KGHM, a leading global copper and silver producer, has released its results for the year 2023, highlighting efficient production, increased investments, financial stability, and a commitment to sustainable development.
In 2023, KGHM exceeded its production targets for copper in concentrate, silver in concentrate, electrolytic copper, and metallic silver. Consolidated revenues of the KGHM Group reached PLN 33.5 billion, with adjusted EBITDA at nearly PLN 5.4 billion and equity of the Group at PLN 26.8 billion.
Investments in 2023 focused on advancing mining projects, such as connecting the GG-1 shaft to the Rudna mine and commencing preparatory work for the GG-2 shaft. The company also completed work on a Central Air Conditioning System and a Surface-based Air Conditioning Station at the Rudna mine. Additionally, KGHM continued to develop the Żelazny Most Tailings Storage Facility and the Hybrid Smelter program at the Legnica Copper Smelter and Refinery.
KGHM ended 2023 in a strong financial position, with PLN 33.5 billion in consolidated revenues and a Group operating result of nearly PLN 5.4 billion. Cash and cash equivalents increased by PLN 0.5 billion, and the company maintained a safe level of debt, with net debt/EBITDA at 1.1.
The company is committed to sustainable development and has enhanced actions related to responsible production. KGHM is advancing its Climate Policy and projects involving energy transformation. By 2030, the company aims to significantly reduce CO2 emissions through the increased use of renewable energy sources.
KGHM’s safety initiatives include operating under the “Zero harm” principle, employing early warning systems and innovative solutions to improve workplace safety, and conducting over 300 assistance and charitable actions in 2023. The company also commenced a KGHM Academy, which offers preventive programs, workshops, and pro-social actions.
In summary, KGHM’s 2023 results demonstrate efficient production, increased investments, financial stability, and a commitment to sustainable development, positioning the company for continued success in the global copper and silver markets.
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