Financial highlight
- Revenue of $818.0 million (2011: $987.7 million)
- Adjusted EBITDA of $384.8 million (2011: $563.4 million)
- EPS of $0.19 (2011: $0.49)
- Strong financial position with a year-end cash balance of $359 million[2]
- Minority investments valued at $256 million[3]
- Proposed final dividend of $0.03 per share, bringing the total dividend for 2012 to $0.06 per share
Commenting on the results, Ignacio Bustamante, CEO, said:
"I am pleased to report that in the face of a very challenging environment for mining companies we have been able to deliver a very solid performance, meeting our full year production target and delivering a solid set of financial results. We have also received some very promising results from our brownfield and greenfield exploration programmes and have made good progress at our Inmaculada and Crespo Advanced Projects, which will increase our annual production levels by 50%, with the commissioning date for both projects set for the second half of 2014. Finally, the acquisition of Andina Minerals bolstered our project pipeline with its principal asset, the Volcan gold deposit, located in Chile, which is one of our favoured mining jurisdictions. We remain enthusiastic about the significant potential of our current operations and our extensive project pipeline to deliver substantial optionality and shareholder value in the long term."
