Q3 2025 Compania de Minas Buenaventura SAA Earnings Call Transcript
Key Points
- EBITDA from direct operations in the third quarter of 2025 increased by 48% compared to the same quarter last year.
- San Gabriel project has achieved 96% overall progress, with construction 95% complete, and is on track to begin production in the fourth quarter of 2025.
- The company has a strong cash position of $486 million, enabling it to resume its dividend policy with a payment of USD0.1446 per share.
- Coimolache received a new operating permit, allowing full capacity production, which is expected to increase cash flow in the coming quarters.
- Buenaventura's flagship operations have driven strong cash flow generation and a solid balance sheet, allowing for value return to shareholders.
- Copper production in the third quarter of 2025 decreased by 24% year-on-year due to the processing of ore stockpile in the previous year.
- Silver production was 3% lower compared to the same period last year, mainly due to lower production at Chakan Upa.
- Gold production decreased by 21% year-on-year, primarily due to lower output at Orcon Papa and Tambomayo.
- Net income for the quarter was $167.1 million, down from $236.9 million in the third quarter of 2024, which included a significant gain from the sale of Chapello.
- The third quarter 2025 cash position decreased due to net cash outflows from investing and financing activities, including the redemption of $149 million of its 2026 notes.
Good morning, ladies and gentlemen. Welcome to the Compania de Minas Buenaventura third quarter 2025 earnings results conference call. (Operator Instructions). And please note that this call is being recorded.
I would now like to introduce you to your host for today's call, Mr. Sebastian Valencia, Head of Investor Relations. Mr. Valencia, you may begin.
Good morning, everyone, and thank you for joining us today to discuss our third quarter 2025 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 Ortis, Vice President of Operations; Aldo Massa, Vice President of Business Development and Commercial; Mr. Alejandro Hermosa, Vice President of Sustainability; Mr. Anson Maher, Vice President of Projects, Mr. Juan Carlos Salazar, Vice President of Geology and Explorations; Mr. Roger Aries, Chairman; and Mr. Arenas, Director.
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