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    KGH   PLKGHM000017

KGHM POLSKA MIED? S.A.

(KGH)
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Delayed Warsaw Stock Exchange  -  12:05:16 2023-01-31 pm EST
140.65 PLN   -2.12%
01/26Kghm Polska Mied? S A : mine in green – Sierra Gorda powered by electricity from RES
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01/24Kghm Polska Mied S.A. Group Reports Preliminary Sales Results for the Month and Year to Date Ended December 2022
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01/24Kghm Polska Miedz S.A. Announces Group Operating Results for the Month and Year to Date Ended December 2022
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KGHM Polska Mied? S A : innovation recognized - won the 2022 Super Business Golden Laurel award

10/21/2022 EST
The company was awarded the 2022 Super Business Golden Laurel award in the "Innovation" category. The jury recognized KGHM's pioneering work in the development of nuclear power in Poland. The award was presented at an awards ceremony in Warsaw.

KGHM was the first company in Poland to submit an application to the National Atomic Energy Agency for the implementation of small modular reactors (SMRs). The document concerns an evaluation of technology and technical solutions. The copper industry leader is working on the investment project together with the American company NuScale Power. The investment in SMR is closely linked to the strategic area of energy and KGHM's Climate Policy, which declares the plan to achieve climate neutrality by 2050.

Transformation of the copper industry leader

KGHM Polska Miedź S.A., as one of the world's leaders in copper and silver production, consciously develops its operations in accordance with the principles of sustainable development and responsible business. In 2021, the company adopted an ambitious Climate Policy and announced the KGHM Group's Decarbonization Program, which will set out the overall capital expenditures related to the implementation of measures aimed to reduce greenhouse gas emissions.

Reduction of greenhouse gas emissions and diversification of energy sources are a part of the company's transformation. KGHM is planning to supply a half of the energy it consumes from its own sources, including Renewable Energy Sources, by 2030.

The company has its own low-carbon generation sources, operates photovoltaic projects, and has engaged in the development of offshore wind projects. The company is also a national pioneer in the field of nuclear power. In February of this year, KGHM signed an agreement with NuScale, an American supplier of the SMR small nuclear reactor technology. Clean energy from the first power plant of this type is expected to power the company's production branches still in this decade.

Innovative approach

NuScale Power's modular light-water reactor nuclear power plant technology provides energy for power generation, district heating, desalination, hydrogen production, and other process heat applications. This breakthrough technology is the only small modular reactor technology to receive approval from the U.S. Nuclear Regulatory Commission.

A feasibility study for the project is currently being prepared. Meanwhile, in July 2022, Polska Miedź was the first company to apply to the President of the PAA for a so-called general opinion, which is intended to determine whether the reactor offered by the technology supplier meets Polish nuclear safety and radiological protection requirements.

Super Business Golden Laurels

The awards are given to individuals, institutions, and companies for activities that bring special benefits to the Polish economy and for achievements that foster the development of domestic entrepreneurship. This year, the awards committee gave awards for the ninth time in nine categories, including personality of the year, innovation, CSR, and support for the development of entrepreneurship and promotion of Poland in the world.

Disclaimer

KGHM Polska Miedz SA published this content on 21 October 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 October 2022 11:13:02 UTC.


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Financials
Sales 2022 33 827 M 7 803 M 7 803 M
Net income 2022 5 460 M 1 260 M 1 260 M
Net Debt 2022 4 152 M 958 M 958 M
P/E ratio 2022 5,34x
Yield 2022 2,11%
Capitalization 28 130 M 6 489 M 6 489 M
EV / Sales 2022 0,95x
EV / Sales 2023 0,94x
Nbr of Employees 33 894
Free-Float 68,2%
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Number of Analysts 11
Last Close Price 140,65 PLN
Average target price 112,01 PLN
Spread / Average Target -20,4%
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Managers and Directors
Tomasz Zdzikot President & Chief Executive Officer
Agnieszka Winnik Kalemba Chairman-Supervisory Board
Michal Zborowski General Director-Administration & Purchasing
Andrzej Kisielewicz Member-Supervisory Board
Boguslaw Szarek Member-Supervisory Board
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