五矿资源(01208.HK)中期EBITDA减少34%至6.47亿美元
格隆汇8月21日丨五矿资源(01208.HK)发布中期业绩，截至2019年6月30日止6个月，公司持续经营业务实现收入13.87亿美元，同比减少27%；EBITDA6.47亿美元，同比减少34%；基本每股亏损1.01美仙；不派中期股息。
公告表示，与2018年上半年相比，集团收入减少27%，这是由于销量下跌(3.286亿美元)及已实现商品价格下降(1.828亿美元)所致。销量下跌主要是受到于Las Bambas的社区相关阻断及Kinsevere的铜产量下跌所影响，被于2018年5月1日实现商业化生产后Dugald River于2019年上半年录得额外4个月销量部分抵销。已实现价格下降带动铜(1.218亿美元)、锌(4700万美元)、铅(1000万美元)、银(590万美元)及钼(180万美元)的收入减少，被黄金(370万美元)已实现价格上升部分抵销。
上半年，MMG(澳洲交易所股份代码)生产铜215,527吨及锌114,080吨。Las Bambas生产铜精矿含铜185,825吨，与2018年上半年相比产量维持稳定。收入低于2018年上半年，原因是铜价下跌及销量减少，销量下跌乃归因于2019年2月初至4月中旬发生社区堵路。四月初的持续堵路导致选矿长被迫停工。但4月13日道路交通重新启动，运营很快恢复到正常水平。
MMG预期于2019年全年将生产铜450,000至455,000吨及锌250,000至270,000吨，总资本支出介乎4亿美元至5亿美元。
展望下半年，全球贸易改善前景仍面临诸多挑战，世界经济下行压力不减，中国经济也呈现出增长动能趋弱迹象，大宗商品需求端压力可能继续增加。不过，受到全球范围内罢工、灾害、环保等多种因素影响，今年以来主要金属矿产品供应端也呈现收缩态势，未来影响有可能进一步放大。中长期来看，“一带一路”沿线国家对大宗商品的需求潜力将持续释放，中国加快推进高质量发展将带来重要商品需求的稳步增加，全球范围内新能源产业加速发展，将有力支撑铜、锌等金属的需求增长。为此，集团对公司所经营商品未来发展持乐观态度。
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