16.08.2018

Half-Yearly Results 2018

Table

$ million (unless otherwise stated)

Six months

ended

30 June 2018

Six months

ended

30 June 2017

Gross Revenues1,2

1,098

837

Gross EBITDA1,2,3

690

505

 

 

 

Revenues

1,098

 721

EBITDA (excluding special items)1,3

690

 429

 

 

 

Operating profit

464

291

Profit before tax

355

 240

Profit for the period

276

 185

EPS - basic and diluted ($)

0.62

 0.41

EPS - based on Underlying Profit ($)1,4

0.62

 0.44

 

 

 

Net cash flows from operating activities

350

337

Free Cash Flow1,5

308

 155

Free Cash Flow before interest1,5

420

 269

 

 

 

Gross cash cost (USc/lb)1,2

145

 144

Net cash cost (USc/lb)1,2

82

 64

 

 

 

Cash and cash equivalents

1,653

1,223

Net debt1

2,052

2,442

  1. These metrics are non-IFRS measures that the Directors use internally to assess the financial performance of the Group, which are also relevant to users of the financial information. See glossary for definitions. 
  2. Includes operations during the period prior to commercial production for the first half of 2017.
  3. Reconciliation to operating profit provided in note 4(a)(i) in the financial information. 
  4. Reconciliation of EPS based on Underlying Profit provided in note 7 in the financial information.
  5. Reconciliation of Free Cash Flow provided on page 20.
‘‘KAZ Minerals has delivered strong financial results in the first half of the year due to the ramp up of volumes at Aktogay, higher commodity prices and continued low unit production costs. Following the successful delivery of the Bozshakol and Aktogay projects, the Group now has a portfolio of large scale, low cost operations which provides strong cash generation and has enabled the rapid de-gearing of the balance sheet. Accordingly, the Board has declared an interim dividend of 6.0 US cents per share.’’ Andrew Southam, Chief Executive Officer