Quarterly-Results

Q2 2018 Conference Call

Q2 2018 webcast link

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Summary:

  • Net profit and earnings per share in the second quarter of 2018 were $25 million and $0.09, respectively, compared to a net profit and earnings per share of $19 million and $0.08, respectively, in the second quarter of 2017
  • Operating cash flow1 of $132 million in the second quarter of 2018, a 6% increase from the second quarter of 2017 
  • Reduced net debt2 position by $49 million during the second quarter of 2018; as at June 30, 2018, Hudbay had net debt of $536 million and total liquidity, including cash and available credit facilities, of $859 million    
  • Consolidated cash cost2, net of by-product credits, of $0.96 per pound of copper, a 13% increase from the second quarter of 2017
  • Consolidated all-in sustaining cash cost2, net of by-product credits, of $1.48 per pound of copper in the second quarter of 2018, down slightly from $1.49 in the second quarter of 2017
  • Manitoba combined mine/mill unit operating costs are now expected to be between C$125 and C$135 per tonne in 20183; Peru remains on track to meet production, capital cost and unit cost guidance for 2018



 

1 Operating cash flow before change in non-cash working capital.

Net debt, cash cost and all-in sustaining cash cost per pound, net of by-product credits, are not recognized under IFRS. For a detailed description of each of these non-IFRS financial performance measures, please see the discussion under “Non-IFRS Financial Performance Measures” beginning on page 5 of the Q2 2018 news release.

3 Initial guidance for Manitoba combined operating costs was C$110 - C$123.

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