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Group net profit was US$556 million for the year 2009 just slightly below the record net profit level of US$577 million in 2008. Excluding one off items, adjusted net profit was US$430 million compared to US$438 million for the year 2008. The Group’s adjusted net profit margin improved to 1.38% for the year 2009 compared to 1.21% for the year 2008. Chairman Richard Elman noted, “Noble’s 2009 results demonstrate the breadth of our business platform. We have a focused business strategy, one where we continue to expand our production and sourcing in low cost markets for delivery to high growth demand markets. We have built a diversified business mix across all major bulk commodities, and now with the expansion of our Oil, Gas & Power activities, we see another opportunity to build a global business.” CEO Ricardo Leiman noted, “This has been a terrific year for Noble. We made great progress in our investments with many of our key projects now or soon completed. These will add new income growth for the Group and create a more competitive business for the future.” Mr. Leiman added, “We are very pleased to announce to our shareholders a 30% return on equity for 2009. This is quite an achievement given the challenging market conditions.” Fiscal 2009 has also been particularly noteworthy for Noble as the Group has been able to conclude several landmark transactions. The investment by the China Investment Corporation strengthened the Group’s capital base, and brought a welcome, strong and long-term investor. The Group’s highly successful 10 year bond issue of US$850 million was accompanied a repurchase of US$488 million in existing bond debt which lengthened our debt maturity profile. During the year the Group also signed over US$3 billion in new or extended committed credit facilities which created additional liquidity and funding for growth as well. Mr. Leiman concluded, “Noble is emerging from the economic recession as a more successful, more profitable and better capitalized company. This is an achievement which has been years in the making and on behalf of the Board I want to thank all our stakeholders for their ongoing support and commitment.” About Noble Group Noble Group (SGX: N21) is a market leader in managing the global supply chain of agricultural, industrial and energy products. The Group operates from over 100 offices in more than 40 countries, serving 4000+ customers. Noble manages a diversified portfolio of essential raw materials, integrating the sourcing, marketing, processing, financing and transportation. With 2009 annual revenues exceeding US$31billion, Noble owns and manages an array of strategic assets, sourcing from low cost producers such as Brazil, Argentina, Australia and Indonesia and supplying to high growth demand markets including China, India and the Middle East. Today, Noble has interests in grain crushing facilities, coal and iron ore mines, fuel terminals and storage facilities, sugar and ethanol plants, vessels, ports and other infrastructure to ensure high quality products are delivered in the most efficient and timely manner to its customers. In late 2009, Noble Group was honored at the DHL SCMP Hong Kong Business Awards by winning the coveted International Award. During the year, Noble ranked #218 on the Fortune Global 500 and achieved "Investment Grade" ratings (Baa3) from Moody's Investors Service and (BBB-) from Standard & Poor's, complementing its initial "Investment Grade" rating (BBB-) from Fitch the previous year. In addition, Noble appears on the Forbes Global 2000 and Forbes Fab 50 lists of leading companies. Noble Group is among the 30 securities listed on the Straits Times Index. Noble Group |
Noble Reports Record Tonnage Volume for the Year ended December 31, 2009