Business
HALF YEAR RESULTS
HALF YEAR RESULTS.
About this update from Antofagasta Plc
[{"type":"text","content":"\n\n \nHALF YEAR RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2024\nRESILIENT FINANCIAL PERFORMANCE CONTINUES WITH STRONG BALANCE SHEET, CASH FLOW GENERATION AND EBITDA MARGINS\nAntofagasta plc CEO Iván Arriagada said: \"Antofagasta demonstrated its resilience in the first half of the year, maintaining EBITDA margins, generating savings and productivity improvements of $130 million and advancing with key projects that provide a strong platform for future growth. In terms of financial results, revenue rose by 2% and EBITDA increased by 5% during the first half of 2024.\n\"Importantly, our growth plan remains on track, with the Centinela Second Concentrator moving forward ahead of schedule and initial work starting at new Los Pelambres projects.\n\"With a strong balance sheet, EBITDA margins and cash flow generation to fund our expansion plans and sustaining capex, the board of directors has approved an interim dividend representing 35% of net earnings, in line with the Company's dividend policy.\"\n\n\n\n\nUNAUDITED RESULTS SIX MONTHS ENDED 30 JUNE\n\n\n \n\n\nH1 2024\n\n\nH1 2023\n\n\n%\n\n\n\n\nRevenue1\n\n\n$m\n\n\n2,955.2\n\n\n2,890.1\n\n\n+2.3%\n\n\n\n\nEBITDA\n\n\n$m\n\n\n1,394.4\n\n\n1,331.0\n\n\n+4.8%\n\n\n\n\nEBITDA margin2\n\n\n%\n\n\n47.2\n\n\n46.1\n\n\n+1.1pp\n\n\n\n\nProfit before tax (including exceptional items)\n\n\n$m\n\n\n712.6\n\n\n764.5\n\n\n(6.8%)\n\n\n\n\nCash flow from operations\n\n\n$m\n\n\n1,483.9\n\n\n1,296.4\n\n\n+14.5%\n\n\n\n\nNet debt / EBITDA1\n\n\nX\n\n\n0.46\n\n\n0.27\n\n\n+70%\n\n\n\n\nEarnings per share (including exceptional items)\n\n\ncents\n\n\n26.3\n\n\n33.5\n\n\n(21.5%)\n\n\n\n\nUnderlying earnings per share (excluding exceptional items)1\n\n\ncents\n\n\n22.4\n\n\n33.5\n\n\n(33.1%)\n\n\n\n\nDividend per share\n\n\ncents\n\n\n7.9\n\n\n11.7\n\n\n(32.5%)\n\n\n\n\n\n1Non-IFRS measures. Refer to the alternative performance measures section on page 56 in the half-year financial report below.\n\n\n2Calculated as EBITDA/Revenue. If Associates and JVs' revenue is included, EBITDA Margin was 44.5% in HY 2024 and 43.2% in HY 2023.\n\n\nHIGHLIGHTS\n● Continued strong safety performance recorded in H1 2024, with no fatalities and an injury frequency rate continuing at a level below 1.0.\n● Copper production was 284,700 tonnes, 4% lo...