Antofagasta Plc (ANFGY.PK,ANTO.L), a Chilean conglomerate, reported that its profit before tax for the fiscal year 2022 was $2.56 billion, 26% lower than in 2021 reflecting the lower EBITDA, partially offset by the Reko Diq exceptional gain.
EBITDA was $2.93 billion, 39% lower than the previous year on lower revenue and operating costs that increased by 10% mainly due to inflation and higher input prices.
But annual profit attributable to the owners of the parent rose to $1.53 billion from $1.29 billion in the prior year. Earnings per share from continuing operations including exceptional items for the year were 155.5 cents, reflecting the impact of exceptional gains of 95.8 cents, and were 18.8% higher than in 2021.
Earnings per share from continuing operations excluding exceptional items for the year were 59.7 cents, a decrease of 82.8 cents or 58% compared with 2021 on lower EBITDA.
Revenue for fiscal year 2022 was $5.86 billion, 22% lower than in 2021 reflecting copper sales volumes and prices, which both fell by 12%.
The company said its board has recommended a final dividend for 2022 of 50.5 cents per share, to be approved by shareholders at the AGM, which together with the interim dividend of 9.2 cents per share amounts to a total dividend of 59.7 cents per share.
Copper production in 2023 is expected to be 670-710,000 tonnes.
Gold production for 2023 is expected to be 220-240,000 ounces, as grades and recoveries increase at Centinela Concentrates. Molybdenum production is expected to be 10-11,500 tonnes, as a result of higher throughput at Los Pelambres and higher recoveries at Centinela.
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