Financial KPIS Operating KPIS Sustainability KPIS
Revenue
+1% (US$m)
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This top-line indicator is heavily dependent on commodity prices but also driven by the delivery of production volumes.

In 2021, revenue increased by 1% year-on-year to $2,890 million driven by the growth of gold and silver average realised prices. Gold and silver sales were broadly in line with production volume trends.

Total cash cost
+15% (US$/GE oz)
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High-grade, full-capacity utilisation and continued operational improvement, as well as foreign exchange rates and oil prices are the key drivers behind total cash cost (TCC) per ounce.

TCC was $730/GE oz, up 15% year-on-year, owing to above-CPI inflation in the mining industry and planned decline in grades processed at Kyzyl, Svetloye and Mayskoye.

All-in sustaining cash cost
+18% (US$/GE oz)
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AISC increased by 18% to $1,030/GE oz, reflecting higher inflationary pressures on capital expenditure.

Adjusted EBITDA
-13% (US$m)
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Adjusted EBITDA provides an indicator of our ability to generate operating cash flows from the current business.

In 2021, Adjusted EBITDA was $1,464 million, 12% lower than in 2020, mainly driven by higher costs against the backdrop of relatively stable sales volumes and revenue.

Free cash flow
-31% (US$m)
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In 2021, Polymetal generated significant free cash flow of $418 million (2020: $610 million) driven by strong commodity prices and an excellent operational performance, and paid out $635 million of dividends.

Dividends proposed for the year
-25% (US$/share)
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Our aim is to deliver significant dividends to our shareholders at all stages of both the commodity cycle and our investment cycle.

In 2021, dividends of $459 million were proposed, representing $0.97 per share compared with $1.29 per share in 2020.

Underlying return on equity
-23 p.p. (ROE) (%)
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The most important metric for evaluating a company’s profitability. Measures the efficiency with which a company generates income using the funds that shareholders have invested.

Capital expenditure
+30% (US$m)
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In 2021, total capital expenditure was US$ 7591 million, up 36% year-on-year mainly due to accelerated spending across the development projects portfolio, notably, POX-2, Kutyn, Voro flotation and Veduga.

Underlying net earnings
-15% (US$m)
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Underlying net income is a comprehensive benchmark of our core profitability, excluding foreign exchange gains/losses, impairments and one-off non-recurring items.

Underlying net earnings decreased by 13% to $913 million, reflecting the decrease in operating profit.

Net earnings
-17% (US$m)
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Underlying net income is a comprehensive benchmark of our core profitability, excluding foreign exchange gains/losses, impairments and one-off non-recurring items.

Underlying net earnings decreased by 13% to $913 million, reflecting the decrease in operating profit.

Gold equivalent production
+8% (Koz)
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Annual target for gold equivalent (GE) production is an indicator to the market of our confidence in delivering stable and reliable growth.

In 2021, GE output amounted to 1,677 Koz, a 2% increase year-on-year and 5% above the original production guidance of 1.6 Moz.

Ore reserves
+7% (Moz)
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Extending life-of-mine, both through near-mine exploration and new discoveries from greenfield exploration, contributes to the Company’s long-term growth prospects.

In 2021, the Company increased its ore reserves by 7% to 29.9 Moz of GE on the back of successful near-mine exploration at Nezhda, Veduga and Kutyn (Albazino hub), as well as initial reserve estimates at Elevator (Varvara hub), Saum (Voro hub), and Nevenrekan (Omolon hub).

Lost time injury frequency rate
0% (LTIFR)
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An improvement in the health and safety record at our operations, with a goal of zero fatalities, is a key priority.

No fatal accidents occurred among the Group employees in 2021 (2020: zero fatalities). Sadly, a contract driller lost his life in July at Saum, part of the Voro hub (2020: zero fatalities). Lost time injury frequency rate (LTIFR) among the Group’s employees was stable at 0.12.

GHG intensity
-11% (tonnes per Kt of ore processed)
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To achieve sustainable deceleration of global warming and rising temperatures, we continue to reduce our GHG emissions and are committed to developing long-term goals for 2050 and successfully achieving carbon neutrality.

In 2021, we reduced our GHG intensity (Scope 1 and Scope 2) by 7% compared with 2020 and by 9% compared with 2019 (target base year).

You are downloading Integrated Annual Report . Please note that some ESG data are available in Sustainability Performance Data 2021 (GRI and SASB) that outlines our key non‑financial performance information for financial year 2021.

While the selected files are being downloaded, we want to draw your attention to the reports on the sustainable development of the company. They provide detailed information on ESG indicators.

You can also download historical data on sustainable development.

2019