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Polymetal 2018 Net Profit Slightly Rises; Revenue Up 4% - Quick Facts

Polymetal International plc (POLY.L) reported fiscal 2018 net earnings of $355 million compared to $354 million, prior year. Basic EPS was $0.78 compared to $0.82. Adjusted EBITDA increased 5% to $780 million. Adjusted EBITDA increased mostly driven by higher production volumes and stable cost performance. Underlying net earnings increased by 19% to $447 million. Underlying EPS was $1.00 compared to $0.88

Fiscal year revenue improved 4% to $1.88 billion. In 2018, revenue increased primarily driven by gold equivalent production growth of 9%. Gold sales were 1,198 Koz, up 10% year-on-year, while silver sales were down 3% to 25.7 Moz, in line with production volume dynamics.

A final dividend of $0.31 per share, representing 50% of the Group's underlying net earnings for second half 2018 has been proposed by the Board in accordance with the dividend policy. This will bring the total dividend declared for the fiscal 2018 to $0.48 per share.

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