EURASIAN NATURAL RESOURCES CORPORATION PLC (ENRC, United Kingdom) announces preliminary Y2010 performance results

08.04.11 13:02
/KASE, April 8, 11/ - EURASIAN NATURAL RESOURCES CORPORATION PLC (London), whose common shares are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the following press-release of March 23, 2011: quote Financial Highlights for 2010 - ?Strong financial performance in the year, as a result of record production volumes and the recovery in the markets for our products. - Revenue up 72% to US$6,605 million. Like-for-like revenue up 62%. - Cost of sales up 46% to US$2,847 million, as a result of increased volumes and rising costs, as well as the inclusion of the Other Non-ferrous Division. Like-for-like costs rose 28%. - Underlying EBITDA up 118%, to US$3,194 million; Underlying EBITDA margin of 48%. - Earnings per share up 110%, to US 170 cents; including a one-off gain of US$298 million related to the BMBV acquisition and expensed acquisition- related costs of US$73 million. - An effective tax rate of 26.2%, including the impact of the above items. - Final dividend of US 18.0 cents per share; US 30.5 cents for the full year. Payout ratio of 18%. - Strong balance sheet maintained, with gross available funds of US$1,672 million; borrowings of US$1,632 million. Business Highlights for 2010 - ?Production of the Group's principal commodities, high carbon ferrochrome, iron ore, alumina, aluminium and coal all at record levels. - Progress on cost control initiatives and productivity gains, partially off-setting cost pressures. - Completion of Phase 2 of the aluminium smelter in May; construction of the new 440 ktpa high carbon ferrochrome plant at Aktobe underway. - Further acquisitions completed to enhance the Group's asset portfolio: additional copper and cobalt assets in the DRC and Zambia; and expansion of the iron ore asset base in Brazil. unquote The full version of this press-release is available on the KASE website, at: - http://www.kase.kz/files/emitters/GB_ENRC/gbenrc_reliz_230311.pdf - in Russian; - http://www.kase.kz/files/emitters/GB_ENRC/gbenrc_reliz_230311.e.pdf - in English. [2011-04-08]