Tigers Realm Coal (TIG) H1 2024 earnings summary

Executive summary

• Entered binding agreement to sell all Russian assets for US$49 million; completion pending Russian government approval.

• All revenue generated by Russian assets, now classified as discontinued operations; no revenue from continuing operations.

• Net loss of A$124.9 million for the half-year, mainly due to impairment from asset sale.

• No new business strategy determined post-sale; no intention to liquidate the company.

Financial highlights

• Revenue from discontinued operations: A$35.4 million, down 100% from A$35.6 million year-over-year.

• Net loss attributable to owners: A$124.8 million, compared to profit of A$11.3 million in prior year.

• Basic and diluted loss per share: (0.96) cents, versus 0.087 cents profit per share last year.

• Net tangible assets per share: 0.50 cents, down 55% from 1.10 cents year-over-year.

• No dividend declared or paid for the period.

Outlook and guidance

• Completion of Russian asset sale expected upon government approval; proceeds anticipated to fund operations for next 12 months.

• Future strategy undetermined; company not planning liquidation.