KGHM net profits fall to PLN 163 mln in Q1

Poland’s copper and silver mining giant KGHM recorded a consolidated net profit of PLN 163 million in Q1 2016, compared with a PLN 397 million one year earlier, the company said in a statement. The Group’s revenues in the first quarter of 2016 reached PLN 3.9 billion, versus PLN 4.7 billion in Q1 2015. EBITDA in the KGHM Group amounted to PLN 987 million – lower by PLN 294 million than in the corresponding period in 2015. KGHM, which is based in Lublin, is one of the largest producers of copper and silver in the world. In 2015, KGHM’s revenue stood at PLN 20 billion.