EURASIAN NATURAL RESOURCES CORPORATION PLC (ENRC, United Kingdom) announces H1 Y2011 operating results

September 2. KASE

EURASIAN NATURAL RESOURCES CORPORATION PLC (ENRC, United Kingdom) announces H1 Y2011 operating resultsFinancial Highlights for H1 2011

– Strong growth against H1 2010. Recovery in our traditional markets, the continued strength of the Chinese economy and significantly higher commodity prices. Revenue up 32% to US$4,011 million.

– Total costs increased 30% to US$2,344 million, due to higher unit costs of sale, volume growth and the costs for developing the businesses in Africa and Brazil.

– Underlying EBITDA up 33%, to US$1,927 million; Underlying EBITDA margin steady at 48% (H1 2010: 47%).

– Earnings per share up 30%, to US 91 cents.

– Dividend per share of US 16 cents; a dividend payout ratio of 18%.

– Strong balance sheet: gross available funds, US$1,600 million; net debt, US$2 million.

– A substantial increase in the operating cash flow, to US$1,184 million.

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