- Antofagasta
- 18 February 2025 09:48:33
Source: Sharecast
Antofagasta said FY revenues were $6.6bn in FY24, while pre-tax profits came in at $2.1bn. Underlying earnings were up 11% at $3.4bn.
The FTSE-100 listed group's net debt to EBITDA ratio, on the other hand, increased from 0.38x to 0.48x and underlying earnings per share fell 13% to $0.63. However, Antofagasta still declared a final dividend of $0.24 per share.
Looking forward, Antofagasta said FY25 copper production was expected to be 660,000-700,000 tonnes, while capex was guided to be $3.9bn.
Chief executive Ivan Arriagada said: "We have delivered another year of strong revenue growth and cash flow generation, and our EBITDA margin widened to 52%, maintaining our position at the top-end of our peer group of pure-play copper producers.
"Our disciplined approach to capital allocation allows us to balance investments and shareholder returns, with the final dividend that we have proposed today taking total distributions in respect of 2024 to 50% of underlying earnings, reflecting our confidence in the future of our business."
As of 0945 GMT, Antofagasta shares were up 2.12% at 1,875.0p.
Reporting by Iain Gilbert at Sharecast.com