EBITDA* $34.1m (FY19: $39.2m)
Included in our domestic EBITDA is:
- North Island domestic (“NID”) operations $32.0m (equity share) (FY19: $33.4m);
- South Island domestic (“SID”) operations $15.3m (FY19: $18.8m); and
- Corporate overhead costs (Bathurst and equity share of BT Mining) -$13.2m (FY19: -$13.0m).
The decrease in earnings for the SID segment was expected, as sales volumes were reduced from the realignment of production to better support strategic customers and a resultant loss of a sales contract.
A rise in costs at Rotowaro from mechanical issues which increased repairs and plant hire costs were the cause of the marginal decrease for the NID segment.
As the results show, our domestic segments contribute stable earnings year-on-year.
* EBITDA is a non GAAP reporting measure and represents net profit/(loss) before net finance costs (including interest), tax, depreciation, amortisation, impairment, fair value movements on derivatives and deferred consideration, and movements in rehab provisioning.