generated strong cashflows, increasing operating cashflow to...

generated strong cashflows, increasing operating cashflow to A$77.0m for the year, and is well positioned to fund and complete several organic growth projects.
Key Metrics for FY18
 Strong balance sheet with cash at bank of A$151.6m
 Sales revenue of A$248.3m (A$213.9m)
 Average realised price of nickel (before payability) of A$7.53/lb (A$6.11/lb);
 EBITDA of A$84.0m (underlying A$51.9m1)
 EBITDA margin improved by 40.0% to 33.8% (underlying 24.2%)
 Underlying and statutory NPAT of A$11.8m (underlying NLAT A$11.5m2)
 Fully franked final dividend of 2.0c per share has been declared
 Primed and well-funded for growth, with a focus on the Odysseus Project development at
Cosmos
(Comparisons in brackets refer to the corresponding period FY17)
The second half of FY18 saw an improvement in key financial results versus the first half with net profit after tax (NPAT) increasing by A$4.8m to A$8.3m and free cashflow of A$19.1m after all capital expenditure, feasibility study and exploration costs, due mainly to an improved realised nickel price.
Based on the return to underlying profitability, strong financial position of the Company and balancing future capital requirements of Western Areas’ growth projects, the Board has decided to declare a fully franked 2.0c per share dividend. This represents a payout ratio of approximately 46% on FY18 NPAT.