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Coronavirus: De Beers Dips into the Red February 28, 21 by John Jeffay (IDEX Online) - De Beers posted a $102m loss for 2020 as the pandemic took its toll, compared with a $45m profit the previous year. It s the first time it s dipped into the red since 2008, when parent company Anglo American provided an $800m rescue package of interest-free loans. Underlying EBITDA (earnings before interest, taxes, depreciation, a nd amortization) for last year fell to $2m (30 June 2019: $518m) as lower sales volumes and the lower rough price index reducing margins in both the mining and the trading businesses. Total revenue was down 54 per cent to $1.2bn (30 June 2019: $2.6bn) and rough diamond sales fell to $1.0bn (30 June 2019: $2.3bn). ....
25 February 2021 Interim highlights Domestic capacity 76 percent of pre-Covid levels, led by robust domestic tourism and the return of business demand during the first half of the 2021 financial year Cargo revenue up 91 percent on the same period last year, supported by the Government’s International Airfreight Capacity scheme (IAFC) Short-term liquidity of just over $700 million as at 23 February 2021, made up of approximately $170 million cash and $550 million undrawn funds on the Government standby loan facility (the Crown facility) Continued cost discipline has resulted in a significant decline in cash burn to an average of $79 million per month from September 2020 through January 2021. For the remaining five months of the financial year, average monthly cash burn is expected to be in the range of $45 million to $55 million ....