Centamin FY20 Pretax Profit Rises; Revenues Up 27%

Centamin plc (CELTF.PK,CEY.L,CEE.TO) reported profit before tax of $315.0 million for the twelve months ended 31 December 2020 compared to $173.0 million, prior year. Earnings per share in US cents was 13.453 compared to 7.535. Underlying EBITDA improved by 54% to $439 million, mainly driven by higher gold prices and lower fuel costs.

Fiscal year revenue increased to $828.74 million from $652.34 million, previous year. Annual gold sales were 468,681 ounces, down 0.3%.

Centamin plc affirmed its 2021 guidance. The company continues to project gold production of 400,000 to 430,000 oz.

The Board has proposed a final dividend of 3 US cents per share. The Board reiterated its intention to recommend a minimum 2021 dividend of $105 million (interim and final).

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