Antofagasta increases its 2017 interim dividend by 232%

DividendMax Ltd.

Antofagasta increases its 2017 interim dividend by 232%

Antofagasta 2017 interim results

Revenue 41.9% higher at $2,049 million, as realised copper prices increased by 25.3% and sales volumes increased by 14.3%

EBITDA increased 87.8% to $1,079.8 million mainly due to higher revenues

EBITDA margin strengthened to 52.7%, up from 39.8% in the same period last year and 44.9% for the full year 2016

Operating cost reductions of $44 million achieved, as part of the Costs and Competitiveness Programme, contributing to savings of $0.06/lb in cash costs during the current period

Operating profit and net earnings per share rose by 149.9% and 231.5% respectively

Operating cash flow generation of $1,147 million in the period, up 48.2%

Capital expenditure of $410.0 million, 46% of full year guidance

Group net debt reduced by $212.1 million to $859.6 million, since the end of 2016 reducing Net Debt/EBITDA to 0.4 times or 0.2 times if subordinated shareholder loans are excluded

Interim dividend of 10.3 cents per share, a 232.3% increase on last year's interim dividend and equivalent to a payout ratio of 35%.


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