2023-07-27 04:27:19 ET
- First Quantum Minerals press release ( TSX: FM:CA ): Q2 Non-GAAP EPS of C$0.12.
- Gross profit for the second quarter of $265 million was 5% lower than Q1 2023 due to higher depreciation, while EBITDA of $568 million for the same period was 10% higher due to higher sales volumes, partially offset by lower realized metal prices.
- Cash flows from operating activities of $719 million ($1.04 per share) for the quarter were $420 million higher than Q1 2023 due mainly to working capital movements related to trade and other receivables and trade and other payables.
- Net debt1 decreased by $130 million during the quarter, taking the net debt balance to $5,650 million as at June 30, 2023. As at June 30, 2023, total debt was $6,528 million (March 31, 2023, total debt was $6,878 million). The decrease in net debt and total debt was attributable to the favourable timing of working capital cash flows.
- On May 17, the Company announced an offering of $1.3 billion of Senior Notes due 2031. Proceeds from the offering was used towards the repayment of $970 million of the Company’s existing revolving credit facility and a $300 million redemption of the Company’s outstanding Senior Notes due 2025.
- On July 25, the Company announced an interim dividend of CDN$0.08 per share, in respect of the financial year ended December 31, 2023 (July 26, 2022: CDN$0.16 per share), to be paid on September 19, 2023 to shareholders of record on August 28, 2023
For further details see:
First Quantum Minerals Non-GAAP EPS of C$0.12