Financial Analysis - Mining and Metallurgical Company Norilsk Nickel OJSC or GMK Norilsk Nickel is a

Page 1

24.04.2013

Company Analysis - Overview Ticker:

MMC Norilsk Nickel OJSC

MNOD LI

London Intl: MNOD, Currency: USD

Currency: Sector: Materials

Industry: Metals & Mining

Year:

Telephone 7-495-787-76-67 Revenue (M) Website www.nornik.ru No of Employees Address 22 Voznesensky pereulok Moscow, 115230 Russian Federation Share Price Performance in USD Price 16.05 1M Return 52 Week High 20.44 6M Return 52 Week Low 13.96 52 Wk Return 52 Wk Beta 1.11 YTD Return Credit Ratings Bloomberg S&P Moody's Fitch

Mining and Metallurgical Company Norilsk Nickel OJSC or GMK Norilsk Nickel is a producer of base and precious metals. The Company's main products are nickel and palladium. MMC Norilsk Nickel also produces copper, cobalt, platinum, gold, silver and other precious metals. MMC Norilsk Nickel is headquartered in Moscow with its main production facilities in Taimyr and Kola peninsula.

Benchmark: FTSE 100 INDEX (UKX)

12'065 #N/A N/A

Sales (M) 11075 990

-3.9% 4.0% -3.8% -12.9%

BBBBB+

Date Date Date

12/09 8.4x 6.8x -

12/10 6.5x 5.8x -

12/11 5.1x 4.6x -

12/12 8.0x 6.8x -

12/13E 8.8x 2.2x 1.8x 9.3%

12/14E 8.2x 2.2x 1.8x 10.3%

12/15E 7.3x 2.0x 1.7x 8.8%

12/09 Gross Margin 51.1 EBITDA Margin 50.9 Operating Margin 41.4 Profit Margin 30.4 Return on Assets 11.9 Return on Equity 21.3 Leverage and Coverage Ratios 12/09 Current Ratio 2.0 Quick Ratio 1.0 EBIT/Interest 27.6 Tot Debt/Capital 0.3 Tot Debt/Equity 0.4 Eff Tax Rate % 24.3

12/10 61.8 57.7 51.4 25.8 14.1 21.2

12/11 59.0 51.3 45.9 25.5 16.8 25.3

12/12 49.1 40.9 34.3 18.0 10.9 18.1

12/13E 48.1 42.3 35.9 25.0 17.5 21.5

12/14E 48.3 42.8 35.2 25.5 15.5 22.8

12/15E 46.2 43.2 35.2 26.1 18.8 23.4

26.09.2011 11.07.2012 19.08.2011

Business Segments in USD Mining and Metallurgy Other Energy and Utilities

Outlook Outlook Outlook

NEG STABLE STABLE

Sales (M) 6066 2750 1226 1015 1004 4

8% 0%

8% 8%

Valuation Ratios P/E EV/EBIT EV/EBITDA P/S P/B Div Yield Profitability Ratios %

Geographic Segments in USD Europe Asia North America Russian Federation Adjustments Other Nickel

10% 51%

23% 92%

Europe Asia Mining and Metallurgy

Other

North America Russian Federation Adjustments Other

12/10 4.8 2.4 75.5 0.1 0.2 22.8

12/11 1.7 0.7 61.7 0.3 0.5 25.9

12/12 1.7 0.4 17.1 0.3 0.4 31.8

Current Capitalization in USD Common Shares Outstanding (M) Market Capitalization (M) Cash and ST Investments (M) Total Debt (M) Preferred Equity (M) LT Investments in Affiliate Companies (M) Investments (M) Enterprise Value (M)

Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |

#N/A Field Not Applicable 27631.2 #N/A N/A #N/A N/A 0.0 0.0 0.0


Turn static files into dynamic content formats.

Create a flipbook
Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.