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KGHM

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KGHM

KGHM Polska Miedź (KGHM Kombinat Górniczo-Hutniczy Miedzi Polish Copper) is a Poland-based company and one of the largest producers of copper and silver in the world. The Company is involved in the copper ore mining, copper production and the production of precious metals and other non-ferrous metals. It also produces salt and provides casting of light metals. The Company is based in Poland in Lubin, but has several operations abroad such as in the USA, Canada, and Chile. Over 80% of KGHM's products are sold abroad, mainly to Germany, the United Kingdom, France, China, and the Czech Republic, among others. Since 1997, KGHM shares have been traded on the Warsaw Stock Exchange

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summary

Unit

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income statement

Sales	PLN mil
Gross Profit	PLN mil
EBIT	PLN mil
Net Profit	PLN mil
ROE	%
EBIT Margin	%
Net Margin	%
Employees

...				12,120	16,767	22,107	26,705	24,110
...				7,459	10,862	14,096	13,196	12,291
...				3,189	6,633	9,477	7,158	4,372
...				2,328	4,640	11,127	4,802	3,035
...				21.6%	36.4%	58.1%	21.3%	13.6%
...				26.3%	39.6%	42.9%	26.8%	18.1%
...				19.2%	27.7%	50.3%	18.0%	12.6%
...	...	...	...	28,884	30,928	31,183	34,045	34,452

balance sheet

Total Assets	PLN mil
Non-Current Assets	PLN mil
Current Assets	PLN mil
Shareholders' Equity	PLN mil
Liabilities	PLN mil
Non-Current Liabilities	PLN mil
Current Liabilities	PLN mil
Net Debt/EBITDA
Net Debt/Equity
Cost of Financing	%

...		14,890	21,241	30,650	33,616	34,465
...		9,801	12,481	12,133	23,762	26,488
...		5,090	8,760	18,517	9,854	7,977
...		10,575	14,922	23,391	21,710	23,064
...		4,315	6,319	7,259	11,906	11,401
...		2,012	2,916	2,827	7,120	6,714
...		2,303	3,403	4,432	4,769	4,687
...		-0.218	-0.377	-1.24	0.027	0.347
...		-0.081	-0.189	-0.549	0.011	0.090
...	...	6.60%	3.63%	4.23%	8.24%	4.73%

cash flow

Total Cash From Operations	PLN mil
Total Cash From Investing	PLN mil
Total Cash From Financing	PLN mil
Net Change In Cash	PLN mil

...	...	3,130	5,794	9,372	5,440	4,924
...	...	-1,680	-3,217	2,763	-10,669	-4,730
...	...	-2,303	-693	-2,092	-5,121	-1,961
...	...	-853	1,884	10,043	-10,350	-1,767

valuation

Market Capitalisation	USD mil
Number Of Shares	mil
Share Price	PLN
Earnings Per Share (EPS)	PLN
Book Value Per Share	PLN
Dividend Per Share	PLN
Price/Earnings (P/E)
Price/Book Value (P/BV)
Dividend Yield	%
Earnings Per Share Growth	%
Book Value Per Share Growth	%

...		7,401	11,693	6,424	12,283	7,831
...		200	200	200	200	200
...		106	173	111	190	118
...		11.6	23.2	55.6	24.0	15.2
...		52.9	74.6	117	109	115
...		3.00	14.9	28.3	9.80	5.00	...
...		9.11	7.46	1.99	7.91	7.78
...		2.00	2.32	0.946	1.75	1.02
...		2.83%	8.61%	25.6%	5.16%	4.24%	...
...	...	-15.8%	99.3%	140%	-56.8%	-36.8%
...	...	-3.71%	41.1%	56.8%	-7.19%	6.24%

Download Data

income statement

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income statement

Sales	PLN mil
Cost of Goods & Services	PLN mil
Gross Profit	PLN mil
Staff Cost	PLN mil
Other Cost	PLN mil
EBITDA	PLN mil
Depreciation	PLN mil
EBIT	PLN mil
Financing Cost	PLN mil
Extraordinary Cost	PLN mil
Pre-Tax Profit	PLN mil
Tax	PLN mil
Minorities	PLN mil
Net Profit	PLN mil
Dividends	PLN mil

...	12,120	16,767	22,107	26,705	24,110
...	4,661	5,905	8,011	13,509	11,819
...	7,459	10,862	14,096	13,196	12,291
...	3,262	3,384	3,620	4,570	4,702
...	264	1.23	86.0	15.0	1,637
...	3,932	7,477	10,390	8,611	5,952
...	744	844	913	1,453	1,580
...	3,189	6,633	9,477	7,158	4,372
...	20.8	11.1	12.0	130	137
...	294	879	-3,903	580	0.000
...	2,874	5,743	13,368	6,448	4,235
...	545	1,097	2,300	1,645	1,202
...	0.568	5.92	1.00	1.00	-2.00
...	2,328	4,640	11,127	4,802	3,035
	600	2,980	5,668	1,960	1,000	...

growth rates

Total Revenue Growth	%
Operating Cost Growth	%
EBITDA Growth	%
EBIT Growth	%
Pre-Tax Profit Growth	%
Net Profit Growth	%

...	...	-4.23%	38.3%	31.9%	20.8%	-9.72%
...	...	3.52%	-4.01%	9.49%	23.7%	38.3%
...	...	2.41%	90.1%	39.0%	-17.1%	-30.9%
...	...	0.959%	108%	42.9%	-24.5%	-38.9%
...	...	-15.4%	99.8%	133%	-51.8%	-34.3%
...	...	-15.8%	99.3%	140%	-56.8%	-36.8%

ratios

ROE	%
ROCE	%
Gross Margin	%
EBITDA Margin	%
EBIT Margin	%
Net Margin	%
Payout Ratio	%
Cost of Financing	%
Net Debt/EBITDA

...		21.6%	36.4%	58.1%	21.3%	13.6%
...	...	20.0%	32.7%	71.8%	22.0%	10.1%
...		61.5%	64.8%	63.8%	49.4%	51.0%
...		32.4%	44.6%	47.0%	32.2%	24.7%
...		26.3%	39.6%	42.9%	26.8%	18.1%
...		19.2%	27.7%	50.3%	18.0%	12.6%
...		25.8%	64.2%	50.9%	40.8%	32.9%	...
...	...	6.60%	3.63%	4.23%	8.24%	4.73%
...		-0.218	-0.377	-1.24	0.027	0.347

Download Data

balance sheet

Unit

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balance sheet

Non-Current Assets	PLN mil
Property, Plant & Equipment	PLN mil
Intangible Assets	PLN mil
Current Assets	PLN mil
Inventories	PLN mil
Receivables	PLN mil
Cash & Cash Equivalents	PLN mil
Total Assets	PLN mil
Shareholders' Equity	PLN mil
Of Which Minority Interest	PLN mil
Liabilities	PLN mil
Non-Current Liabilities	PLN mil
Long-Term Debt	PLN mil
Deferred Tax Liabilities	PLN mil
Current Liabilities	PLN mil
Short-Term Debt	PLN mil
Trade Payables	PLN mil
Equity And Liabilities	PLN mil

...											9,801	12,481	12,133	23,762	26,488
...											7,747	8,671	9,093	14,116	15,128
...											218	473	663	2,259	2,175
...											5,090	8,760	18,517	9,854	7,977
...											2,072	2,222	2,658	3,769	3,397
...											1,266	2,041	1,388	2,248	3,119
...											1,197	3,087	13,130	2,629	864
...											14,890	21,241	30,650	33,616	34,465
...											10,575	14,922	23,391	21,710	23,064
...											77.1	256	289	232	223
...											4,315	6,319	7,259	11,906	11,401
...											2,012	2,916	2,827	7,120	6,714
...											121	174	194	1,783	1,714
...	...	...	...	...	...	...	...	...	...	...	...	...	...	1,772	1,726
...											2,303	3,403	4,432	4,769	4,687
...											220	96.2	104	1,075	1,218
...											620	890	1,056	1,273	1,275
...											14,890	21,241	30,650	33,616	34,465

growth rates

Total Asset Growth	%
Shareholders' Equity Growth	%
Net Debt Growth	%
Total Debt Growth	%

...	...	-0.731%	42.6%	44.3%	9.68%	2.53%
...	...	-3.71%	41.1%	56.8%	-7.19%	6.24%
...	...	-51.7%	229%	355%	-102%	803%
...	...	17.1%	-20.8%	10.4%	859%	2.59%

ratios

Total Debt	PLN mil
Net Debt	PLN mil
Working Capital	PLN mil
Capital Employed	PLN mil
Net Debt/Equity
Cost of Financing	%

...		341	270	298	2,858	2,932
...		-856	-2,817	-12,832	229	2,068
...		2,719	3,373	2,990	4,744	5,241
...		12,520	15,854	15,123	28,506	31,729
...		-0.081	-0.189	-0.549	0.011	0.090
...	...	6.60%	3.63%	4.23%	8.24%	4.73%

Download Data

cash flow

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cash flow

Net Profit	PLN mil
Depreciation	PLN mil
Non-Cash Items	PLN mil
Change in Working Capital	PLN mil
Total Cash From Operations	PLN mil
Capital Expenditures	PLN mil
Other Investments	PLN mil
Total Cash From Investing	PLN mil
Dividends Paid	PLN mil
Issuance Of Debt	PLN mil
Total Cash From Financing	PLN mil
Net Change In Cash	PLN mil

...		2,328	4,640	11,127	4,802	3,035
...		744	844	913	1,453	1,580
...	...	1,168	964	-3,051	939	806
...	...	-1,110	-654	383	-1,754	-497
...	...	3,130	5,794	9,372	5,440	4,924
...	...	-1,466	-1,401	-1,859	-2,402	-3,189
...	...	-214	-1,816	4,622	-8,267	-1,541
...	...	-1,680	-3,217	2,763	-10,669	-4,730
...	...	-600	-2,980	-5,668	-1,960	-1,000	...
...	...	49.7	-70.9	28.2	2,560	74.0
...	...	-2,303	-693	-2,092	-5,121	-1,961
...	...	-853	1,884	10,043	-10,350	-1,767

ratios

Days Sales Outstanding	days
Days Sales Of Inventory	days
Days Payable Outstanding	days
Cash Conversion Cycle	days
Cash Earnings	PLN mil
Cash Earnings Per Share	PLN
Price/Cash Earnings (P/CE)
Free Cash Flow	PLN mil
Free Cash Flow Yield	%

...		38.1	44.4	22.9	30.7	47.2
...		162	137	121	102	105
...		48.5	55.0	48.1	34.4	39.4
...		152	127	95.9	98.2	113
...		3,072	5,484	12,040	6,255	4,615
...		15.4	27.4	60.2	31.3	23.1
...		6.90	6.31	1.84	6.08	5.11
...	...	1,450	2,577	12,135	-5,229	194
...	...	6.29%	7.30%	63.7%	-13.1%	0.784%

Download Data

other data

Unit

1998

1999

2000

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other data

ROA	%
Gross Margin	%
Employees
Cost Per Employee	USD per month
Cost Per Employee (Local Currency)	PLN per month
Staff Cost (As % Of Total Cost)	%
Effective Tax Rate	%
Enterprise Value (EV)	USD mil
EV/EBITDA
EV/Capital Employed
EV/Sales
EV/EBIT
Domestic Sales	PLN mil
Capital Expenditures (As % of Sales)	%
Revenues From Abroad	PLN mil
Revenues From Abroad (As % Of Total)	%
Sales from Copper	PLN mil
Sales from Silver	PLN mil
Sales from Gold	PLN mil
Sales from Nickel	PLN mil
Sales from Other precious Metals	PLN mil
Production of Copper (kt)	kt
Production of Silver (t)	tonnes
Production of Gold (kg)	kg
Production of Nickel (kg)	kg
Production Of Platinum (kg)	kg
Production of Palladium (kg)	kg
Sales to Poland	PLN mil
Sales to Germany	PLN mil
Sales to the UK	PLN mil
Sales to China	PLN mil
Sales to the Czech Rep.	PLN mil
Sales to Canada	PLN mil
Sales to Italy	PLN mil
Sales to the USA	PLN mil
Sales to France	PLN mil
Sales to Hungary	PLN mil
Sales of Copper (kt)	kt
Sales of Silver (t)	tonnes
Sales of Gold (kg)	kg

...											15.6%	25.7%	42.9%	14.9%	8.92%
...											61.5%	64.8%	63.8%	49.4%	51.0%
...		...	...	...							28,884	30,928	31,183	34,045	34,452
...		...	...	...							3,020	3,021	3,263	3,437	3,599
...		...	...	...							9,411	9,117	9,674	11,186	11,373
...											36.5%	33.4%	28.7%	23.4%	23.8%
...											19.0%	19.1%	17.2%	25.5%	28.4%
...											7,102	10,741	2,698	12,357	8,517
...											5.63	4.33	0.770	4.67	4.52
...											1.62	2.00	0.614	1.34	0.809
...											1.83	1.93	0.362	1.51	1.12
...											6.94	4.89	0.844	5.62	6.16
...	...	...	...	...							3,374	4,971	5,845	5,309	4,837
...	...										12.1%	8.36%	8.41%	8.99%	13.2%
...	...	...	...	...							8,746	11,796	16,262	21,396	19,273
...	...	...	...	...							72.2%	70.4%	73.6%	80.1%	79.9%
...	...	...	...	...	...	...	...	...	...	...	8,816	12,837	15,179	18,581	14,360
...	...	...	...	...	...	...	...	...	...	...	1,732	2,468	4,067	4,301	3,191
...	...	...	...	...	...	...	...	...	...	...	84.7	102	112	156	144
...	...	...	...	...	...	...	...	...	...	...	...	...	...	261	211
...	...	...	...	...	...	...	...	...	...	...	...	...	...	350	385
...	...	...	...								503	547	571	676	666
...	...	...	...								1,203	1,161	1,260	1,274	1,164
...	...	...	...	...	...						818	840	660	2,406	1,066
...	...	...	...	...	...	...	...	...	...	...	...	...	...	4,800	...	...	...
...	...	...	...	...	...	...	...	...	...	...	...	...	...	538	...	...	...
...	...	...	...	...	...	...	...	...	...	...	...	...	...	933	...	...	...
...	...	...	...	...							3,374	4,971	5,845	5,309	4,837
...	...	...	...	...							2,054	3,739	4,479	4,564	4,315
...	...	...	...	...							1,298	1,569	2,734	3,950	2,581
...	...	...	...	...							1,675	1,893	2,425	3,047	3,379
...	...	...	...	...							564	1,156	1,347	1,604	1,547
...	...	...	...	...	...	...	...	...	...	...	...	...	2.00	1,341	1,199
...	...	...	...	...	...	...	...	...	...	...	...	...	1,191	1,217	774
...	...	...	...	...	...	...	...	...	...	...	...	...	1,027	758	1,144
...	...	...	...	...	...	...	...	...	...	...	...	...	654	872	815
...	...	...	...	...							240	412	523	750	733
...	...	...	...	...	...	...	...	...	...	...	...	...	...	...	595
...	...	...	...	...	...	...	...	...	...	...	...	...	...	...	1,250
...	...	...	...	...	...	...	...	...	...	...	...	...	...	...	1,057

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KGHM Polska Miedź at a Glance

January 17, 2014

This report offers a summary of the company's performance in 1999-2012. You will find here all the key numbers from the company's balance sheet, income statement and cash flow on the annual basis

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How Much KGHM Invests?

March 21, 2018

KGHM invested total of PLN 3,939 mil in 2015, up 14.7% when compared to the previous year. Historically, company's investments reached an all time high of PLN 3,939 mil in 2015 and an all time low of PLN 317 mil in 2003.

When compared to total sales, investments reached 19.7% in 2015, up from 16.8% seen in the previous year. This is compared to 13.4% seen on average in the last five years.

As far as KGHM's peers are concerned, Bogdanka invested PLN 419 mil, or 22.3% of its sales in 2015. and The comparable figures for PLN 904 mil and 5.33% at OKD are PLN 904 mil and 5.33% respectively on 2015 numbers.

You can see all the company’s data at KGHM Profile, or you can download a report on the company in the report section.

KGHM - Indebtedness

March 19, 2018

KGHM's net debt reached PLN 6,554 mil and accounted for 0.321 of equity at the end of 2015. The ratio is up 89.1% when compared to the previous year.

Historically, the firm’s net debt to equity reached an all time high of 0.635

KGHM's net debt reached PLN 6,554 mil and accounted for 0.321 of equity at the end of 2015. The ratio is up 89.1% when compared to the previous year.

Historically, the firm’s net debt to equity reached an all time high of 0.635 in 2001 and an all time low of -0.549 in 2011.

When compared to EBITDA, net debt amounted to 4.14x at the end of the year. The ratio reached an all time high of 26.4 in 2001 and an all time low of -1.24 in 2011.

As far as KGHM's peers are concerned, Bogdanka posted net debt to equity of 0.218x and 8.62x when compared to EBITDA at the end of 2015. OKD ended the year 2015 with a net debt at 1.41x of equity and 0.209x when compared to its EBITDA while OKD had net debt at 1.41x of equity and 0.209x to EBITDA at the end of the year.

You can see all the company’s data at KGHM Profile, or you can download a report on the company in the report section.

KGHM - Balance Sheet

March 7, 2018

KGHM's total assets reached PLN 36,764 mil at the end of 2015, up 8.14% when compared to the previous year.

Current assets amounted to PLN 6,316 mil, or 17.2% of total assets while cash reached PLN 461 mil at the end of 2015.

KGHM's total assets reached PLN 36,764 mil at the end of 2015, up 8.14% when compared to the previous year.

Current assets amounted to PLN 6,316 mil, or 17.2% of total assets while cash reached PLN 461 mil at the end of 2015.

On the other hand, total debt reached PLN 7,015 mil at the year-end, or 17.2% of total assets while firm's equity amounted to PLN 20,414 mil. As a result, net debt reached PLN 6,554 mil at the end of 2015 and accounted for 32.1% of equity.

You can see all the company’s data at KGHM Profile, or you can download a report on the company in the report section.

KGHM - Cash Flow

March 6, 2018

KGHM's operating cash flow reached PLN 4,163 mil in 2015, down 14.1% when compared to the previous year. Historically, the firm’s operating cash flow reached an all time high of PLN 9,372 mil in 2011 and an all time low of PLN 61.5

KGHM's total investments reached PLN 4,906 mil and accounted for 19.7% of sales in 2015. This is compared to 13.4% seen on average in the last five years.

Since cash from financing amounted to PLN 864 mil, net cash the company generated in 2015 reached PLN 461 mil.

You can see all the company’s data at KGHM Profile, or you can download a report on the company in the report section.

See all charts of the company »

KGHM's net profit fell 305% to PLN -5,012 mil in 2015

KGHM's employees fell 1.46% to 33,598 in 2015

KGHM's price/earnings (P/E) fell 129% to -2.53 in 2015

KGHM's Capital Expenditures rose 14.7% to PLN 3,939 mil in 2015

KGHM's Net Margin fell 310% to -25.1% in 2015

KGHM's ROCE fell 298% to -14.0% in 2015

KGHM's Net Debt/EBITDA rose 407% to 4.14 in 2015

KGHM's Cash & Cash Equivalents fell 2.95% to PLN 461 mil in 2015

KGHM's Total Cash From Operations fell 14.1% to PLN 4,163 mil in 2015