http://cravingconfidence.com/News/half-yearly-financial-report-for-the-six-months-to-30-june-2022-and-interim-dividend/ Kenmare Resources Kenmare Resources plc (“Kenmare” or “the Company” or “the Group”) 17 August 2022       Half-Yearly Financial Report for the six months to 30 June 2022 and interim dividend Kenmare Resources plc (LSE:KMR, ISE:KMR), one of the leading global producers of titanium minerals and zircon, which operates the Moma Titanium Minerals Mine (the "Mine" or "Moma") in northern Mozambique, today publishes its Half-Yearly Financial Report for the six month period ended 30 June 2022 (“H1 2022”) and announce Read Mores its interim dividend for 2022. Statement from Michael Carvill, Managing Director: “ In H1 2022, s trong market conditions for all Kenmare’s products continued , leading to a record average received price of $429 per tonne and supporting record first half revenues. EBITDA increased 28%, resulting in a 30% increase in profit after tax, and giving us confidence to increase our interim dividend to USc10.98 per share. This represents a 51% increase compared to last year’s interim dividend, benefitting from the share buy-back completed in December 2021. After a challenging first five months of the year , production improved in late May and th is ha s continued for the 12 weeks since then . At this run rate, we remain on track to achieve guidance, albeit at the bottom of the range. We ended the first half of the year with a robust balance sheet, having reduced net debt by $17.3 million. We expect that our financial position will continue to strengthen in H2 2022, as shipments are anticipated to increase and our order book is largely committed.” H1 2022 overview Financials and markets Interim dividend of USc10.98 per share, a 51% increase on H1 2021 (USc7.29), in line with Kenmare’s target dividend payout ratio of 25% of profit after tax for 2022 Revenue on a free on board (“FOB”) basis of $182.1 million in H1 2022, a 9% increase compared to H1 2021 ($167.8 million), due to a higher average price received for Kenmare’s finished products more than offsetting lower shipment volumes EBITDA of $105.5 million, a 28% increase compared to H1 2021 ($82.3 million), and profit after tax of $62.5 million, a 30% increase (H1 2021: $48.0 million) Record average price received on an FOB equivalent basis for all finished products of $429 per tonne in H1 2022, a 52% increase compared to H1 2021 ($282 per tonne), benefitting from strong market conditions for all products Cash operating cost per tonne of finished product of $184 per tonne, a Wed, 17 Aug 2022 08:38:39 UTC en