Full Year 2024 Central Asia Metals PLC Earnings Call Transcript
Key Points
- Central Asia Metals PLC (CAMLF) reported a strong revenue of $214.4 million for 2024, with an EBITDA of $101.8 million and a margin of 47%.
- The company generated a free cash flow of $65.7 million, allowing for a full-year dividend of 18p, representing 63% of the free cash flow.
- Production at Kounrad was stable, with copper production in line with guidance, and Sasa's modernization efforts extended its mine life to 2039.
- The company achieved a 44% reduction in Scope 1 and 2 greenhouse gas emissions, progressing towards its 50% reduction target by 2030.
- Central Asia Metals PLC (CAMLF) maintains a strong balance sheet with $67.6 million in cash and minimal debt, providing flexibility for future growth opportunities.
- Sasa's production was slightly below guidance due to challenges with the transition to paste backfill mining, impacting tonnage.
- The company faced two minor lost-time injuries, although the frequency rate was below target.
- Inflation and foreign exchange fluctuations impacted costs, with increased group admin costs and higher silver purchases affecting cost of sales.
- Despite reviewing numerous business development opportunities, the company did not secure any new acquisitions, citing competition and valuation challenges.
- The commissioning of the dry-stack tailings plant at Sasa is expected to increase operational costs, although efficiencies are being sought.
Good morning and welcome to the Central Asia Metals 2024 results presentation. Before we start, I think Camel would just like to offer our condolences to all of those affected by the recent tragedy in North Macedonia. Our thoughts are with everyone in that country and in particular any of our staff members that have been affected directly by this tragedy. Thank you.
Moving on to the 2024 overview of our performance, very encouraging performance during the year, with revenue at $214.4 million, driving an EBITDA figure of $101.8 million at a margin of 47%. We generated free cash flow of $65.7 million through the year and that allowed the Board to announce a 9p dividend for the final 2024 dividend, bringing the full year dividend to 18p, which represents 63% of that free cash flow number.
That performance was achieved in a very safe manner. We unfortunately had two last time injuries through the year. Fortunately these were minor injuries, but our last time injury frequency rate is 0.77, which is below our target, which is a
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