Molibdenos y Metales S A : Q4 2021 Results

Results 2021

January 2022

Financial performance

2021

REVENUES (MM US$)

By December 2021, Molymet sold 134 million pounds of molybdenum products, compared to the 168 million pounds sold by December 2020.

1,453.44

1,051.91 +38%

20202021

NET PROFIT (MM US$)

By the end of December 2021, Net profit was higher compared to same period of las year, due to the higher gross profit.

97.19

+105%

47.32

20202021

EBITDA (MM US$)

By the end of December 2021,		+69%	193.20
EBITDA increased due to a	114.15
higher gross profit.
	2020		2021

NET DEBT (MM US$)

By the end of December 2021, Net Debt amounted US$ 439 million, equivalent to a Net Debt/EBITDA ratio of 2.27x

439.22

+

26.12

2020 2021

EBITDA COMPOSITION VARIATION (MM US$)

MAIN RATIOS

				76.82	6.26
114.15							193.20
-4.02
2020		Tolling		Own Sales		Byproducts	2021

• Revenue USD 1,453 MM	• Liquidity USD 157 MM
• Income USD 98 MM	• Net debt USD 439 MM
• EBITDA USD 193 MM	• Assets USD 1,748 MM
• Equity USD 792 MM	• CAPEX USD 32 MM

Ratio	December 2020	December 2021
Net Debt / EBITDA	0.23	2.27
Debt Ratio1	0.72	1.21
EBITDA / Financial	8.40	13.93
Expenses2
Current Liquidity3	3.55	2.44
Acid Ratio4	1.81	0.81

VARIATION % 2020 / 2021

↑

68.06%

65.83%

-31.27%

-55.25%

1 Corresponds to the total liabilities divided by the total equity.

2 Corresponds to the EBITDA divided by the financial expenses. 3 Corresponds to the total current assets divided by the total current liabilities.

4 Corresponds to the total current assets, less the current inventories, divided by the total current liabilities

FINANCIAL DEBT MATURITY PROFILE by December 31, 2021 (US$ MM)

MAIN RATIOS

150.0

Ratio	December 2020	December 2021
Net Debt / EBITDA	0.23	2.27
Debt Ratio1	0.72	1.21
EBITDA / Financial	8.40	13.93
Expenses2
Current Liquidity3	3.55	2.44
Acid Ratio4	1.81	0.81

VARIATION % 2020 / 2021

↑

68.06%

65.83%

-31.27%

-55.25%

			120.3
68.9	80.0			70.7	80,8
0.5	0.5	0.5
2022	2023	2024	2025	2027	2028

1 Corresponds to the total liabilities divided by the total equity.

2 Corresponds to the EBITDA divided by the financial expenses. 3 Corresponds to the total current assets divided by the total current liabilities.

4 Corresponds to the total current assets, less the current inventories, divided by the total current liabilities

Bank Loans		Bonds		PAE

Molybdenum Price evolution

Regarding the international price of molybdenum oxide, in average during the year went from US$ 8.69 per pound by December 2020 to US$ 15.85 per pound by December 2021, which meant an 82.39% increase.

Mo average monthly prices* (US$/Lb.)

25

20

/ LB

15

US$

10

5

0

Jun-12

Sep-12

Jun-13

Sep-13

Mar-14

Jun-14

Sep-14

Jun-15

Sep-15

Jun-16

Sep-16

Dec-16

Jun-17

Sep-17

Jun-18

Sep-18

Jun-19

Sep-19

Jun-20

Sep-20

Dec-20

Jun-21

Sep-21

Dec-11

Mar-12

Dec-12

Mar-13

Dec-13

Dec-14

Mar-15

Dec-15

Mar-16

Mar-17

Dec-17

Mar-18

Dec-18

Mar-19

Dec-19

Mar-20

Mar-21

Dec-21

Año	Average Price
(US$/LB.)
2013	10.32
2014	11.39
2015	6.65
2016	6.48
2017	8.21
2018	11.94
2019	11.35
2020	8.69
2021	15.85

*Source: METALS WEEK D.O. USA