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Teck announces unaudited annual and Q4 results for 2018

Coal News - Published on Fri, 15 Feb 2019

Image Source: teck.com
Teck Resources Limited reported record annual profit attributable to shareholders of USD 3.1 billion for 2018. In the fourth quarter, adjusted profit attributable to shareholders 1 2 was USD 500 million and profit attributable to shareholders was USD 433 million compared with USD 680 million and USD 740 million a year ago. Mr Don Lindsay, President and CEO, said that “2018 was another very good year for Teck. We achieved record earnings of USD 3.1 billion and record EBITDA of USD 6.2 billion, we were very pleased with the extremely successful start-up of production at Fort Hills and we announced the sanctioning of our Quebrada Blanca Phase 2 project and a USD 1.2 billion partnering transaction. Our financial position remains very strong, leaving us well positioned for the coming year.”

Highlights and Significant Items
In 2018, we achieved records in annual profit attributable to shareholders of $3.1 billion, revenues of $12.6 billion and EBITDA of $6.2 billion.
Annual profit attributable to shareholders was a record $3.1 billion ($5.41 per share), compared with $2.5 billion ($4.26 per share) a year ago. Annual adjusted profit attributable to shareholders was $2.4 billion ($4.13 per share) compared with $2.5 billion ($4.36 per share) a year ago.
Adjusted profit in the fourth quarter was $500 million ($0.87 per share) compared with $680 million ($1.18 per share) in the fourth quarter of last year. Profit attributable to shareholders was $433 million ($0.75 per share) in the fourth quarter compared with $740 million ($1.28 per share) a year ago.
Our annual EBITDA was a record $6.2 billion in 2018 compared to $5.6 billion in 2017 and adjusted EBITDA1 was $5.4 billion in 2018 compared with $5.7 billion in 2017. Adjusted EBITDA for the fourth quarter was $1.3 billion compared with $1.5 billion last year. EBITDA was $1.2 billion in the fourth quarter, compared with $1.6 billion a year ago.

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Posted By : Rabi Wangkhem on Fri, 15 Feb 2019
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