/KASE, September 2, 10/ - EURASIAN NATURAL RESOURCES CORPORATION PLC (London), securities of which are listed on Kazakhstan Stock Exchange (KASE), provided to KASE the following press release of August 18, 2010:

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Financial highlights for H1 2010

• Strong financial performance in the period; built on a recovery in our traditional markets and the continued strength of the Chinese economy.
• Revenue up 80% to US$3,045 million, due to the addition of the Other Non- ferrous Division, higher commodity prices and improved sales volumes. Like- for-like revenue increased 67%.
• Cost of sales increased 45% to US$1,322 million, including the Other Non- ferrous Division, higher sales volumes and rising costs. Like-for-like cost of sales rose 27%.
• Underlying EBITDA up 129%, to US$1,435 million; underlying EBITDA margin to 47%
• Earnings per share up 63%, to US 70 cents.
• Interim dividend US 12.5 cents per share; payout ratio increased to 18%.
• Strong balance sheet: gross available funds US$868 million; borrowings US$657 million.

Production highlights for H1 2010

• Strong operational performance; production levels for our main commodities in Kazakhstan were at or above the levels of H1 2008, a period of high demand; operating at effectively full capacity.
• Progress with cost control initiatives, with longer-term benefits to come.
• Completion of Phase 2 of the aluminium smelter, on budget and ahead of schedule.
• Reinstated iron ore capital expansion projects to 'In Progress'.
• Building our commodity and geographical diversification through the acquisitions of: Chambishi, a Zambian copper and cobalt producer; A stake in Northam Platinum, a major platinum producer in South Africa; and the remainder of SMKK, the holder of DRC copper and cobalt mining licenses.

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The press release full version is available on KASE website at see more

[2010-09-02]