The Antofagasta PLC Board has declared an interim dividend of 23.6 cents per share, equivalent to $232.7 million and a payout ratio of 35%, consistent with the Company's policy and previous interim dividends. Any distribution of excess cash for the year, as defined under the policy, will be made as part of the final dividend.
Other financial highlights include:
Revenue for the first half of 2021 was $3,591 million, 67.9% higher than the same period in 2020 mainly as a result of higher realised copper prices, partially offset by a decrease in the volume of copper sales
EBITDA was a record $2,357 million, 132.7% higher than in the same period last year on higher revenue partially offset by higher operating costs due to the stronger Chilean peso, and higher energy and diesel prices
EBITDA margin was 65.6%, compared to 47.4% in H1 2020 and 53.4% for the full year 2020
The Cost and Competitiveness Programme generated savings of $43 million in the first half of 2021, equivalent to 5c/lb of unit cash costs
Profit before tax was $1,784 million, a $1,396 million increase on the same period in 2020
Strong balance sheet with net cash of $701 million at 30 June, an improvement of $783 million from the net debt position at the end of 2020. Cash flow from operations was $2,461 million compared with $907 million in the first half of 2020
Capital expenditure of $782 million was 49% of full year guidance
Earnings per share of 67.5 cents, 53.8 cents higher than the same period in 2020
