Q4 2024 Compania de Minas Buenaventura SAA Earnings Call Transcript

Feb 21, 2025 / 03:00PM GMT

Release Date Price: $12.6 (-4.04%)

Transcript

Key Points

Positve

Compania De Minas Buenaventura SAA (BVN) reported a significant increase in full-year EBITDA for 2024, reaching $431 million compared to $199 million in 2023.
The company's net income for 2024 was $402.7 million, a substantial rise from $19.9 million in 2023.
Silver production increased by 69% in 2024, reaching 15.5 million ounces compared to 9.2 million ounces in 2023.
The company successfully issued senior unsecured notes for $650 million, maturing in 2032, to refinance existing debt and support corporate purposes.
Compania De Minas Buenaventura SAA (BVN) resumed its dividend payment policy, proposing a dividend of USD0.2922 per share, reflecting a commitment to shareholder returns.

Negative

The all-in sustaining cost for the fourth quarter of 2024 increased by 26% compared to the previous year, driven by increased exploration activities.
Copper cash costs increased due to lower by-product credit contributions at El Brocal.
Gold cost applicable to sales rose year-over-year, primarily due to lower grades at Tambomayo and Orcopampa.
The San Gabriel project, while progressing, still faces risks related to timely permit approvals and potential weather-related delays.
The company anticipates a potential reduction in reported reserves for the San Gabriel project due to updated operating costs and feasibility assessments.

Operator

Good day, ladies and gentlemen. Welcome to the Compania de Minas Buenaventura fourth quarter 2024 earnings results conference call. (Operator Instructions) Please note that this call is being recorded. I would now like to introduce your host for today's call, Mr. Sebastian Valencia, Head of Investor Relations. Mr. Valencia, you may begin.

Sebastian Valencia

Compania de Minas Buenaventura SAA - Head of Investor Relations

Good morning, everyone, and thank you for joining us today to discuss our fourth quarter 2024 results. Today's discussion will be led by Mr. Leandro Garcia, Chief Executive Officer. Also joining our call today and available for your questions are Mr. Daniel Dominguez, Chief Financial Officer; Mr. Juan Carlos Ortiz, Vice President of Operations; Mr. Aldo Massa, Vice President of Business Development and Commercial; Mr. Alejandro Hermoza, Vice President of Sustainability; Mr. Renzo Macher, Vice President of Projects; Mr. Juan Carlos Salazar, Vice President of Geology and Explorations; Mr. Roger Benavides, Chairman; and Mr. Raul Benavides, Director

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