Fresnillo slashes 2103 interim dividend

DividendMax Ltd.

Fresnillo slashes 2103 interim dividend

Financial highlights (H1 2013/H1 2012 comparisons)

Average realised silver price US$24.67 per oz, down 20.3%

Average realised gold price US$1,471.67 per oz, down 10.6%

Adjusted Revenue1 of US$982.3m, down 14.0%

Gross Profit of US$518.9m, down 27.0%

EBITDA2 decreased by 29.1% to US$486.3m in line with the EBITDA margin which decreased to 52.5% from 63.2%

Profit attributable to equity shareholders of the Company, excluding Silverstream revaluation effects, decreased by 34.2% to US$225.6m (post-tax Silverstream revaluation effects: US$80.8m loss)

Cash generated by operations before changes in working capital US$496.4m, down 30.7%

Strong balance sheet with cash position as at 30 June 2013 of US$570.8m and no debt

Basic and diluted EPS decreased by 61.1% to US$0.200 per share

Interim dividend 4.90 US cents per share

Companies mentioned