Antofagasta PLC

ANTO

Equity

ISIN GB0000456144 / Valor 244698

LSE London Stock Exchange, SETS (2024-12-23)

GBP 16.21+0.50%

Antofagasta PLC
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About company

Antofagasta PLC is a Chilean-based mining company that primarily focuses on copper production. They also have interests in other minerals such as gold and molybdenum. The company operates mines in Chile and other countries, and is one of the largest copper producers in the world.

Summarized from source with an LLMView SourceSector: Non-Energy Materials

Revenue Growth

In the first half of 2024, Antofagasta PLC reported a revenue increase of 2.3%, reaching $2,955.2 million compared to $2,890.1 million in the same period of 2023. This growth reflects the company's resilience and ability to maintain strong financial performance despite challenging market conditions.

EBITDA and Margins

Antofagasta PLC's EBITDA for the first half of 2024 rose by 4.8% to $1,394.4 million, up from $1,331.0 million in the previous year. The company maintained a robust EBITDA margin of 47.2%, demonstrating effective cost management and operational efficiency.

Profit and Earnings

Profit before tax, including exceptional items, decreased by 6.8% to $712.6 million in H1 2024, down from $764.5 million in H1 2023. Earnings per share, including exceptional items, fell by 21.5% to 26.3 cents, while underlying earnings per share, excluding exceptional items, dropped by 33.1% to 22.4 cents.

Cash Flow and Debt

Antofagasta PLC reported a significant increase in cash flow from operations, which rose by 14.5% to $1,483.9 million in the first half of 2024. The company's net debt to EBITDA ratio increased to 0.46x, reflecting continued investment in future production and shareholder distributions.

Dividend and Outlook

The board of directors approved an interim dividend of 7.9 cents per share, representing a payout ratio of 35% of underlying net earnings. Looking ahead, Antofagasta PLC expects total production for 2024 to be at the low end of its guidance range, with cash costs before by-product credits projected at $2.40/lb and net cash costs at $1.70/lb.

Summarized from source with an LLMView Source

Key figures

-4.70%1Y

20.9%3Y

77.1%5Y

Performance

35.3%1Y

38.0%3Y

39.5%5Y

Volatility