Polyus Gold ADR

Polyus meldet Zahlen für Q3/17

3Q 2017 Financial Highlights

·    The Company sold a total of 578 thousand ounces of gold in 3Q 2017, up 10% compared to the prior-year period reflecting higher gold production. Total gold sales include 16 thousand ounces of gold contained in concentrate from Olimpiada.

·    Revenue totaled $744 million, compared to $706 million in 3Q 2016, driven by increased sales volumes (including flotation concentrate).

·    The Group's TCC^[1] decreased to $380 per ounce in 3Q 2017 from $406 per ounce in the prior-year period, as 9% rouble appreciation was offset by strong operational results and efficiency improvement initiatives. AISC^[2] increased to $599 per ounce, up 7% compared to the prior-year period reflecting mainly higher maintenance and stripping expenses.

·    Adjusted EBITDA^[4] amounted to $475 million, a 7% increase from the prior-year period, driven by higher gold sales volumes.

·    Adjusted EBITDA margin stood at 64%, compared to 63% in 3Q 2016.

·    Profit for the period decreased to $371 million partially reflecting the impact of a gain on derivatives and investments in the prior period, as well as finance costs.

·    Adjusted net profit^[4] amounted to $298 million, a 1% increase from the prior-year period.

·    Net cash inflow from operations amounted to $398 million driven by strong EBITDA.

·    Capex^[5] was $224 million, primarily due to the further ramp-up of construction activity at Natalka. The hot commissioning of Natalka was officially launched in early September 2017 and the Company anticipates production at the mine to be fully ramped up by the end of 2018.

·    Cash and cash equivalents as at the end of 3Q 2017 amounted to $1,121 million, compared to $1,477 million as at the end of 1H 2017, following the repayment of credit facilities and dividend payments for 2H 2016 and 1H 2017. Following the Secondary Public Offering ("SPO") conducted on the London Stock Exchange and the Moscow Exchange, the Company used most of the primary proceeds (in a total amount of $400 million) to make early prepayments of several bank credit facilities.

·    Net debt increased to $3,151 million as at the end of 3Q 2017 compared to $3,084 million at the end of 1H 2017. This primarily reflects the decrease in cash position following 2H 2016 and 1H 2017 dividend distributions made in 3Q 2017 offset by positive free cash flow generation.

·    Net debt/adjusted EBITDA ratio remained stable at 1.9x as at the end of 3Q 2017 compared to the end of 1H 2017 as the higher adjusted EBITDA figure balanced off the marginal increase in Net debt.

3Q 2017 Operational Highlights

·    Total gold output increased 16% y-o-y to 642 koz driven by higher production volumes at Olimpiada, Verninskoye and Kuranakh.

·    Volumes of ore mined rose 45% y-o-y to 9,915 kt as a result of mining volume growth at all of Polyus' hard rock deposits.

·    Volumes of ore processed increased 12% y-o-y to 7,299 kt with throughput capacity expansion projects at Company's core assets either being completed or entering the final stages of completion.

http://www.polyus.com/en/media/press-releases/financial-results-for-3q-and-9m-2017/

Polyus - das beste Unternehmen im Goldsektor

http://www.polyus.com/en/media/press-releases/trading-update-for-3q-and-9m-2017/

http://www.miningweekly.com/article/polyus-delivers-record-production-in-q3-2017-10-19

Financial Highlights

• In 1H 2017, the Company sold a total of 983 thousand ounces of gold, up 17% compared to the prior-year period on the back of higher gold production. Total gold sales include 71 thousand ounces of gold contained in the concentrate from Olimpiada.
  
• Revenue totaled $1,234 million, compared to $1,082 million in 1H 2016, driven by an increase in sales volumes (including flotation concentrate).
  
• The Group’s TCC¹ were almost flat at $379 per ounce, AISC² increased to $610 per ounce, up 10% compared to the prior-year period, despite rouble strengthening by 17% during the same period, as it was largely offset by strong operational results and efficiency improvement initiatives.
  
• Adjusted EBITDA³ amounted to $762 million, a 10% increase from the prior-year period, driven by higher gold sales volumes.
• Adjusted EBITDA margin stood at 62%, compared to 64% in 1H 2016.
• Profit for the period increased to $603 million partially reflecting the impact of one-off non-cash items, as well as a foreign exchange gain.
  
• Adjusted net profit⁴ amounted to $475 million, a 17% increase from the prior-year period.
  
• Net cash inflow from operations amounted to $550 million driven by strong EBITDA.
• Capital expenditure (Capex)⁵ was $322 million, a 73% increase from the prior-year period, primarily due to the further ramp-up of construction activity at Natalka. The Company anticipates commissioning of the Natalka operations by the end of 2017.
• Cash and cash equivalents as of the end of 1H 2017 amounted to $1,477 million, compared to $1,740 million as of the end of 2016, following the placement of the $800 million Eurobond due 2023 and pre-payment of 50% of the $2,5 billion 2023 Sberbank credit facility.
• Net debt⁶ declined to $3,084 million as of the end of 1H 2017 compared to $3,241 million as of the end of 2016. This primarily reflects the sale of the stake in the Nezhdaninskoye gold deposit, with $100 million paid upon the completion of the stake transfer, as well as free cash flow generation during the period.
• Net debt/adjusted EBITDA ratio declined for the fourth consecutive quarter since the end of 1H 2016 and stood at 1,9x as of the end of 1H 2017.
• On 30^th June 2017, Polyus priced a Secondary Public Offering («the Offreing») on the London Stock Exchange and the Moscow Exchange with the size of $858 million, which is equal to 9,7% of the share capital of the Company on a fully diluted basis, including the over-allotment option. The primary component amounted to $400 million. The Company recognised the proceeds from the Offering as accounts receivable as of 30^th June 2017.
  
• In line with the existing dividend policy, Board of Directors recommended the Company’s shareholders to approve the dividend payment of RUB 104,3 per share for the six months ended 30 June 2017, which corresponds to 30% of EBITDA for the 1H 2017.The dividend is subject to approval by the Company’s shareholders at the EGM that will be held on 15 September 2017. The dividend record date is the end of trading on 25 September 2017.
  

Quelle: http://www.polyus.com/en/media/press-releases/financial-results-for-nbsp-1h-2017/

http://www.akm.ru/eng/news/2017/august/15/ns5852721.htm