The expectations of 13 brokerages as to the company’s net profit in the second quarter ranged between 535.1 million zł to 805 million zł. KGHM operating profit in the second quarter of 2015. Amounted to 1.133 million zł to 730 million zł year earlier. The average market forecasts spoke of 1.013 million zł. EBITDA amounted to 1.27 billion zł, and was 36 percent. higher yoy and close to the predictions of analysts.
Revenues from sales amounted at that time zł 4.33 billion against 3.9 billion zł in the second quarter of 2014. Analysts expected revenue of 4.16 billion zł. In the second quarter, the sales volume of copper and copper products amounted to 145.5 thousand. tonnes and 317 t of silver. Revenues from the sale of KGHM Polish Copper in the first half of 2015. were higher than those achieved
in the same period of the previous year by 5 percent. “Mainly as a result of higher by 3 thousand. T of copper sales volumes and changes in the average exchange rate of USD / PLN from 3.05 to 3.72.”
“The value of sales revenues in the first half of 2015. Takes into account a positive result from the settlement of hedging instruments in the amount of 221 million zł (in the same period of 2014. 264 million zł) “- added.
Operating costs amounted company in the first half of 2015. 6.16 billion zł and were slightly higher compared to the first half of 2014. due to the higher utilization of stocks of own concentrate the value of which was charged to cost of products sold.
In the first half of the year, operating profit amounted to 1.92 billion zł, EBITDA of 2.36 zł billion and net profit of 1.32 billion zł.
“In addition to changes in income and expenses (…) a significant influence on the formation of the net profit was the result on other operating activities due to valuation and execution Derivatives (loss 193 million zł) “- gave KGHM in the report.
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