Business
2013 Half Year Results
2013 Half Year Results.
About this update from Antofagasta Plc
[{"type":"text","content":"\n \nRNS Number : 4351M Antofagasta PLC 27 August 2013 \n \n\n \nHalf yearly financial report for the six months ended 30 June 2013\nStrong cash generation; 4.7% increase in dividend \n27 August 2013\n\n\n\n\nSIX MONTHS TO 30 JUNE\n\n\n\n\n\n2013\n\n\n2012\n\n\n% Change\n\n\n\n\nGroup revenue\n\n\nUS$'m\n\n\n2,777.4\n\n\n3,160.8\n\n\n(12.1%)\n\n\n\n\nEBITDA\n\n\nUS$'m\n\n\n1,275.5\n\n\n1,852.7\n\n\n(31.2%)\n\n\n\n\nEarnings per share\n\n\ncents\n\n\n40.1\n\n\n65.5\n\n\n(38.9%)\n\n\n\n\nNet cash at period end (1)\n\n\nUS$'m\n\n\n1,507.6\n\n\n1,340.3\n\n\n12.5%\n\n\n\n\nCash flow from operations\n\n\nUS$'m\n\n\n1,373.5\n\n\n1,774.9\n\n\n(22.6%)\n\n\n\n\nDividend per share \n\n\ncents\n\n\n8.9\n\n\n8.5\n\n\n4.7%\n\n\n\n\nAverage realised copper price \n\n\nUS$/lb\n\n\n3.15\n\n\n3.73\n\n\n(15.5%)\n\n\n\n\nCopper production volumes\n\n\n'000 tonnes\n\n\n364.1\n\n\n336.0\n\n\n8.4%\n\n\n\n\nCopper sales volumes\n\n\n'000 tonnes\n\n\n341.1\n\n\n322.2\n\n\n5.9%\n\n\n\n\nWeighted average cash costs - excluding by-product credits (2)\n\n\nUS$/lb\n\n\n1.76\n\n\n1.61\n\n\n9.3%\n\n\n\n\nWeighted average cash costs - net of by-product credits (2)\n\n\nUS$/lb\n\n\n1.26\n\n\n0.99\n\n\n27.3%\n\n\n\n\nGold production\n\n\n'000 ounces\n\n\n162.9\n\n\n136.1\n\n\n19.7%\n\n\n\n\nMolybdenum production\n\n\n'000 tonnes\n\n\n4.7\n\n\n6.5\n\n\n(27.7%)\n\n\n\n\n \n \n(1) Cash refers to the total of cash, cash equivalents and liquid investments, as analysed in Note 17 to the half yearly financial report.\n(2) Cash cost is a method used by the mining industry to express the cost of production in dollars per pound of copper, and is further explained in Note 22(b(iii)) to the half yearly financial report.\nHighlights\n· Copper production up 8.4% to 364,100 tonnes and gold production increased 19.7% to 162,900 ounces, mainly due to higher plant throughput at Esperanza. \n· Revenue 12.1% lower, at US$2,777.4 million, following the average LME market price of copper falling by 6.8% and realised copper prices falling by 15.5% as prices trended downwards during the period.\n· Group cash costs (before by-product credits) were US$1.76/lb, 9.3% higher than the prev...