Resultados provisionales de los seis meses finalizados el 31 de diciembre de 2023
28 de marzo de 2024
Se considera que la información contenida en este anuncio constituye información privilegiada según lo estipulado en las Regulaciones de abuso de mercado (UE No. 596/2014) que es parte de la ley del Reino Unido en virtud de la Ley de (Retirada) de la Unión Europea de 2018. Tras la publicación de este anuncio, esta información privilegiada ahora se considera de dominio público.
El grupo Parkmead plc
("Parkmead", "la Compañía" o "el Grupo")
Interim Results for the six-month period ended 31 December 2023
Parkmead, the independent energy group focused on growth through gas, oil and renewable energy projects, is pleased to report its interim results for the six-month period ended 31 December 2023.
DESTACADOS
· STRONG OPERATIONAL PERFORMANCE
· INCREASED PRODUCTION
· RETURN TO PROFITABILITY, DESPITE FALL IN GAS PRICES
RESUMEN FINANCIERO
· Revenue for the period was £3.4 million (1H FY23: £11.1 million) reflecting the significant fall in average Dutch TTF gas prices during the period to ?38.56/MWh (1H FY23 ?151.77/MWh)
· Operating costs reduced to £15.8 per barrel of oil equivalent (1H FY23 £20.1), resulting in robust cashflow from operations of £2.0 million (1H FY23: £11.8 million), equivalent to 1.8 pence per share
· Profit for the period was £0.7m, delivering earnings per share of 0.7p, and providing a stable foundation for future growth (1H FY23: £14.0m loss)
· Total assets of £27.1 million at 31 December 2023, equal to 24.8 pence per share
· Healthy cash balances of £9.2 million at 31 December 2023 (30 June 2023: £11.6 million), equal to 8.4 pence per share
· No remaining offshore decommissioning liabilities as at 31 December 2023 following completion of final UKCS abandonment projects over the last 18 months
· Parkmead's modest gross debt continues to reduce, with £0.8 million outstanding at 31 December 2023 (30 June 2023: £0.9 million)
STRATEGY & PROJECT OUTLOOK
Excellent operating performance from Netherlands onshore gas fields
· Average gross production for the period across the Group's Netherlands assets was 19.9 million cubic feet per day ("MMscfd"), approximately 3,540 barrels of oil equivalent per day ("boepd")
· Parkmead achieved net production of 289boepd during the period, an 8% increase from the same period in 2022
· Following its temporary shut in to allow optimisation work to be carried out, LDS-01 came back onstream during the second half of the period. There has been a strong contribution from this well on the Diever concession which has outperformed the P10 estimate (high case)
Continued development of Parkmead's renewable energy portfolio
· Operational performance at the Kempstone Hill Wind Farm has remained strong, with electricity production uptime averaging 91% across the period
· Environmental studies are ongoing at Pitreadie forming part of a major wind farm plan for up to 100MW across this area
· Discussions are progressing with a major European renewable energy developer regarding a potential joint venture for this project
· The land owned by the Company at Pitreadie also has the potential for Solar PV, with concept studies ongoing regarding the feasibility of a 50MW development
· Parkmead is also conducting a study on a new site in Scotland which has the potential for a further 30MW solar farm
· The Company is evaluating options to increase electricity generating capability at Kempstone Hill, in order to utilise spare grid capacity to boost cashflow
Well planning activities underway on the exciting Skerryvore exploration targets
· Parkmead has successfully driven forward the Skerryvore project, alongside its strong industry partner group on this licence
· Good progress has been made on well planning, site survey contractor selection, and the identification and sourcing of critical path long lead items
· The crucial offshore surveys are currently scheduled to take place in the second half of 2024, to deliver the planned well in early 2025
· This exploration well will penetrate the Tor and Mey intervals of these stacked prospects, which represent the targets which are the largest and with the highest geological chance of success
· The Company is looking at all options to maximise the commercial benefit by collaborating with other operators to share fixed costs such as rig mobilisation
Major increase in oil and gas resources, following the successful award of new blocks in the UKCS 33rd Offshore Licensing Round
· As previously announced, Parkmead has been provisionally awarded three new offshore blocks by the North Sea Transition Authority ("NSTA")
· The new award contains seven undeveloped discoveries, the largest of which is Fynn Beauly (gross resource estimate 292mmboe)
· This is the first time that the Fynn Beauly accumulation has been licensed to a single partner group, creating an exciting opportunity for Parkmead (50% stake) and its partner, Orcadian Energy (50%) to advance the development of this substantial resource
· Following the licence award, Parkmead's total 2C Resource estimate across its UK and Netherlands portfolios now totals 245.6mmboe
Focused on growth - actively reviewing further acquisitions
· Parkmead is evaluating further acquisition opportunities in each of its core areas of activity - renewables, gas and oil. We are focused on targets which are immediately cashflow accretive or where we can utilise our in-house technical expertise to create significant value
El presidente ejecutivo de Parkmead, Tom Cross, comentó:
"I am pleased to report strong operating performance achieved by Parkmead in the six-month period to 31 December 2023, despite lower gas prices. The excellent production rates from our onshore Netherlands gas fields have allowed Parkmead to return to profitability, setting a base for future success.
The stable electricity revenue generated by our Kempstone Hill wind farm, against a back drop of falling international gas prices, demonstrates the importance of our strategy to continue growing our renewable energy income sources. We are continually reviewing both development and operational asset acquisition opportunities to increase the breadth and scale of our portfolio, as we aim to deliver our goal of 50% of Group revenues from renewable assets.
Parkmead is committed to playing its part in the energy transition, through its growing renewable projects. In parallel, we are continuing to maximise the value of our full cycle E&P business. We were delighted by the successful award of the Fynn area Licence in the 33rd round, and are making good progress towards our operated exploration well at Skerryvore. The Parkmead team is working hard to deliver this project over the coming year."
El grupo Parkmead plc | +44 (0) 1224 622200 |
Tom Cross (Presidente Ejecutivo) | |
Andrew Smith (Director Ejecutivo - Desarrollo Comercial) | |
Cavendish Capital Markets Limitado | +44 0 20 7220 0500 |
Marc Milmo / Seamus Fricker - Finanzas corporativas | |
Iain MacArthur - Sales |
Resumen Financiero
During the six-month period to 31 December 2023, the Group generated revenue of £3.4 million (1H FY23: £11.1 million) because Dutch TTF gas prices fell significantly from the previous historic highs which were brought about by the war in Ukraine. Average realised gas prices during the period were ?38.56/MWh, compared with ?151.77/MWh in the comparative period.
The Group's high-quality onshore asset base in the Netherlands has achieved excellent operational results, with production over the six-month period ending 31 December 2023 totalling 289boepd, an 8% increase year on year (1H FY23: 268boepd). Parkmead's 100% owned and operated wind farm, Kempstone Hill, has continued to perform strongly and achieved average operational uptime of over 91% in the period.
Operating costs for the Dutch producing assets were managed carefully, and reduced to £15.8/boe in the period (1H FY23: £20.1/boe). Administrative expenses also reduced to £0.9 million (1H FY23: £2.0 million) which included a credit in respect of a non-cash revaluation of share appreciation rights totalling £0.3 million (1H FY23: expense £0.8 million). These factors drove Cashflow from Operations of £2.0m (1H FY23: £11.8m). Taxation for the period was £0.2 million (1H FY23: £4.8 million), with no additional windfall tax accruing in the period. Based on current information no further Dutch windfall tax is expected to be incurred.
These strong operational results have allowed Parkmead to successfully return to the black, generating £0.7m in profits in the period (1H FY23: £14.0m loss).
Parkmead continues to maintain a healthy balance sheet with total assets at 31 December 2023 of £27.1 million (30 June 2023: £28.6 million). Cash and cash equivalents at 31 December 2023 were £9.2 million (30 June 2023: £11.6 million), equivalent to 8.4 pence per share. This cash balance at period end is after a £2.8 million cash spend on decommissioning activities in the six months to 31 December 2023. The Company has no further exposure to offshore UKCS decommissioning costs. Short term decommissioning provisions at 31 December 2023 were therefore £nil (30 June 2023: £2.8 million). Our modest debt has continued to reduce to £0.8 million (30 June 2023: £0.9 million). This debt was inherited as a result of the acquisition of Kempstone Hill Wind Energy Limited in 2022.
Revisión de actividades
UK Renewable Energy
The acquisition of the operational Kempstone Hill wind farm in February 2022 was a complementary addition to our organic renewable energy projects at Pitreadie. Since the integration of this asset, we have continued to achieve outstanding turbine uptime, averaging 91% across the six-months to 31 December 2023. Revenue from the wind farm was £301,000 for the six months to 31 December 2023 (1H FY23: £343,000) due to lower wholesale electricity prices in the period.
At Pitreadie, commercial discussions continue to progress with a potential European joint venture partner to develop this area. Following positive results from initial studies, further environmental surveys are scheduled throughout 2024 to support the planning work required to unlock a major 100MW wind farm application on this site. In addition, the land owned by the Company at Pitreadie has the potential for Solar PV, with the Company already undertaking concept studies on the feasibility of a 50MW development.
As part of its renewables strategy, Parkmead is also conducting a study on a new site in Scotland which has the potential for a further 30MW solar farm.
Parkmead will continue its strategy of building its renewable energy portfolio through further acquisitions of producing assets as well as driving forward its existing projects in wind and solar energies. The Board remains focused on its strategic objective of delivering 50% of Group revenues from renewable assets.
Onshore Netherlands Gas
Parkmead's onshore gas portfolio has achieved strong operating results during the first half of FY24. Net to Parkmead, the fields produced at an average rate of 289boepd representing an 8% year-on-year increase in production (1H FY23: 268boepd).
As previously announced, the Diever-02 well was temporarily shut-in in October to allow the successful new discovery well LDS-01 to be brought onstream. The total volume of gas produced from LDS-01 has now significantly exceeded the predicted P10 (high case) gas reserves case.
Following a successful mini-coil clear-out in late 2023 on the Geesbrug concession, production from GSB-01 came back strongly at rates approximately fifty percent greater than previously. Geesbrug continues to be Parkmead's biggest producer outside of the prolific Drenthe VI concession.
Parkmead continues to work alongside its partner Vermillion to progress the Papekop development. The partnership are aiming to make a final investment decision on this opportunity in late 2024.
Petróleo y gas del Reino Unido
Skerryvore
Parkmead (50%) has been approved as Exploration Operator by the NSTA, in what will be the Company's first operated exploration well offshore UK. Parkmead's joint venture partners on the licence are Serica Energy (UK) Limited (20%) and CalEnergy (Gas) Limited (30%).
The Company's detailed technical work programme has confirmed the considerable multi-interval potential of Skerryvore. The planned well will penetrate the main stacked exploration prospects, at Mey and Tor intervals, which studies indicate could contain significant volumes of light oil, with potential recoverable reserves of over 130mmboe gross. The sub-surface team believe there is a high geological chance of success at the Mey of c.43% as this area is surrounded by fields producing from the same target interval. The licence also contains additional prospectivity at the Ekofisk and Jurassic levels. A successful discovery would allow for a tieback to nearby infrastructure in line with the NSTA's MER and Hub Strategy for new developments.
Parkmead has made good progress in several key areas, including well planning, site survey contractor selection, and the successful identification and sourcing of critical path long lead items. The Company prides itself on its ability to work efficiently with both the supply chain and other licence operators to achieve mutually beneficial commercial results. Part of this effort has been to achieve an optimal rig slot as part of a wider, multi-operator drilling campaign, or 'Rig Club'. Parkmead is now planning to drill Skerryvore in early 2025 and is working hard to maximise the commercial benefit from collaborating with other operators to share costs where possible, such as rig mobilisation.
UKCS 33rd Offshore Oil and Gas Licensing Round
As previously announced, Parkmead has been provisionally awarded three new offshore blocks by the North Sea Transition Authority ("NSTA") in Tranche 2 of the UK's 33rd Licensing Round awards.
This important award consists of a licence covering Blocks 14/15a, 14/20d and 15/11a situated in the Central North Sea. Parkmead will be operator and hold a 50% working interest, alongside its partner Orcadian Energy (CNS) Limited. The new licence contains seven undeveloped oil discoveries within Mesozoic and Palaeozoic reservoirs. The most substantial of these is the major Fynn Beauly accumulation.
Fynn Beauly is one of the biggest undeveloped oil fields in the UK, with estimated gross P50 contingent resources of 292 million barrels. This large heavy oil discovery is situated between the prolific Claymore and Piper fields. The field extends across all three awarded blocks and is estimated to contain oil-in-place of between 740 million and 1.3 billion barrels. This is an important award because the acreage which encapsulates this significant oil field has not previously been licensed to a single partner group, creating an exciting opportunity for Parkmead and Orcadian to advance the development of this substantial, previously untapped resource.
The current licence commitment requires no major capital outlay, with the work programme focusing on assessing the feasibility of reducing Fynn Beauly oil viscosity using enhanced oil recovery techniques. This work will include assessing the potential to utilise geothermal energy as part of the recovery mechanism. This could pave the way for the delivery of a successful development of this major field which is in line with the NSTA's Net Zero Strategy.
Outlook
Notwithstanding the sector headwinds, Parkmead has delivered strong operational performance from its diversified energy portfolio in the six-month period to 31 December 2023. The progression of our Skerryvore project in the Central North Sea and the addition of new blocks awarded in the 33rd licencing round, provides multiple opportunities for Parkmead to create additional value. The Company continues to review accretive acquisition targets, particularly those which would add immediate cashflow or where we can create significant value by leveraging our in-house technical expertise. Furthermore, the Group has a valuable asset in the form of its UK Ring Fence tax loss pool, which was in excess of £188m at 30th June 2023. This can be utilised against future UK production. The Board is examining all options to maximise shareholder value from this asset. The Directors are confident that the Parkmead team is well positioned to drive the business forward and to build upon the achievements already made to date.
Tom Cross
Presidente Ejecutivo
28 de marzo de 2024
1. Tim Coxe, Parkmead Group's Managing Director, North Sea, who holds a First-Class Master's Degree in Engineering and over 30 years of experience in the oil and gas industry, has overseen the review and approval of the technical information contained in this announcement. Tim is accountable for the company's HSE, Subsurface, Drilling, Production Operations and Project functions. Parkmead's evaluation of reserves and resources was prepared in accordance with the 2007 Petroleum Resources Management System prepared by the Oil and Gas Reserves Committee of the Society of Petroleum Engineers and reviewed and jointly sponsored by the World Petroleum Council, the American Association of Petroleum Geologists and the Society of Petroleum Evaluation Engineers.
A glossary of key terms can be found at https://www.nstauthority.co.uk/site-tools/glossary-of-terms/
Condensed Consolidated statement of profit and loss and other comprehensive income
por los seis meses terminados el 31 de diciembre de 2023
Seis meses al 31 de diciembre de 2023 | Seis meses hasta el 31 de diciembre de 2022 | Doce meses hasta el 30 de junio de 2023 | ||
(No auditado) | (No auditado) | (auditado) | ||
| Notas | 000 £ | 000 £ | 000 £ |
Operaciones continuas | ||||
Ingresos | 3,426 | 11,124 | 14,769 | |
El costo de ventas | (1,530) | (1,331) | (2,237) | |
Beneficio bruto | 1,896 | 9,793 | 12,532 | |
Gastos de exploración y evaluación | 2 | (88) | (153) | (33,009) |
Impairment of property, plant and equipment: development & production | - | (12,733) | (13,030) | |
Gain / (loss) on sale of assets | - | 10 | 36 | |
Gastos administrativos | 3 | (876) | (2,049) | (1,753) |
Ganancia / (pérdida) operativa | 932 | (5,132) | (35,224) | |
Ingresos financieros | 85 | 81 | 192 | |
Costos financieros | (106) | (113) | (267) | |
Beneficio / (pérdida) antes de impuestos | 911 | (5,164) | 35,299 | |
Taxation | (163) | (4,770) | (4,661) | |
Impuestos extraordinarios | - | (4,044) | (2,374) | |
Profit / (loss) for the period attributable to the equity holders of the Parent | 748 | (13,978) | (42,334) | |
| ||||
Profit / (loss) Per share (pence) |
| |||
Basic | 5 | 0.68 | (12.79) | (38.74) |
Diluido | 0.62 | (12.79) | (38.74) |
Condensed Consolidated statement of financial position
a 31 de diciembre de 2023
| 31 de diciembre 2023 | 31 de diciembre 2022 | 30 de junio de 2023 | |
| Notas | (No auditado) | (No auditado) | (auditado) |
| 000 £ | 000 £ | 000 £ | |
|
|
|
| |
Activos no corrientes |
|
|
| |
Propiedad, planta y equipo: desarrollo y producción | 4,349 | 4,370 | 4,503 | |
Propiedades, planta y equipo: otros | 5,879 | 6,200 | 5,600 | |
Goodwill | 1,084 | 1,084 | 1,084 | |
Activos de exploración y evaluación | 2,267 | 34,369 | 1,966 | |
Activos por impuestos diferidos | - | 187 | - | |
Total del activo no corriente | 13,579 | 46,210 | 13,153 | |
|
|
|
| |
Activos circulantes |
|
|
| |
Cuentas comerciales y otras cuentas por cobrar | 1,330 | 1,973 | 941 | |
Préstamos que devengan intereses | 4 | 2,937 | 2,937 | 2,936 |
Inventario | 5 | 17 | 16 | |
Efectivo y equivalentes de efectivo | 9,204 | 19,179 | 11,576 | |
Total de activos corrientes | 13,476 | 24,106 | 15,469 | |
|
|
|
| |
los activos totales | 27,055 | 70,316 | 28,622 | |
|
|
|
| |
Pasivo circulante |
|
|
| |
Comerciales y otras cuentas a pagar | (3,568) | (10,666) | (2,673) | |
Disposiciones de desmantelamiento | - | (4,562) | (2,773) | |
Windfall taxes | (2,398) | - | - | |
Pasivos por impuestos corrientes | (1,809) | (2,848) | (2,263) | |
Total pasivo corriente | (7,775) | (18,076) | (7,709) | |
|
|
|
| |
Pasivos no corrientes |
|
|
| |
Otros pasivos | (893) | (1,242) | (942) | |
Préstamo | (718) | (905) | (767) | |
Pasivos por impuestos diferidos | (641) | (1,925) | (641) | |
Windfall taxes | - | (4,044) | (2,374) | |
Disposiciones de desmantelamiento | (1,590) | (1,108) | (1,529) | |
Total pasivo no corriente | (3,842) | (9,224) | (6,253) | |
|
|
|
| |
Pasivos totales | (11,617) | (27,300) | (13,962) | |
|
|
|
| |
Activos netos | 15,438 | 43,016 | 14,660 | |
|
|
|
| |
Patrimonio atribuible a los accionistas |
|
|
| |
Llamado capital social | 19,688 | 19,688 | 19,688 | |
Compartir premium | 83,625 | 83,625 | 83,625 | |
Reserva de fusión | 3,376 | 3,376 | 3,376 | |
Déficit retenido | (91,251) | (63,673) | (92,029) | |
Equidad total | 15,438 | 43,016 | 14,660 |
Condensed Consolidated statement of changes in equity
por los seis meses terminados el 31 de diciembre de 2023
Capital social | Compartir premium | Reserva de fusión | Déficit retenido | Total | |
000 £ | 000 £ | 000 £ | 000 £ | 000 £ | |
Al 30 de junio de 2022 | 19,688 | 83,625 | 3,376 | (49,695) | 56,994 |
Pérdida del período | - | - | - | (13,978) | (13,978) |
Pérdida integral total del año | - | - | - | (13,978) | (13,978) |
Pagos basados en acciones | - | - | - | - | - |
Al 31 de diciembre de 2022 | 19,688 | 83,625 | 3,376 | (63,673) | 43,016 |
Pérdida del período | - | - | - | (28,356) | (28,356) |
Pérdida integral total del año | - | - | - | (28,356) | (28,356) |
Pagos basados en acciones | - | - | - | - | - |
Al 30 de junio de 2023 | 19,688 | 83,625 | 3,376 | (92,029) | 14,660 |
Beneficio del período | - | - | - | 748 | 748 |
Resultado integral total del año | - | - | - | 748 | 748 |
Pagos basados en acciones | - | - | - | 30 | 30 |
Al 31 de diciembre de 2023 | 19,688 | 83,625 | 3,376 | (91,251) | 15,438 |
Condensed Consolidated statement of cashflows
por los seis meses terminados el 31 de diciembre de 2023
| Seis meses al 31 de diciembre de 2023 | Seis meses hasta el 31 de diciembre de 2022 | Doce meses hasta el 30 de junio de 2023 |
| (No auditado) | (No auditado) | (auditado) |
| 000 £ | 000 £ | 000 £ |
|
|
|
|
Flujos de efectivo por actividades operacionales |
|
|
|
Flujos de efectivo de las operaciones | 2,044 | 11,779 | 11,414 |
Impuestos pagados | (645) | (3,203) | (4,881) |
Efectivo neto generado por actividades operativas | 1,399 | 8,576 | 6,533 |
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|
| |
Flujo de caja de las actividades de inversión |
|
|
|
Interés recibido | 85 | 81 | 192 |
Adquisición de activos de exploración y evaluación | (301) | (253) | (519) |
Ingresos por venta de propiedades, planta y equipo | - | 163 | 654 |
Adquisición de propiedad, planta y equipo: desarrollo y producción | (122) | (275) | (950) |
Adquisición de propiedades, planta y equipo: otros | (461) | - | (87) |
Gastos de clausura | (2,773) | (12,754) | (16,983) |
Efectivo neto utilizado en actividades de inversión | (3,572) | (13,038) | (17,693) |
|
|
| |
Flujo de caja de actividades de financiación |
|
|
|
Pagos de arrendamiento | (88) | (168) | (229) |
Pago interesado | (54) | (31) | (136) |
Reembolso de préstamos y empréstitos | (47) | (43) | (88) |
Efectivo neto utilizado en actividades de financiación. | (189) | (242) | (453) |
|
|
|
|
Aumento / (disminución) neto de efectivo y equivalentes de efectivo | (2,362) | (4,704) | (11,613) |
Efectivo y equivalentes de efectivo al comienzo del período | 11,576 | 23,263 | 23,263 |
Efecto de las diferencias de tipo de cambio | (10) | 620 | (74) |
Efectivo y equivalentes de efectivo al final del período | 9,204 | 19,179 | 11,576 |
Notas a los estados financieros intermedios
1. Políticas contables
Información General
These condensed consolidated interim financial statements of The Parkmead Group plc and its subsidiaries (the "Group") were approved by the Board of Directors on 28 March 2024. The Parkmead Group plc is the parent company of the Group. Its shares are quoted on AIM, part of the London Stock Exchange. The registered office is located at One Angel Court, 13th Floor, London, England, EC2R 7HJ.
The condensed consolidated interim financial statements for the period 1 July 2023 to 31 December 2023 are unaudited. In the opinion of the Directors, the condensed consolidated interim financial statements for the period presents fairly the financial position, and results from operations and cash flows for the period in conformity with the generally accepted accounting principles consistently applied. The condensed consolidated interim financial statements incorporate unaudited comparative figures for the interim period 1 July 2022 to 31 December 2022 and the audited financial year ended 30 June 2023.
The financial information set out in this interim report does not constitute statutory accounts as defined in Section 434 of the Companies Act 2006. The Group's statutory accounts for the year ended 30 June 2023 which were prepared under UK-adopted International Accounting Standards ("IFRS") were filed with the Registrar of Companies. The auditors reported on those accounts and their report was unqualified and did not contain a statement under either Section 498 (2) or Section 498 (3) of the Companies Act 2006 and did not include references to any matters to which the auditor drew attention by way of emphasis.
Base de preparación
The interim financial information in this report has been prepared under the historical cost convention using accounting policies consistent with UK-adopted International Accounting Standards (IFRS) and IFRS Interpretations Committee (IFRIC) interpretations. IFRS is subject to amendment and interpretation by the International Accounting Standards Board (IASB) and IFRIC and there is an ongoing process of review and endorsement by the UK. The financial information has been prepared on the basis of UK-adopted international accounting standards that the Directors expect to be adopted and applicable as at 30 June 2023.
The Group has chosen not to adopt IAS 34 - Interim Financial Statements, in preparing these financial statements.
The accounting policies applied in this report are the same as those applied in the consolidated financial statements for the year ended 30 June 2023.
Preocupación continua
The Directors have made an assessment of the Group's ability to continue as a going concern. As at 31 December 2023 the Group had £15.4 million of net assets of which £9.2 million is held in cash, of which £0.2 million is held as restricted cash.
The Group's current cash reserves are the principal source of funding and are expected to more than exceed its estimated liabilities. Based on these circumstances, the Directors have considered it appropriate to adopt the going concern basis of accounting in preparing these interim results.
2. Exploration and evaluation expenses
Exploration and evaluation expenses includes impairment charges of £nil recorded in respect of exploration licences relinquished in the period (Six months to 31 December 2022: £18,000, Twelve months to 30 June 2023: £32,834,000).
3. Gastos administrativos
Administrative expenses include a credit in respect of a non-cash revaluation of share appreciation rights (SARs) totalling £306,000 (Six months to 31 December 2022: £800,000 charge, Twelve months to 30 June 2023: £961,000 credit). The SARs may be settled by cash or shares and are therefore revalued with the movement in share price.
Administrative expenses also includes a non-cash share based payment charge of £30,000 due to options which have been granted, lapsed or forfeited (Six months to 31 December 2022: £nil, Twelve months to 30 June 2023: £nil).
Administrative expenses also include a foreign exchange expense of £10,000 (Six months to 31 December 2022:
£620,000 gain, Twelve months to 30 June 2023: £74,000 expense).
4. Interest bearing loans
On 27 July 2017, The Parkmead Group plc entered into a credit facility with Energy Management Associates Limited, whereby Parkmead agreed to lend up to £2,900,000 to Energy Management Associates Limited to gain exclusive first rights to a number of renewable energy opportunities. This arrangement has been of major benefit to Parkmead, leading to its ownership of the Pitreadie land and wind farm project and the Kempstone Hill wind farm acquisition. In addition, further new renewable project opportunities, in wind and solar energy, are being opened up through this arrangement.
The loan has a period of one year, with a fixed interest rate of 2.5 per cent. Interest charged by Parkmead during the period amounted to £37,000 (Six months to 31 December 2022: £37,000, Twelve months to 30 June 2023: £73,000). The loan is repayable on 27 July 2024.
5. Profit / (loss) per share
Profit / (loss) per share attributable to equity holders of the Company arise as follows:
Seis meses al 31 de diciembre de 2023 | Seis meses hasta el 31 de diciembre de 2022 | Doce meses hasta el 30 de junio de 2023 | |
(No auditado) | (No auditado) | (auditado) | |
Pérdida de beneficios) para 1.5p ordinario comparte (peniques) | |||
Basic | 0.68 | (12.79) | (38.74) |
Diluido | 0.62 | (12.79) | (38.74) |
Los cálculos se basaron en la siguiente información:
Seis meses al 31 de diciembre de 2023 | Seis meses hasta el 31 de diciembre de 2022 | Doce meses hasta el 30 de junio de 2023 | |
(No auditado) | (No auditado) | (auditado) | |
000 £ | 000 £ | 000 £ | |
Profit /(loss) attributable to ordinary shareholders | 748 | (13,978) | (42,334) |
| |||
Número medio ponderado de acciones emitidas | |||
Número medio ponderado básico de acciones | 109,266,931 | 109,266,931 | 109,266,931 |
Acciones ordinarias potenciales dilutivas | |||
Compartir opciones | 11,951,345 | 10,778,154 | 11,951,345 |
Basic profit / (loss) per share is calculated by dividing the loss for the period by the weighted average number of ordinary shares outstanding during the period.
Diluted earnings per share is calculated by dividing the profit / (loss) for the period by the weighted average number of ordinary shares outstanding during the period plus the weighted average number of ordinary shares that would be issued on conversion of all the dilutive potential ordinary shares into ordinary shares.
Ganancia/(pérdida) diluida por acción
Profit / (loss) per share requires presentation of diluted loss per share when a company could be called upon to issue shares that would decrease net profit or net loss per share. When the Group makes a loss the outstanding share options are anti-dilutive and so are not included in dilutive potential ordinary shares.
6. Notes to the statement of cashflows
Reconciliation of operating profit / (loss) to net cash flow from operations
Seis meses al 31 de diciembre de 2023 | Seis meses hasta el 31 de diciembre de 2022 | Doce meses hasta el 30 de junio de 2023 | |
000 £ | 000 £ | 000 £ | |
Ganancia / (pérdida) operativa | 932 | (5,132) | (35,224) |
Depreciación | 458 | 326 | 722 |
Amortización y castigo de exploración | - | 18 | 32,834 |
(Gain) / loss on sale of property, plant and equipment | - | (10) | (36) |
Provisión para pagos basados en acciones | 30 | - | - |
Ajustes de conversión de moneda | 10 | (620) | 74 |
Impairment of property, plant and equipment: development & production | - | 12,733 | 13,030 |
(Increase) / decreases in receivables | (389) | 45 | 1,077 |
Disminución de existencias | 11 | 25 | 26 |
Aumento/(disminución) de cuentas por pagar | 992 | 4,394 | (1,089) |
Flujo de efectivo neto de las operaciones | 2,044 | 11,779 | 11,414 |
RNS puede usar su dirección IP para confirmar el cumplimiento de los términos y condiciones, para analizar cómo interactúa con la información contenida en esta comunicación y para compartir dicho análisis de forma anónima con otros como parte de nuestros servicios comerciales. Para obtener más información sobre cómo RNS y la Bolsa de Valores de Londres utilizan los datos personales que nos proporciona, consulte nuestra Política de privacidad.