Business and Financial Review Financials
In 2017, Hudbay was again able to meet or exceed our guidance ranges for the year, on a consolidated basis, and we continued to generate free cash flow. Combined unit operating costs at Manitoba and Peru exceeded our 2017 guidance, primarily due to increased operating costs and lower than expected mill throughput. Buoyed by a favourable metals pricing environment, our revenue for the year was $1,362.6 million, a 21% increase over 2016. We were able to achieve an all-in sustaining cash cost for copper produced, net of byproduct credits, of $1.52 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 39 of Hudbay’s Management’s Discussion and Analysis filed February 21, 2018.