KGHM, Poland’s copper giant, could see its 2013 earnings fall by 18 percent, according to market watchers. The company will likely bring in just PLN 3.88bn by the end of the year with dividends reaching just PLN 12 per share, according to the business server parkiet.pl. KGHM will unveil its official 2013 forecast in February.
“Along with the macroeconomic factors, the results for KGHM will also be impacted by new investments, such as the renovation of Huta Głogów, which will result in lower production and sales,” said Artur Iwański of DM PKO BP. KGHM will also have to pay a mineral tax for the whole year, while in 2012 it was just for eight months, Iwański added.
