Business and Financial Review Financials
Notwithstanding a weak metal price environment, Hudbay delivered strong financial results in 2015, reflecting the results of new capital investment and management’s focus on cost optimization. Revenue increased by 75% to $886.1 million. Operating cash flow before stream deposit and change in non-cash working capital increased more than 13-fold, from $16.8 million to $222.1 million. Cash cost per pound of copper produced, net of byproduct credits, decreased from $1.45 per pound to $1.14 per pound.*
* Operating cash flow per share and cash cost per pound of copper produced, net of byproduct credits, are non-IFRS financial performance measures with no standardized definition under IFRS. For further information and a detailed reconciliation, please see the discussion under “Non-IFRS Financial Performance Measures” beginning on page 48 of Hudbay’s Management‘s Discussion and Analysis filed February 24, 2016.