TerraCom (ASX:TER) shares close 8% higher on EBITDA results 

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TerraCom (ASX:TER) shares close 8% higher on EBITDA results 

ASX TerraCom, ASX TER, TER share price
Image source: © Jirsak | Megapixl.com

Highlights

  • TerraCom shares closed over 8% higher on Tuesday.
  • The Company booked a combined EBITDA of AU$24.5 million for December 2021. 
  • TER will announce the revenue and EBITDA for the third shipment within January 2022.

The shares of emerging resource company TerraCom Limited (ASX:TER) closed over 8% higher on Tuesday after the Company announced its EBITDA results.

The Company booked a combined EBITDA of AU$24.5 million for December 2021 on solid production and coal sales. TER shares at 20.0 cents each today.

As per the announcement, the Company booked operating EBITDA of AU$19.8 million from its Australian Business Unit for December, supported by coal sales of 167,0002 tonnes. Further, the coal sales represent an operating cash margin of nearly AU$118 per tonne.

The Company finally executed the third shipment delayed in December due to bad weather conditions on 5 January 2022. The Company will announce the revenue and EBITDA for this shipment within January 2022.

Related read - Why EBITDA is important?

TER also achieved operating EBITDA of AU$4.7 million from its South African Business Unit for December 2021, fueled by coal sales of the South African Business Unit for December 2021.

TerraCom achieved total coal sales of 359,0002 tonnes, including 195,000 and 164,000 domestic & export coal sales, respectively. Higher than expected seasonal rainfall impacted both logistics and production, resulting in negative financial results for South Africa.  

Bottomline

Despite negative coal sales, the Company achieved good results that are likely to benefit the firm in the upcoming future.

 

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