Business
2012 Full Year Results
2012 Full Year Results.
About this update from Hochschild Mining Plc
[{"type":"text","content":"\n \nRNS Number : 8616Z Hochschild Mining PLC 13 March 2013 \n \n\n \n \n \n___________________________________________________________________________\n13 March 2013 \nHochschild Mining plc\nPreliminary Results for the twelve months ended 31 December 2012\n \nFinancial highlights[1] \n· Revenue of $818.0 million (2011: $987.7 million)\n· Adjusted EBITDA of $384.8 million (2011: $563.4 million) \n· EPS of $0.19 (2011: $0.49)\n· Strong financial position with a year-end cash balance of $359 million[2]\n· Minority investments valued at $256 million[3]\n· Proposed final dividend of $0.03 per share, bringing the total dividend for 2012 to $0.06 per share\n \nOperational highlights \n· Full year production of 20.3 million attributable silver equivalent ounces in line with guidance\n· Overall unit cost performance in 2012 in line with guidance \n· Good progress at Inmaculada and Crespo; set to increase production levels by 50% from H2 2014 \no Key steps achieved in both projects' permitting processes including granting of Inmaculada EIS\no Project engineering, procurement and construction progressing according to schedule\no Positive exploration results at Inmaculada \n· Acquisition of Andina Minerals boosts long-term project pipeline with Volcan gold deposit in Chile\n· Exploration programme continues to deliver positive results:\no Excellent results from brownfield exploration programmes \no Core asset resource base optimised\n· 2013 production target maintained at 20.0 million attributable silver equivalent ounces\n· $77 million exploration budget for 2013 \n\n \n\n\n\n\n$000, pre-exceptional unless stated\n\n\nYear ended\n31 Dec 2012\n\n\nYear ended\n31 Dec 2011 \n\n\n% change\n\n\n\n\nAttributable silver production (koz)\n\n\n13,550\n\n\n14,980\n\n\n(10)\n\n\n\n\nAttributable gold production (koz)\n\n\n112\n\n\n127\n\n\n(12)\n\n\n\n\nNet Revenue[4]\n\n\n817,952\n\n\n987,662\n\n\n(17)\n\n\n\n\nAdjusted EBITDA[5]\n\n\n384,791\n\n\n563,403\n\n\n(32)\n\n\n\n\nProfit from continuing operations \n\n\n128,581\n\n\n268,919\n\n\n(52)\n\n\n\n\nProfit from continuing operations (post exceptional)\n\n\n126,866\n\n\n 272,338 \n\n\n(53)\n\n\n\n\nEarnings per share ($)\n\n\n0.19\n\n\n0.49\n\n\n(61)\n\n\n\n\nEarnings per share ($ post-exceptional) \n\n\n0.19\n\n\n0.50\n\n\n(6...