OREANDA-NEWS. September 04, 2013. Polyus Gold International Limited (LSE – PGIL, OTC (US) – PLZLY, “PGIL”, “Polyus Gold” or the “Company”), releases its unaudited IFRS financial results for the first half of 2013.

Highlights
Total revenue of USD 1.0 billion (H1 2012: USD 1.2 billion), reflecting an 8% decrease in the realised gold price and a 5% decrease in gold sold;

Non-cash impairment charge of USD 469 million relating to the reassessment of the future prospectivity of the exploration and evaluation asset portfolio and reconsideration of the economic recoverability of mining assets and stockpiles following the recent fall in the gold price;

Loss for the period from continuing operations of USD 173 million, compared to a profit of USD 419 million in H1 2012;

Loss per share of 5 US cents (H1 2012: Earnings per share of 13 US cents);

Operating profit before deducting impairment charges1 of USD 313 million, compared to USD 537 million in the H1 2012;

Profit for the period from continuing operations before deducting impairment charges2 of USD 255 million (H1 2012: USD 430 million);

Net cash flow from operations of USD 100 million (H1 2012: USD 467 million);

Adjusted EBITDA3 of USD 417 million (H1 2012: USD 609 million) resulting in an Adjusted EBITDA margin of 41% (H1 2012: 52%);

Total cash cost per ounce sold4 of USD 757 (H1 2012: USD 628);

Issuance of USD 750 million notes due 2020 with a coupon of 5.625% per annum;

Cash and cash equivalents of USD 1.2 billion (compared to USD 960 million as at 31 December 2012).