Wheaton Precious Metals Corporation (WPM) 2012年年度报告「NYSE」.pdf

1、2012 Annual ReportAs P romisedSILVER WHEATON 2012 ANNUAL REPORT 1Corporate ProfileLetter from the President&CEOGlobal AssetsCornerstone AssetsPerformance HighlightsPrecious Metal StreamingThe Silver MarketCorporate Social ResponsibilityManagements Discussion and Analysis&Financial Statements24678910

2、1113We said we would grow organically,and we have.We said we would acquire accretive new streams,and we did.We said the dividendwould increase,and it has.And we promise to continue delivering shareholder value.4CORPORATE PROFILE2We are the worlds largest precious metal streaming company,and the worl

3、ds second largest silver company.Led by a highly skilled and committed management team,we are driven to be the most successful precious metal company in the world.Our exceptional production profile is driven by a world-class portfolio of assets and we are continuously exploring high-quality,value-en

4、hancing acquisition opportunities.Silver Wheaton is uniquely positioned to make strategic additions to our already impressive portfolio of partnerships and to return equally impressive returns to our shareholders.SILVER WHEATONSILVER PRICEPHLX GOLD AND SILVER INDEXPEER AVERAGE*200%400%600%800%1000%0

5、%01020304050602009A2010A2011A2012A2013E2017EAnother year of record production and record sales led to a 7%increase in Silver Wheatons net earnings in 2012.Silver Wheatons attributable production increased for the fourth consecutive year,to 29.6 million silver equivalent ounces,resulting in record ne

6、t earnings of$586.0 million($1.66 per share)and operating cash flows of$719.4 million($2.03 per share).With an average annual realized silver equivalent price of$31.09 per ounce,and operating costs of$4.30 per ounce,our cash operating margin in 2012 was$26.79 per ounce.In 2013,based upon the company