07 aug: Vestas/SEB: Sænker kursmål til 40 kr
07 aug: Danske Bank/CEO: Indtjeningen skal mere end fordobles
07-08-2012 12:40:00

Xstrata Able to Fund Capex Program and Maintain Dividend - CFO

Relateret indhold

By Alex MacDonald

LONDON--Anglo Swiss miner Xstrata PLC (XTA.LN) has the capacity to complete its current capital expenditure program without losing its investment grade rating or sacrificing its progressive dividend policy, the company's chief financial officer said Tuesday.

"Clearly, my primary priority was to enter this period of accelerated capital spend with a balance sheet that could sustain very extreme headwinds in terms of pricing," Trevor Reid told analysts in a call. "Given our outlook for commodities, even if you run a downside case, we still think we will be able to maintain a progressive dividend."

Xstrata said Tuesday that it would defer about $1 billion in capital expenditure this year, but that this wouldn't have any effect on the commissioning schedule of its projects.

It expects to make up for the deferred spending by increasing its capital spend by $400 million in 2013 and $600 million beyond that.

"We haven't cancelled any projects and we haven't moved back the scheduling for commissioning of any approved projects," Xstrata's Chief Executive Mick Davis told Dow Jones Newswires in an interview.

Xstrata now expects to spend $7.2 billion on capital expenditure in 2012, but said that the timing of its approved projects hasn't changed.

Mr. Reid told analysts that the company has very little flexibility in terms of adjusting its approved capital program.

"Obviously we could [adjust that] but it would be expensive to do and I think value destructive," he said, adding that the company does have flexibility in terms of the sequencing of its unapproved projects.

Write to Alex MacDonald at alex.macdonald@dowjones.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

(END) Dow Jones Newswires

August 07, 2012 06:40 ET (10:40 GMT)

Copyright (c) 2012 Dow Jones & Company, Inc.

Opret kommentar

Relateret debat

  • 1 uge
  • 1 måned
  • 1 År
Ingen indlæg

Fondsbørsmeddelelser

Vind: GE leverer 100 MW til kenyansk møllepark

27-07-2015 12:20:03
Det amerikanske industriselskab General Electric, der inden for salg af vindmøller er konkurrent til danske Vestas, skal levere møller med en samlet kapacitet p..

Siemens får tre vindmølleordrer på sammenlagt 162 MW

27-07-2015 11:21:45
Siemens Wind Power har sikret sig kontrakter til tre vindmølleprojekter i Skotland og Irland. Der er tale om bestillinger af 52 møller med en kapacitet på samme..

Mærsk: Ratepres på de store ruter fortsætter

27-07-2015 08:03:31
Det konstante ratepres på containerrederierne fortsatte sidste uge. På alle de store ruter faldt spotraterne ifølge tal fra SCFI-indekset.På den tunge handelsru..

Mest læste nyheder

  • 24 timer
  • 48 timer
  • 1 uge
1
Korr: Aktier/tendens: Internationale kursfald ventes at ramme
2
Kina/Nordea: Investorer panikker og bryder loven
3
Kinesiske aktier sendes ind i nyt styrtdyk - NY
4
Mandagens aktier: Kinesisk aktieuro gav massiv C20-nedtur
5
Aktier/middag: Genmab og FLSmidth får størst hug i rødt marked

Relaterede aktiekurser

Lonmin PLC 57,57 0,0% Aktiekurs uændret
Glencore PLC ORD USD0.01 206,86 0,0% Aktiekurs uændret

Køb- og salgsanbefalinger

  • Trend
  • Pengemaskinen

Copyright Euroinvestor A/S 2015  Disclaimer Privatlivspolitik
Aktieinformation leveres af Interactive Data.
Data er forsinket 15-20 minutter iht. de enkelte børsers regler om videredistribution.
 
28. juli 2015 07:49:48
(UTC+01:00) Brussels, Copenhagen, Madrid, Paris
Version: LiveBranchBuild_20150716.1 - EUROWEB4 - 2015-07-28 07:49:48 - 2015-07-28 07:49:48 - 1 - Website: OKAY

Når du besøger Euroinvestor.dk accepterer du, at der anvendes cookies, som vi og vores samarbejdspartnere benytter til funktionalitet, statistik og markedsføring. Læs mere om cookies på Euroinvestor.dk her

x