Half Year 2019 South32 Ltd Earnings Presentation - Pre-Recorded Transcript
Hi, everyone. As always, I'd draw your attention to the important notices. Now before passing to Katie Tovich, who becomes our CFO from May this year, let's go to the highlights of our half year results.
Underlying EBITDA increased by 20% to $1.3 billion. Underlying earnings increased by 18% to $642 million. Underlying earnings per share increased by 20% as we continued to benefit from our ongoing share buyback. Return on invested capital was 13.9%. And free cash flow was strong at $718 million, despite a further build in working capital and an increase in tax payments.
Given our robust position and net cash balance of $678 million, our Board resolved to pay a $258 million ordinary dividend and an $86 million special dividend, increasing total returns to $511 million in respect of the period. Strong operating performance, higher
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