Investment Program to Significantly Increase Production
17
COMPANY PRESENTATION
Financial Highlights
(US$ MM)
2019
2020
2021
2022E
Copper Price (LME) US$ per pound
2.72
2.8
4.24
4.32
Income Statement:
Net Revenues
$7,286
$7,985
$10,934
$10,600
EBITDA
3,527
3,869
6,853
6,155
EBITDA Margin
48%
48%
63%
58%
U.S. Income Tax Reform Adjustment
Net Income
1,486
1,570
3,397
3,305
Dividends paid per share
1.60
1.50
3.20
2.25
Balance Sheet Statement:
Cash, Equivalent & Short Term
Investments
$2,006
$2,594
$3,489
$5,212
Total Assets
16,407
16,664
18,298
20,826
Total Debt
6,941
6,544
6,548
6,242
Total Liabilities
9,549
9,388
10,090
9,515
Total Shareholders Equity
6,810
7,276
8,149
11,243
Cash Flow Statement:
Capital Expenditures
$708
$595
$892
$1,481
Free Cash Flow 1
1,204
2,191
3,400
2,240
Dividends paid to common Shareholders
1,237
1,160
2,474
1,739
Total Debt / EBITDA
2.0x
1.7x
1.0x
1.0x
Net Debt/ EBITDA
1.4x
1.0x
0.4x
0.2x
¹Free Cash Flow defined as net cash from operating activities less capital expenditures.
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