missing out.
BR Securities Australia Pty Ltd 2/12/2014 |
December 2014 could go down as a nasty moment in Australian finance. MYEFO will reveal a deteriorating budget deficit and the UNFCCC meeting in Lima, Peru will provide the agreement, to be ratified in Paris in 2015, on how much (or little) CO2 is to be allowed into the atmosphere from 2020.
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