Centamin Egypt Ltd

Gold Project: 9.39 Moz Measured and Indicated, Plus 3.5 Moz Inferred

Free
Message: Centamin plc Interim 2018 Results
2018-08-02 02:11:09 AM ET (Filing Services Canada)
   
   

Centamin plc Interim 2018 Results

Perth, Australia (FSCwire) - Financial Highlights(1,2,3,4)

Six Months ("H1"), ended 30 June 2018

Revenue of US$296.4 million, a 2% increase compared to H1 2017 ("YoY"); Gold sales of 228,672 ounces, a 3% decrease YoY. Average realised gold price of US$1,316 per ounce approximately 7% increase YoY;

EBITDA(1,2,4) of US$129.7 million, a 16% increase YoY;

The Group has changed its accounting policy on the treatment of exploration costs, operating costs now include greenfield exploration expenses of US$11.8 million (2017 figures have been restated to include US$9.8 million of exploration expenditure) which was previously capitalised:

Profit before tax(4) of US$80.4 million, a 34% increase YoY;

Basic earnings per share after profit share(2,4) ("EPS") of 3.88 US cents, a 136% increase YoY;

Operational cash flow of US$122.7 million, a 2% decrease YoY;

Free cash flow(1) of US$36.1 million, a 29% decrease YoY;

Royalties(1) of US$9.0 million payable to Arab Republic of Egypt ("ARE") and profit share(1) of US$39.3 million paid to Egyptian Minerals Resources Authority ("EMRA"), our state partners;

Gross capital expenditure of US$53.9 million, a 56% increase YoY, in line with the US$113 million(4) budgeted for the full year;

Cash and liquid assets(1,3) of US$303.3 million at 30 June 2018, the Company remains debt-free and unhedged; and

Consistent with the dividend policy, the Board declares an interim dividend of 2.5 US cents per share ("Interim Dividend"), US$28.9 million, and equivalent to returning 80% of free cash flow generated in H1.

Click on, or paste the following link into your web browser to view the full announcement:

http://www.rns-pdf.londonstockexchange.com/rns/5574W_1-2018-8-1.pdf (http://www.rns-pdf.londonstockexchange.com/rns/5574W_1-2018-8-1.pdf)

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.

To view the associated document to this release, please click on the following link:

https://www.fscwire.com/sites/default/files/news_release_pdf/centamin08022018.pdf

Source: Centamin plc (TSX:CEE, LSE:CEY) http://www.centamin.com/

Share
New Message
Please login to post a reply