Antofagasta PLC

Antofagasta PLC (LSE: ANTO) is an FTSE 100 index listed Company engaged in copper mining. It operates four copper mines in Chile. Besides, the Company has a transport division as well in Northern Chile, to serve mining customers.

FY24 Results (Released on 18 February 2025)

1. Revenue and Profit Growth: Antofagasta PLC achieved a 5% increase in revenue to USD 6.6 billion, driven by a higher copper price. The company also reported an 11% increase in EBITDA, reflecting solid revenue growth and cost control. However, there was a slight decline in earnings per share due to higher depreciation and amortization.

2. Focus on Capital Allocation and Dividends: The company maintained a disciplined approach to capital allocation, balancing investments with shareholder returns. The final dividend of 23.5 cents per share reflects confidence in future growth, resulting in a total payout ratio of 50% of underlying earnings for 2024, in line with the company’s dividend policy.

3. Strategic Investments and Project Advancements: Antofagasta continues to invest in growth projects, notably the Centinela Second Concentrator and expansion initiatives at Los Pelambres. These developments are expected to bolster copper production, with 2025 copper production guidance ranging from 660,000 to 700,000 tonnes. Capital expenditure for 2025 is forecasted at USD 3.9 billion, aligning with ongoing project commitments.

4. Improved Operational Efficiency and Competitiveness: The company’s Competitiveness Programme achieved operational savings and efficiency improvements totaling USD 248 million in 2024, surpassing its USD 200 million target. This program has significantly contributed to maintaining a competitive cost base, ensuring higher profitability amid global copper supply constraints.

Share Price Chart

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Antofagasta PLC (LSE: ANTO)  was trading at the current market price of GBX 1,884.00 (as of 18 February 2025, 09:25 AM GMT)

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance level is 18 February 2025. The reference data in this report has been partly sourced from REFINITIV.

Note 3: ‘Kalkine reports are prepared based on the stock prices captured either from the London Stock Exchange (LSE) and or REFINITIV. Typically, both sources (LSE and or REFINITIV) may reflect stock prices with a delay which could be a lag of 15-20 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.

Note 4: Dividend Yield may vary as per the stock price movement.