Full Year 2019 South32 Ltd Earnings Presentation Transcript
Hello, everyone. As always, I'd draw your attention to the important notices. Now let's go to the overview, where our strong operating results continued returns to shareholders and investment in our portfolio sees us well-placed entering FY '20. Underlying EBITDA declined by 13% to $2.2 billion, while free cash flow was $1 billion, as the benefits of stronger alumina process, weaker producer currencies and cost-reduction initiatives across labor, energy and materials usage were more than offset by lower aluminum and thermal coal prices. Underlying earnings decreased by 25% to $992 million while underlying earnings per share decreased by a lesser 23%, as we continued to benefit from our ongoing share buyback. In accordance with our dividend policy, our Board resolved to pay $140 million ordinary dividend, increasing total returns to $762 million in respect
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