Antofagasta plc has reported a resilient financial performance in its 2024 full year results. The CEO, Iván Arriagada, highlighted the company's ability to maintain EBITDA margins, generate savings and productivity improvements, and advance key projects for future growth. The company saw a 2% increase in revenue and a 5% increase in EBITDA during the first half of 2024. The Centinela Second Concentrator is progressing ahead of schedule, and initial work has commenced at new Los Pelambres projects.
With a strong balance sheet, EBITDA margins, and cash flow generation, the company is well-positioned to fund its expansion plans and sustaining capex. The board of directors has approved an interim dividend representing 35% of net earnings, in line with the Company’s dividend policy.
The company remains committed to its purpose of "Developing Mining for a Better Future" and its strategy for future growth. For more information, the full announcement can be found on the Antofagasta plc website.