Ann: FY 2017 Results Presentation, page-37

https://www.********.au/2018/03/23/galaxy-resources-limited-posts-full-year-ebitda-of-52-million/

Galaxy Resources Limited posts full-year EBITDA of $52 million

James Mickleboro | March 23, 2018 | More on: GXY

Credit: iStock
In morning trade the Galaxy Resources Limited (ASX: GXY) share price has fallen lower with the market despite the release of an update on its drilling activities and a strong full-year result.
At the time of writing the lithium miner’s shares are down 1.5% to $3.33.
What was in the update?
Following 12 months of mining and processing operations at Mt Cattlin, together with comprehensive reverse circulation and grade control drilling campaign, the company has significantly improved its geological interpretation of the Mt Cattlin resource.
According to the update, as of 31 December 2017 Mt Cattlin was estimated to contain 11.6 million tonnes at 1.2% Li2O or 140 thousand tonnes of contained Li2O metal.
What about its financial results?
Galaxy also released its FY 2017 results today for the 12 months ended December 31, This release revealed earnings before interest, tax, depreciation and amortisation (EBITDA) of $52 million on revenue of $125.6 million.
This led to net operating cash flow of $57.1 million, leaving the company with a cash balance of $59.7 million.
During the 12 months Galaxy produced 155.7k tonnes of spodumene but finished the year on a production run rate of 209k tonnes per annum. This should mean a significant increase in production in FY 2018.
Galaxy reported an average realised selling price of US$783/dmt for the 12 months. In the fourth-quarter the price rose to US$868/dmt.
Pleasingly, costs went the other way. The average realised production costs were US$346/dmt for the year but US$325/dmt for the final quarter.
Overall, I believe this puts Galaxy in a position to generate bumper profit growth in FY 2018. And had the market not plunged lower today I think this would have been reflected in its share price performance.