While the downturn in commodity prices has hit the miners extremely hard, Antofagasta’s troubles have been compounded by a series of operational disruptions at its largest mines. Consequently, the Chilean copper miner posted materially weak H2 and 2015 results – much below our and market expectations. In fact, the group’s profits plummeted to levels much worse than the 2008-09 crisis lows. Weak prices + low volumes = dwindling top-line Sales (from continuing operations): H2
21 Mar 2016
Profitability slumps to unprecedented lows; a bumpier road ahead
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Profitability slumps to unprecedented lows; a bumpier road ahead
Antofagasta plc (ANTO:LON) | 2,042 0 0.0% | Mkt Cap: 20,126m
- Published:
21 Mar 2016 -
Author:
Varun Sikka -
Pages:
4
While the downturn in commodity prices has hit the miners extremely hard, Antofagasta’s troubles have been compounded by a series of operational disruptions at its largest mines. Consequently, the Chilean copper miner posted materially weak H2 and 2015 results – much below our and market expectations. In fact, the group’s profits plummeted to levels much worse than the 2008-09 crisis lows. Weak prices + low volumes = dwindling top-line Sales (from continuing operations): H2