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Polymetal FY Profit Rises; Revenue Up 28% - Quick Facts

Polymetal International plc (POLY.L) reported net earnings of $1.09 billion for the year ended 31 December 2020 compared to $483 million, prior year. Basic earnings per share was $2.30 compared to $1.02. Adjusted EBITDA was up 57% to $1.69 billion from $1.07 billion. Underlying earnings per share was $2.28 compared to $1.25.

Fiscal year revenue increased to $2.86 billion from $2.24 billion, prior year. Gold sales were 1,392 Koz, up 2% year-on-year, while silver sales were down 13% to 19.3 Moz.

The company reiterated its current production guidance of 1.5 Moz of GE for fiscal 2021 and 1.6 Moz of GE for fiscal 2022.

The Board has proposed a final dividend of $0.89 per share. This will bring the total dividend declared for fiscal 2020 to $1.29 per share, up 57%.

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