Molybdenum Price Increases in 2018 Brings China Molybdenum Co.,Ltd 70% Rise of Performance

China Molybdenum Co.,Ltd published 2018 annual performance pre-increase announcement on Jan.30. It estimates that net profit belongs to shareholders of listed company is RMB 4.52~4.88 billion, increased 65.7~78.9% on year on year basis.

The main reason for the increased performance is due to the rising price of molybdenum tungsten, phosphorus, cobalt, niobium and copper, compared to the same period of last year. The other factor is that the company accomplished A shared public offer. After 18 billion fund raising is received, the interest expenditure is lowered, interest income and investment income are increased compared to the same period of the last year.

Besides that, the announcement estimated that TFM copper and cobalt metal yield amount is 168,309 ton, among which cobalt metal 18,747 ton, molybdenum and tungsten 15,380 ton, among which tungsten metal is 11,697 ton, niobium and phosphorus is 1,116,342 ton, among which niobium is 8,957 ton, NPM copper and gold count by 80% equity is 31,931ton, among which gold is 25,324 ounce.

Estimated 2018 annual sales income will increase 1.452~2.052 billion, which is 6.01~8.50% compared to last year the same period. Sales income of 2018 is estimated to be 25.6~26.2 billion.

2018 annual net profit deducts irregular gains and loss belongs to shareholders of listed company will increase 1.125~1.555 billion compared to last year which increase 35.99~49.74%. It is estimated to reach 4.25~4.68 billion.

Statistics shows that 2017 annual sales income of the company is RMB24,147.55 million. Net profit (before adjustment) belongs to shareholders of listed company is RMB 2,727.79 million. Net profit deducts irregular gains and loss belongs to shareholders of listed company is RMB 3,125.34 million. Profit per share is RMB 0.14.

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