Centamin PLC

122718

Equity

ISIN JE00B5TT1872 / Valor 14361056

LSE London Stock Exchange, SETS (2024-11-22)

GBP 1.46%

Centamin PLC
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About company

Centamin PLC is a mining company with operations and projects in Egypt, Cote d’Ivoire, and Burkina Faso. The company's primary asset is the Sukari Gold Mine, which is the largest gold mine in Egypt and one of the world's largest producing mines. Centamin aims to be a multi-asset gold producer focused on long-term sustainable growth. The Sukari Gold Mine, which began production in 2009, is a long-life, bulk tonnage open pit and underground operation forecasted to produce over 400,000 ounces of gold per year with a 12-year life of mine.

Summarized from source with an LLMView SourceSector: Energy

Revenue Growth

Centamin PLC reported a significant increase in revenue for the quarter ended 31 December 2023. The company achieved a total revenue of US$891.3 million, marking a 13% rise compared to the previous year. This growth was driven by higher gold production and favorable market conditions.

Gold Production

For the quarter ended 31 December 2023, Centamin PLC produced 450,058 ounces of gold, which represents a 2% increase from the previous year. This production level was in line with the company's guidance for 2023, reflecting the operational improvements and flexibility from their three-year reinvestment plan.

All-In Sustaining Costs (AISC)

Centamin PLC successfully reduced its All-In Sustaining Costs (AISC) to US$1,205 per ounce sold for the quarter ended 31 December 2023. This represents a 14% improvement compared to 2022, beating the lower end of their guidance range. The reduction in AISC was achieved despite ongoing local inflationary pressures.

Adjusted EBITDA

Centamin PLC reported an adjusted EBITDA of US$398 million for the quarter ended 31 December 2023, reflecting a 25% increase from the previous year. The adjusted EBITDA margin also improved to 45%, up from 40% in 2022, indicating strong operational performance and cost management.

Dividend Announcement

Centamin PLC declared a final dividend of 2.0 US cents per share for the quarter ended 31 December 2023, subject to approval at the annual general meeting on 21 May 2024. This brings the total dividend for the full year 2023 to 4.0 US cents per share, amounting to US$46 million, demonstrating the company's commitment to returning value to shareholders.

Summarized from source with an LLMView Source

Key figures

64.2%1Y

46.6%3Y

29.1%5Y

Performance

34.0%1Y

35.3%3Y

44.0%5Y

Volatility