Full Year 2025 Fresnillo PLC Earnings Call Transcript
Key Points
- Fresnillo PLC (FNLPF) reported a record financial performance with significant margin improvements and strong earnings per share.
- The company exceeded its gold production guidance and met its silver production guidance, showcasing operational stability.
- Fresnillo PLC achieved cost savings of $46 million in 2025, primarily in the Eradura district, and remains focused on cost control.
- The acquisition of Probe Gold in Canada added 10 million ounces of gold to Fresnillo's resource base, aligning with its strategy of acquiring quality assets.
- A record dividend payout of $950 million was returned to shareholders, reflecting strong shareholder returns.
- Fresnillo PLC experienced a decrease in silver sales volume by 11% and gold sales volume by 4.5% compared to the previous year.
- The company faced challenges with cost inflation, although it was partially offset by favorable exchange rate impacts.
- Two fatalities occurred in the past year, highlighting ongoing safety challenges despite improvements in injury frequency rates.
- The San Julian operation faced higher costs due to transitioning from two deposits to one, impacting unit costs.
- The company anticipates higher provisional tax payments in 2026 due to increased revenues and higher tax factors.
Good morning everyone.
Thank you for joining us today.
My name is Octavio Alvidres and I'm the CEO of FresNo PLC. Here with me this morning, we have Mario Arreguin, our CFO.
I'm joined also by our chief operating officers, Tomas Iturriana.
Of the central region and Daniel Diaz of the northern region, and our Vice President of exploration, Guillermo Castello.
I would like to welcome to our full year results presentation.
Before we begin, and as always I would like to Point out a disclaimer.
But I will quickly move to set out what we will cover in our presentation.
I will take you through the investment proposition and some of the 2025 highlights.
And also our key recent HSCCR initiatives.
Guillermo then will go well before then, before Guillermo, Tomas and Daniel will provide an operational update from their respective regions.
Mario will provide a financial update. Guillermo will talk to us about resources and reserves, and then I will come
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