Petropavlovsk 2103 full year results

DividendMax Ltd.

Petropavlovsk 2103 full year results

2013 Financial Highlights

Group revenue maintained at c.US$1.2 billion (2012: US$1.24 billion), despite a decrease in the realised gold price

Record gold sales of 736,300oz (2012: 703,200oz)

Average realised gold sales price of US$1,519/oz (2012: US$1,670/oz)

Positive contribution of US$107.7 million to revenue and US$146/oz to the average realised gold price from forward contracts of 444,292oz which matured during the year

H2 2013 total average cash costs per ounce ("TCC/oz") of US$920/oz reduced from TCC/oz of US$1,157/oz in H1, with resulting TCC/oz for the year of US$1,016/oz (2012: US$875/oz)

Central administration costs reduced to US$45.8 million (2012: US$60.7 million)

Underlying EBITDA of US$325 million (2012: US$499 million)

Loss from discontinued operations of US$199 million, including US$180 million of exceptional items,  (2012: US$245 million)

Net loss of US$713 million (2012: US$244 million loss), largely attributable to an aggregate of US$679 million of post-tax impairment charges and write-downs

Net cash from operating activities of US$282 million (2012: US$272 million)

Net debt reduction of US$115 million to US$948 million as at 31 December 2013

Companies mentioned