Aeris Annual Report 2022
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<strong>Aeris</strong> Resources Limited<br />
Notes to the consolidated financial statements<br />
30 June <strong>2022</strong><br />
1. Operating segments (continued)<br />
Tritton Cracow Other Total<br />
2021 $'000 $'000 $'000 $'000<br />
Revenue<br />
Sales to external customers 244,216 186,652 - 430,868<br />
Other revenue 362 29 31 422<br />
Total revenue 244,578 186,681 31 431,290<br />
Adjusted EBITDA 75,288 98,079 (8,712) 164,655<br />
Depreciation and amortisation (86,200)<br />
Loss on disposal of subsidiary (2,238)<br />
Finance costs (11,631)<br />
Transaction expense (4,068)<br />
Net foreign exchange gains 1,166<br />
Movement in financial assets at fair value through profit or<br />
loss (444)<br />
Profit before income tax expense 61,240<br />
Income tax expense -<br />
Profit after income tax expense 61,240<br />
Assets<br />
Segment assets 148,860 141,270 84,120 374,250<br />
Total assets 374,250<br />
Total assets includes:<br />
Acquisition of non-current assets 47,126 44,607 1,709 93,442<br />
Liabilities<br />
Segment liabilities 94,117 82,475 13,794 190,386<br />
Total liabilities 190,386<br />
Intersegment transactions<br />
Intersegment transactions were made at market rates and are eliminated on consolidation.<br />
Intersegment receivables, payables and loans<br />
Intersegment loans are initially recognised at the consideration received. Intersegment loans receivable and loans<br />
payable that earn or incur non-market interest are not adjusted to fair value based on market interest rates. Intersegment<br />
loans are eliminated on consolidation.<br />
Major customers<br />
During the year ended 30 June <strong>2022</strong> approximately 64% (2021: 59%) of the consolidated entity's external revenue was<br />
derived from sales to one customer who has the offtake agreement for 100% of the Tritton Copper Operation's copper<br />
concentrate; and 36% (2021: 41%) was derived from sales to one customer with whom the Company has a refining<br />
agreement for the Cracow Gold Operations gold-silver doré.<br />
Accounting policy for operating segments<br />
Operating segments are presented using the "management approach", where the information presented is on the same<br />
basis as the internal reports provided to the Chief Operating Decision Makers ('CODM'). The CODM is responsible for the<br />
allocation of resources to operating segments and assessing their performance.<br />
7<br />
ADVANCING AERIS<br />
83
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