/KASE, September 2, 10/ - EURASIAN NATURAL RESOURCES
CORPORATION PLC (London), securities of which are listed on Kazakhstan
Stock Exchange (KASE), provided to KASE the following press release of
August 18, 2010:
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Financial highlights for H1 2010
- Strong financial performance in the period; built on a recovery in our
traditional markets and the continued strength of the Chinese economy.
- Revenue up 80% to US$3,045 million, due to the addition of the Other Non-
ferrous Division, higher commodity prices and improved sales volumes. Like-
for-like revenue increased 67%.
- Cost of sales increased 45% to US$1,322 million, including the Other Non-
ferrous Division, higher sales volumes and rising costs. Like-for-like cost
of sales rose 27%.
- Underlying EBITDA up 129%, to US$1,435 million; underlying EBITDA margin
to 47%
- Earnings per share up 63%, to US 70 cents.
- Interim dividend US 12.5 cents per share; payout ratio increased to 18%.
- Strong balance sheet: gross available funds US$868 million; borrowings
US$657 million.
Production highlights for H1 2010
- Strong operational performance; production levels for our main commodities
in Kazakhstan were at or above the levels of H1 2008, a period of high
demand; operating at effectively full capacity.
- Progress with cost control initiatives, with longer-term benefits to come.
- Completion of Phase 2 of the aluminium smelter, on budget and ahead of
schedule.
- Reinstated iron ore capital expansion projects to 'In Progress'.
- Building our commodity and geographical diversification through the
acquisitions of: Chambishi, a Zambian copper and cobalt producer; A stake in
Northam Platinum, a major platinum producer in South Africa; and the
remainder of SMKK, the holder of DRC copper and cobalt mining licenses.
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The press release full version is available on KASE website at
http://www.kase.kz/files/emitters/GB_ENRC/gbenrc_reliz_180810_1.pdf
[2010-09-02]