Almahdi Hormozal Aluminum Company

Transcription

1 Almahdi Hormozal Aluminum Co. Iranian Privatization Organization (Marketing Department) Almahdi Hormozal Aluminum Company Total Value of Shares - Start Bid: 123,891,627 Assessment Date: December 2013 (Exchange Rate: 25,535 IRR) Part I: General Information Parent Company: Iranian Mines & Mining Industries Development & Renovation (IMIDRO) Shareholders: IMIDRO (77.22%), IDC (13.46%), Other Shareholders (9.32%) Capital: 63,501,586 Chief Executive Officer: Mr. Golkar Establishment Date: March 1990 Location: 18 km East of Shahid Rajaee Seaport, Bandar Abbas, Hormozgan Province Field of Activity: Aluminum producing Nominal Capacity: 220,000 tons/year (capacity expandable to 330,000 tons, three 110,000 tons phases) Number of Staff in 2013: 1375 Percentage of Divestible Shares: 77.22%

2 Part II: Financial Information Main Items of Balance Sheet in (Revaluation date: December 2013) Title Details Book value (March 2013) Market Value Machinery, equipments & installments 49,438, ,861,719 Inventories 68,634,463 69,417,231 Assets Land * (2,755,266 m 2 ) 117,486 48,697,866 Buildings (43 buildings) 23,634,502 37,624,555 Other accounts receivable 25,234,854 25,234,854 Trade accounts & notes receivable 7,029,959 7,029,959 Total assets 205,101, ,674,995 Other accounts payable 165,448, ,418,445 Liabilities Loans 117,969, ,969,963 Trade accounts payable 4,530,605 4,530,605 Total liabilities 325,350, ,402,389 Retained earnings (184,408,498) (169,819,894) Capital 63,501,586 63,501,586 Owner s equity (120,248,443) 123,861,210 *Factory land is mortgaged to bank for a loan. Main Items of Income Statement in Title March 2012 March 2013 Net sales 129,094, ,789,191 Cost of goods sold (133,475,073) (171,960,211) Gross profit (loss) (4,381,046) 64,828,980 Net other operating revenues & expenses (14,229,998) 23,339,847 Operating profit (18,611,044) 88,168,827 Financial expenses (17,873,194) (11,116,468) Net profit (loss) 42,722,264 19,451,459

3 Net Sales Products Part III: Details Quantity (ton) Amount () Quantity (ton) Amount () Domestic sales of billet 26,101 32,739,769 30,909 68,252,399 Export sales of billet 89,812 91,298,884 78, ,749,677 Anode 21,234 5,055,375 12,118 5,787,116 Total 137, ,094, , ,789,191 Loans Lender Reminder () German BHF Bank 69,098,257 IMIDRO 58,367,731 Bank of Industry & Mine 18,732,759 Others 4,095,907 Total 150,294,654 Limitations: Alumina Powder (It has international limitation) Advantages: Type of production, equipment of the complex, location at the seaside, good opportunity to export Comparison of capacity & actual production (in 2013) Products Unit Nominal Value Actual Production Aluminum Billet Ton 110, ,063 Prebaked Anode Number 216,000 72,555 Baked Anode Number 72,000 66,246 Anode Rodding Number 90,000 68,167

4 Input Input Quantity (ton) 2012 Quantity (ton) 2013 Alumina Powder 215,494 45,932, ,695 65,256,785 Petroleum Coke 63,072 11,053,848 59,436 25,836,695 Bitumen 14,731 3,826,356 12,399 7,861,602 Aluminum fluoride 2,169 1,160,486 2,811 3,832,426 Anode & other inputs 7,218 3,012,923 1,046 1,138,046 Total - 64,986, ,925,553 Suppliers Input Alumina Powder Country Seller (Company) Quantity (ton) Quantity (ton) Al-Imarat Gilinkor 20,019 5,696, ,985 74,963,462 Iran Iran Alumina Co ,000 4,934,404 The Netherlands Terafigura 187,598 38,113, China Alnoor 30,210 6,313, Total 247,827 50,123, ,985 79,897,866 Anode Petroleum Coke China Alnoor - - 8,188 1,051,106 Iran Daya Eghtesad Parsian 4,958 1,152, Total 4,958 1,152,144 8,188 1,051,106 China Alnoor 38,859 8,247,973 63,262 29,297,239 Iran Parsian Khalij 36,225 7,085, Total 75,084 15,333,151 63,262 29,297,239

5 Part IV: Hormozal Aluminum Project Total Value of Hormozal Aluminum Project: 561,582,142 Value of Hormozal Aluminum Complex Land (500,000 m 2 ): 8,811,435 Value of Total Estates: 43,078,128 Value of Machinery, Equipments& Installments: 509,692,579 Capacity: 147,000 tons/year Aluminum billet Execution Date: May, 2006 Field of Activity: Aluminum melting & producing Type of Contract: EPC Foreign Contractor: FATA Company Foreign Investor: European Banks Consortium representing MCC Bank & domestic agent Bank of Industry & Mine Technology: 230-D20KA Technology Advantages of Mentioned Technology: Decreasing Anode consumption, decreasing energy consumption, increasing ampere output Equipments Suppliers: FATA GROUP S.P.A., FATA HUNTER DIVISION & BALLI STEEL plc Degree of Purity: 99.7% (equal to standard of London Metal Exchange (L.M.E.)) Suppliers: Jajrom Alumina & foreign suppliers, (prebaked Anode from Almahdi Complex)