Brief: Russia's Polymetal cancels 2021 dividend, H1 EBITDA down 35% Y/Y

Polymetal International PK

22/09/2022 07:00

Sept 22 (Reuters) - Russian gold and silver producer
Polymetal  POLYP.L  reports its financial results for the first
half of 2022:
    * First-half 2022 adjusted EBITDA was $426 million, a
decrease of
35% year-on-year
    * The group reported negative free cash flow of $630 million
in H1
2022
    * Revenue decreased by 18% in H1 2022, totalling $1.05
billion,
compared with $1.27 billion a year ago
    * The board does not propose any interim 2022 dividend
    * The company decided to permanently cancel the full-year
2021
dividend
    * The company said it intends to conduct an offer to
exchange
certain eligible shares in consideration for certificated shares
    * The exchange offer invites shareholders whose rights have
been
affected by sanctions imposed on Russia's National Settlement
Depository to tender such shares for exchange
    * The company currently expects its full-year 2022 capex to
be in
range of $725-775 million

Further company coverage:  POLYP.L 
 (Reporting by Reuters)