Vedanta Resources 2018 interim results
Revenue of US$6.8 billion, up 39% y-o-y and EBITDA of US$1.7 billion, up 37% y-o-y, primarily due to higher volumes and strong commodity prices
Adjusted EBITDA margin of 34% in H1 FY2018 (H1 FY2017: 33%)
Profit attributable to equity holders of the parent (before special items) increased to US$ 21 million (H1 FY2017: US$(64) million)
Positive free cash flow(FCF) after growth capex of US$232 million (H1 FY2017: US$166 million)
Gross debt of US$15.1 billion, a reduction of US$3.1 billion over the last six months (including repayment of US$1.1 billion of temporary borrowing at Zinc India)
Net debt of US$9.0 billion, increased by US$ 0.5 billion in the last six months due to special dividends paid by subsidiaries
Underlying earnings per share of US cents 9.5 (H1 FY2017: loss of US cents 18.8) and basic loss per share of US cents 23.7 (H1 FY2017: loss of US cents 23.2)
Interim dividend of US cents 24 per share (H1 FY2017: US cents 20 per share)
Proactive refinancing of US$1.84 billion completed at Vedanta Resources plc in August 2017. This extends the average debt maturity by 1.5 years at Vedanta Resources plc level, lowers the average cost of borrowing and results in no significant debt maturities until December 2018.
