Petra Diamonds Ltd (CHIX:PDLl)
£ 0.12 +0.00025 (+0.21%) Market Cap: 23.21 Mil Enterprise Value: 184.78 Mil PE Ratio: 0 PB Ratio: 0.18 GF Score: 32/100
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Half Year 2025 Petra Diamonds Ltd Earnings Call Transcript

Feb 17, 2025 / 09:30 AM GMT
Release Date Price: £0.251 (-16.33%)

Key Points

Positve
  • Petra Diamonds Ltd (PDLMF) successfully implemented cost reduction plans, reducing mining and processing costs by 19% and capital expenditure by 32% year on year.
  • The company achieved improved operational cash flow, moving from a negative $21 million to a positive $16 million for the reporting period.
  • Petra Diamonds Ltd (PDLMF) has focused on simplifying its portfolio by closing the Coffee fontaine sale and announcing the full sale of Williamson, which will avoid significant closure costs.
  • The company has launched a multi-stream restructuring plan aimed at sustainable cost reductions and capital optimization, with progress in developing higher-grade areas at Finch and Cullinan mines.
  • Despite market challenges, Petra Diamonds Ltd (PDLMF) maintained an average realized price of $103 per carat, reflecting a favorable product mix that helped offset broader market price declines.
Negative
  • Petra Diamonds Ltd (PDLMF) experienced a breach in interest cover and leverage ratios due to lower EBITDA over the past 12 months.
  • Revenue was negatively impacted by approximately $49 million year on year, due to rollover sales, weaker pricing, and product mix variability.
  • The company reported a decline in revenue from $164 million to $115 million compared to the previous year, primarily due to deferred sales from FY 2023.
  • Net debt increased to $215 million from $193 million, driven by timing of tender sales and weaker pricing.
  • The diamond market remains weak, with a 6% drop in like-for-like pricing during the most recent tender, and uncertainty around the timing and extent of price recovery.


Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

PDL.L - Petra Diamonds Ltd
Half Year 2025 Petra Diamonds Ltd Earnings Call
Feb 17, 2025 / 09:30AM GMT

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Presentation
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Unidentified_1 [1]
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Today for a discussion on PETA's interim results for the six months in the 31st December 2024. I'm Rebeccauddudia, joint interim CEO of Petra Diamonds, and with me are John Kemp, appointed joint interim CEO alongside me and Johans name and our CFO who will cover the key financial metrics.

After taking you through our announcement, we'll open up Q&A. This will be hosted both verbally through the raised hand icon, and we will then move on to any type questions moderated through the Q&A functionality on the chat.

Please note that we will be recording this webcast, and it will be available on its website later today.

Moderator, if I can please ask you to move us to slide 3.

As you will have
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