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Iluka Resources Limited (ASX:ILU) is involved in the mining, concentration and separation of mineral sands and titanium minerals. The Company also produces ilmenite and other titani-ferrous concentrates, zircon, and synthetic rutile along with the exploration of coal. Iluka's products are exported throughout the world.
Iluka Resources Limited has announced its full-year results for FY 2018. Â As per the report the company has a posted robust set of financial results for the financial year ended 31 December 2018. The results have reflected upon the favourable mineral sands market conditions with significant price increases across both of Ilukaâs major product groups, zircon and high-grade titanium dioxide stocks.Â
The companyâs NPAT for FY2018 came in at $304 million, along with the underlying EBITDA of $600 million. Revenue from the Mineral sands segment was up 22% to reach at $1,244 Mn on the back of regular price increases offset by a marginal fall witnessed in the production constrained Z/R/SR sales volumes. The average revenue realisation per tonne of Z/R/SR sold saw a rise of 31% to reach at the levels of $1,415 per tonne, resultantly indicating a 41% and 21% increase in zircon and rutile prices respectively.
Ilukaâs Board has declared a final dividend of 19 cents per share, fully franked, and the Dividend Reinvestment Plan (DRP) remains active with no discount offered. The Record Date for which has been decided March 8, 2019 and the payment date shall be April 4, 2019.
Going forth the company expects that as regards the Zircon market, the underlying demand across the various market sectors in China to remain sound. Buying across all Chinese sectors is supposed to pick up when plants re-open after the Chinese New Year. However, a further slowing in the Chinese construction sector or any escalation in the US-China trade war could hurt the timing of Chinese companies coming on-line and the operating rates targeted.
Iluka expects significant capital expenditure outlays of around $330 million in 2019. This includes final expenditure to deliver Cataby and the Lanti and Gangama expansions, the Ambrosia mine move and, subject to value optimisation recommendations and approvals, early works at Sembehun. Other longer-term projects are also being progressed including the fine minerals project. With regards the Titanium dioxide market a sequential price increase ranging from 8 to 11% for rutile/synthetic rutile have been negotiated for all volumes contracted in the first half of 2019.
Now, let us have a quick look at Iluka Resources Limitedâs stock performance and the return it has posted over the last few months. The stock is currently trading at a price of $9.44, down by 1.461% during the dayâs trade with a market capitalisation of ~$ 4.05 Bn. The counter opened the day at $ 9.580, reached the dayâs high of $ 9.740 and touched the dayâs low of $ 9.180 with a daily volume of 2,530,063. The stock has provided a Year Till Date return of 32.69% & also posted gains of -0.21%, 15.14% & 25.89% over the past six months, three & one-months period respectively. It had a 52-week high price of $ 12.200 and touched 52 weeks low of $ 7.020, with an average volume of 1,928,044 approximately.
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