Financial performance
EBITDA for the full year was $1,626.1 million, 78.7% higher than the previous year as operating costs (before exceptional items) fell by 8.1% and revenue increased by 12.3%
EBITDA margin(2) strengthened to 44.9%, up from 28.2% in the same period last year, and 40.8% in first six months of 2016 as prices and volumes increased in the second half of the year
Operating cash flow generation of $1,457.3 million, up 69.8% compared to same period last year on the back of stronger margins and higher production
Capital expenditure down by 24.2% to $795.1 million, compared to 2015 as the Antucoya project and Centinela expansion were completed during the year.
Operating cost reduction of $242 million, of which $176 million was achieved under the Cost and Competitiveness Programme reducing mine site costs by 11c/lb.
Exceptional items during the year of $386.4 million after tax, which includes the previously announced write off of the Group's interest in Alto Maipo, and an impairment charge against Antucoya.
Earnings per share from continuing operations and before exceptional items of 34.7 cents per share, a 35.2 cents increase on 2015.
Earnings per share from continuing and discontinued operations after exceptional items of 16.0 cents per share as reported in the financial statements, compared to 61.7 cents per share in the previous year.
Final dividend of 15.3 cents per share declared, bringing the total dividend for the year to 18.4 cents per share, a 15.3 cents per share increase compared to 2015 and, at 53%, is above the Company's minimum payout policy of 35% of underlying net earnings per share.
