Profil:
KGHM Polska Miedź SAKGHM copper posts PLN 1.978 bln adj. EBITDA in Q3 2024, above consensus
Listed copper and silver producer KGHM posted PLN 1.978 billion (EUR 455.5 mln) adjusted EBITDA in the third quarter of 2024, 8.5 percent above market expectations for PLN 1.822 billion (EUR 419.6 mln), according to calculations by PAP Biznes based on the company's report.
Below are the KGHM's results for the third quarter of 2024 against the PAP Biznes consensus:
| 3Q2024 | results | consensus | difference | y/y | q/q | YTD | y/y |
| PLN mln | PLN mln | % | % | % | PLN mln | % | |
| Revenues | 8659 | 8478,5 | 2,10% | 9,70% | -5,50% | 26139 | 1,90% |
| EBITDA | 1978 | 1822,4 | 8,50% | 68,60% | -25,60% | 6186 | 43,60% |
| EBITDA margin | 22,80% | 21,30% | 1,5 | 7,98 | -6,15 | 23,67% | 6,82 |
After three quarters of 2024, the KGHM group had revenues of PLN 26.139 billion (EUR 6 bln) , up from PLN 25.648 billion (EUR 5.9 bln) in the prior year period. Adjusted EBITDA rose to PLN 6.186 billion (EUR 1.4 bln) from PLN 4.308 billion (EUR 992.1 mln) a year ago.
The group's attributable net profit after the three quarters rose to PLN 1.313 billion (EUR 302.4 mln) from PLN 828 million (EUR 190.7 mln) net take in the prior year period.
"The increase in results was driven by a significant improvement in the operating parameters of the Robinson mine, effective management of operating costs, including the cost of fuel and process materials, and a high realised selling price as a result of the increase in copper and silver prices and the result of the realisation of metal price hedging instruments," KGHM said in a press release.
pel/ ao/
