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Andrew Knott, CEO of Savannah Energy #SAVE discusses their 2021 Final Results which showed growth in production, revenue & EBITDA and underlines the sustainability of progress for 2022 and beyond.
Key FY 2021 Financial Highlights
· FY 2021 Total Revenues of US$230.5m (+7% on FY 2020 Total Revenues of US$215.9m2). This is ahead of the Company's previously issued FY 2021 guidance of 'Total Revenues of greater than US$205m';
· Average realised gas price of US$4.19/Mscf (+6% on the 2020 average realised gas price of US$3.96/Mscf) and an average realised liquids price of US$69.9/bbl (+51% compared to the 2020 average realised liquids price of US$46.2/bbl);
· Total cash collections from the Company's Nigerian assets of US$208.2m (+24% on FY 2020 cash collections of US$167.4m)
· Adjusted EBITDA of US$175.0m (+7% on FY 2020 Adjusted EBITDA of US$163.2m2);
· Adjusted EBITDA margin remained broadly unchanged at 76%.
To read the RNS in full click HERE