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Antofagasta FY19 pretax profit rises

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Christian Fernsby ▼ | March 17, 2020
Antofagasta reported profit before tax of $1.35 billion for the year ended 31 December 2019, compared to $1.25 billion, previous year.
Antofagasta   EBITDA was $2.44 billion, 9.5% higher
Earnings per share from continuing operations was 50.9 cents, a decrease of 0.6 cents or 1.2% on higher EBITDA offset by higher depreciation and amortisation, and tax.

Topics: Antofagasta

EBITDA was $2.44 billion, 9.5% higher than prior year.

Fiscal year 2019 revenue was $4.97 billion, 4.9% higher than 2018 reflecting the higher copper and gold sales volumes, partially offset by lower copper realised price.

During the year, copper production increased by 6.2% to 770,000 tonnes.

Gold production was 282,300 ounces, 34.4% higher than last year.

Molybdenum production decreased by 14.7% to 11,600 tonnes.

The Board has declared a final dividend for 2019 of 23.4 cents per share, which together with the interim dividend of 10.7 cents per share amounts to a total dividend of $336.2 million.

Regarding COVID-19, the company stated that to date no employees, supplies or sales have been affected by the virus.

For fiscal 2020, Antofagasta Plc expects capital expenditure to be in the range of $1.3 billion-$1.5 billion.

The company said, as previously projected, production is expected to be 725-755,000 tonnes of copper, 180-200,000 ounces of gold and 12,500-14,000 tonnes of molybdenum.