For 2021, the Centamin PLC Board announces its intention to recommend a minimum dividend of US$105 million. Today, the Board declares a 4.0 US cent interim dividend to be paid on 30 September, leaving an approximate 5.0 US cent final dividend to be proposed with the 2021 full year results. This reflects the Company's confidence in the outlook for the year, and progress delivering on the reset plans.
Other financial highlights include:
Revenue for the six months ended 30 June 2021 ("H1") was US$367.4 million from gold sales of 203,802 ounces ("oz") at an average realised gold price of US$1,799/oz
Operations, supply chain and gold shipments have not been materially impacted by the COVID-19 pandemic. Related COVID-19 costs were US$6.5 million and within budget
Cash cost of production was US$807/oz produced and all-in sustaining costs ("AISC") were US$1,186/oz sold
EBITDA was US$190.4 million with a 52% EBITDA margin
Profit before tax was US$116.8 million and net profit after tax attributable to shareholders was US$59.5 million, for a basic EPS of 5.16 US cents
Capital expenditure was US$78.3 million as good progress was made on key capital projects such as the solar plant, second tailings storage facility, paste-fill plant, workforce accommodation and facility upgrades
Better than budgeted Group free cash flow of US$16.2 million, after US$56.7 million was distributed in profit share and royalties to their partner, the Arab Republic of Egypt
Strong and flexible balance sheet with available cash and liquid assets of US$312.1 million, as at 30 June 2021 and after payment of the 2020 final dividend of US$34.5 million on 15 June 2021.