Newcrest has reported an FY16 full year Statutory profit1 of US$332 million and an Underlying profit2 of US$323 million underpinned by production of 2.439 million ounces of gold. As reported to the market on 17 December 2015, Newcrest has changed its reporting (presentation) currency from Australian dollars to US dollars (US$) in the current financial year. All financial data presented in this release is quoted in US$ unless otherwise stated.3
Key Points for FY164  Statutory profit of US$332 million and Underlying profit of US$323 million  Free Cash Flow2 of US$814 million  Net debt reduced 27% (US$0.8 billion) over the year to US$2.1 billion as at 30 June 2016  Final dividend of US 7.5 cents per share  Gold production5 increased 1% to 2.4 million ounces for the year  Group All-In Sustaining Cost2 per ounce decreased 2% to US$762 per ounce for the year  Group All-In Sustaining Cost margin decreased 8% to US$404 per ounce for the year.

Newcrest Managing Director and Chief Executive Officer, Sandeep Biswas, said: “Newcrest’s financial performance in the 2016 financial year was solid, with all sites contributing positive free cash flow and the Group achieving a 27% reduction in net debt. The resulting improvement in Newcrest’s target financial metrics, together with Newcrest’s profitability and market conditions, has given the Board confidence to announce a final unfranked dividend of US 7.5 cents per share. Newcrest continues to focus on safety, operational discipline and cash flow generation, and has identified a range of opportunities to improve its performance in FY17 and pursue profitable growth.” With gold production of 2.439 million ounces, at an All-In Sustaining Cost of $762 per ounce, and copper production of 83kt, Newcrest was within its guidance ranges despite challenges at some sites. This achievement was driven by record gold production at Lihir, which produced 900,034 ounces for the year. At Cadia, Panel Cave 2 continued its ramp up and Cadia East became the sole feed source for the plant with Ridgeway placed on care and maintenance in March 2016. In parallel with a focus on safe production, Newcrest’s pursuit of profitable growth has progressed through advancing studies at Lihir, Cadia and Golpu and continued to build its low cost early entry portfolio of exploration options – all of which are aimed at profitable growth.

Summarised Financial and Operating Results4 For the 12 months ended 30 June
Highlights Endnote Metric 2016 2015 Change Change %
Revenue $m 3,295 3,604 (309) (9%)
Statutory profit 1 $m 332 376 (44) (12%)
Underlying profit 2 $m 323 424 (101) (24%)
EBITDA 2 $m 1,292 1,385 (93) (7%)
Cash flow from operating activities $m 1,241 1,280 (39) (3%)
Free Cash Flow 2 $m 814 854 (40) (5%)
Total equity $m 7,120 6,957 163 2%
Net debt $m 2,107 2,889 (782) (27%)
Gearing % 22.8 29.3 (6.5) (22%)
Net debt to EBITDA 2 times 1.6 2.1 (0.5) (24%)
EBITDA margin 2 % 39.2 38.4 0.8 2%
EBIT margin 2 % 18.0 22.5 (4.5) (20%)
ROCE % 6.2 7.8 (1.6) (21%)
Interest coverage ratio times 11.3 10.4 0.9 9%
Group production - gold 5 oz 2,438,994 2,422,568 16,426 1%
- copper 5 t 83,070 96,816 (13,746) (14%)
All-In Sustaining Cost 2 $/oz 762 780 (18) (2%)
All-in Sustaining Cost Margin 2 $/oz 404 441 (37) (8%)
Realised gold price $/oz 1,166 1,221 (55) (5%)
Realised copper price $/lb 2.21 2.89 (0.68) (24%)
Average exchange rate AUD:USD 0.7285 0.8388 (0.1103) (13%)
Average exchange rate PGK:USD 0.3358 0.3885 (0.0527) (14%)
Closing exchange rate AUD:USD 0.7426 0.7680 (0.0254) (3%)

Please refer to the Company’s “ASX Appendix 4E and Annual Financial Report” released on 15 August 2016, and the Operating and Financial Review in particular, for more detail on the Company’s financial results.

Safety Newcrest is committed to eliminating fatalities and life-altering injuries from its business. Improving and sustaining the Company’s safety performance is a major focus for the Board and Management. As reported in the FY16 Half Year Results, Newcrest conducted a safety review during the year which helped focus the safety improvement effort on three key programs – NewSafe, Critical Control Management and Process Safety. NewSafe aims to build a stronger safety culture throughout the organisation. The roll out of NewSafe has progressed within the Company, and is well advanced at Cadia and Telfer and commenced at Gosowong in February. Lihir and Bonikro will commence NewSafe in FY17. Critical Control Management is focused on ensuring that managers, supervisors, and front line operators know what the critical controls are for every high-risk task, and that the critical controls are established, in place and working before that task commences. Across the Company, over 1,000 System Verifications have taken place and over 9,000 Field Critical Control Checks have been completed since May 2016. On Process Safety, Newcrest is pursuing the development of a systematic and comprehensive framework for managing the integrity and containment of high energy and toxic processes.

read more on
http://www.newcrest.com/media/market_releases/2016/FY16_Results_Release_Final.pdf


Dividend Announced
Newcrest today announced that the Board has determined to pay an unfranked final dividend of US 7.5 cents per share to be paid on Tuesday, 18 October 2016. The dividend will be paid from conduit foreign income and will be exempt from withholding tax. The key dates in relation to the final dividend are set out in the table below.
ACTION ----- DATE
Ex Dividend Date
Wednesday, 21 September 2016 Record Date and Currency Conversion Date Thursday, 22 September 2016
Election Date – final date to elect to receive US dollars and to participate in the Dividend Reinvestment Plan (DRP)
Friday, 23 September 2016 VWAP1 period begins for DRP Monday, 26 September 2016
VWAP1 period ends for DRP
Friday, 30 September 2016 Payment / Share Issue/Allotment Date Tuesday, 18 October 2016
1 The subscription amount for shares allotted under the DRP will be an amount in cents that is the arithmetic average of the daily volume weighted average sale price for Newcrest shares sold on the ASX during the VWAP period rounded down to the nearest full cent.
US dollar election
If you have a US dollar bank account domiciled in the US you can elect to receive funds in US dollars instead of Australian dollars or Papua New Guinea kina by providing your bank account details to our Share Registry by no later than 5:00pm on 23 September 2016, being the Election Date. Payments cannot be made to a US dollar bank account that is not domiciled in the US.
Payment currencies
The currencies in which dividend payments will be made are included in the table below. Dividend payments made in Australian dollars and Papua New Guinea kina will be converted from US dollars at the prevailing exchange rate on 22 September 2016, being the Record Date.
CURRENCY
SHAREHOLDERS
US dollars
Shareholders who have nominated a US dollar bank account domiciled in the US by 5:00pm on Friday, 23 September 2016, being the Election Date Papua New Guinea kina All shareholders with a registered address in Papua New Guinea
Australian dollars
All other shareholders
Direct credit
All shareholders who have not previously provided bank account details to our Share Registry are encouraged to do so to enable dividend payments to be made by direct credit. Those shareholders who do not take advantage of the direct credit facility will continue to be paid their dividend by cheque.

Dividend Reinvestment Plan (DRP)
The DRP will apply to the final dividend. The DRP allows eligible shareholders to reinvest part or all of their dividends into Newcrest shares. No discount will be applied to allotments made under the DRP. A copy of the DRP Rules is available on the Company’s website at http://www.newcrest.com.au/investors.
How to update your banking details, elect to receive US dollars or elect to participate in the DRP
Most shareholders will be able to update their details via the internet at https://investorcentre.linkmarketservices.com.au. You will need your Security Holder Reference Number (SRN) or Holder Identification Number (HIN) to register. This number is located on your holding statement.
If your shareholding is valued at A$50,000 or over, is a joint holding or is in the name of a company and not registered in a portfolio, then you will need to register a portfolio to enable you to update your holding details online. To register your portfolio go to https://investorcentre.linkmarketservices.com.au.
If your shareholding is valued at A$200,000 or over, you will be sent a personalised letter with the relevant forms. Completed forms will need to be returned to our Share Registry.
If you have any queries regarding your shareholding or require assistance in updating your payment instructions online, please contact our Share Registry, Link Market Services, on 1300 554 474 (within Australia), +61 1300 554 474 (outside Australia) or online at www.linkmarketservices.com.au