Compañia de Minas Buenaventura S.A.A. (“Buenaventura” or
“the Company”) (NYSE: BVN; Lima Stock Exchange: BUE.LM), Peru’s
largest publicly-traded precious metals mining company, today
announced results for the first quarter (1Q23) ended March 31,
2023. All figures have been prepared in accordance with IFRS
(International Financial Reporting Standards) on a non-GAAP basis
and are stated in U.S. dollars (US$).
First Quarter 2023 Highlights:
- 1Q23 EBITDA from direct operations was US$ 51.6 million,
compared to US$ 86.9 million reported in 1Q22, EBITDA results do
not include US$ 300 million from the sale of Buenaventura’s stake
in Yanacocha.
- 1Q23 EBITDA including associated companies reached US$ 181.9
million, compared to US$ 233.7 million in 1Q22, EBITDA results do
not include US$ 300 million from the sale of Buenaventura’s stake
in Yanacocha.
- 1Q23 net income from continuing operations reached US$ 72.2
million, compared to a US$ 134.7 million net income from continuing
operations for the same period in 2022.
- El Brocal ore mined from its open pit was stockpiled during the
1Q23 and was not treated during the quarter. Underground mine
production increased to 9,350 tpd during 1Q23, compared to 7,100
tpd in 1Q22, as part of the ramp-up to reach 10,000 tpd during
2023. This stockpiled lead and zinc ore will be treated at El
Brocal’s processing plant in 2Q23.
- Buenaventura’s cash position reached US$ 173.5 million as of
March 31, 2023. Net Debt increased to US$ 556.8 million with an
average maturity of 3.1 years.
- 1Q23 capital expenditures were US$ 36.2 million, compared to
US$ 19.9 million for the same period in 2022. 1Q23 CAPEX includes
US$ 9.7 million related to the San Gabriel Project and US$ 8.8
million related to the Yumpag Project.
- On March 24, 2023, Cerro Verde announced a total dividend
distribution of US$ 250 million. Buenaventura will receive US$ 49.0
million relative to its stake in Cerro Verde on April 28,
2023.
- During 1Q23, operations at Julcani were suspended for 10 days
in February 2023 related to anti-government protests which
adversely impacted production and mine development. Operations were
fully reestablished on February 16, 2023 and Buenaventura plans to
recover production in subsequent quarters and expects to meet 2023
production guidance.
Financial Highlights (in millions of US$, except EPS
figures):
1Q23
1Q22
Var
Total Revenues
185.5
232.9
-20%
Operating Income
12.6
32.2
-61%
EBITDA Direct
Operations(1)
51.6
86.9
-41%
EBITDA Including
Affiliates(1)
181.9
233.7
-22%
Net Income from continuing
operations
72.2
134.7
-46%
EPS(2)
0.25
2.38
-89%
(1) Don’t include US$ 300 million
from the sale of Buenaventura’s stake in Yanacocha;
(2) As of March 31, 2023,
Buenaventura had a weighted average number of shares outstanding of
253,986,867.
For a full version of Compañía de Minas Buenaventura First
Quarter 2023 Earnings Release, please visit:
https://www.buenaventura.com/en/inversionistas/reportes-trimestrales/2023
CONFERENCE CALL
INFORMATION:
Compañia de Minas Buenaventura will host a conference call on
Friday, April 28, 2023 to discuss these results at 11:00 a.m.
Eastern Time / 10:00 a.m. Peru Time
To participate in the conference call, please dial:
Toll Free US: 1-877-270-2148
Toll International: 1-412-902-6510
Passcode: Ask to be joined into the
Compañía de Minas Buenaventura’s call.
Webcast:
https://event.choruscall.com/mediaframe/webcast.html?webcastid=YJpM602o
If you would prefer to receive a call rather than dialing in,
please register via the following link. Please use this option
10-15 minutes prior to conference call start time:
Call Me Link:
https://hd.choruscall.com/?callme=true&passcode=&info=company-email&r=true&b=16
Passcode: 1470362
Participants who do not wish to be interrupted to have their
information gathered may have Chorus Call dial out to them by
clicking on the above link, filling in the information, and
pressing the green phone button at the bottom. The phone number
provided will be automatically called and connected to the
conference without any interruption to the participant. (Please
note: Participants will be joined directly to the conference and
will hear hold music until the call begins. No confirmation message
will be played when joined.)
Company Description
Compañía de Minas Buenaventura S.A.A. is Peru’s largest,
publicly traded, precious metals company and a major holder of
mining rights in Peru. The Company is engaged in the mining,
processing, development and exploration of gold and silver and
other metals via wholly owned mines as well as through its
participation in joint exploration projects.
Buenaventura currently operates several mines in Peru:
Tambomayo*, Orcopampa*, Uchucchacua*, Julcani*, La Zanja*, El
Brocal and Coimolache.
The Company owns 19.58% of Sociedad Minera Cerro Verde, an
important Peruvian copper producer.
For a printed version of the Company’s 2021 Form 20-F, please
contact the investor relations contacts on page 1 of this report or
download the PDF format file from the Company’s web site at
www.buenaventura.com.
(*) Operations wholly owned by Buenaventura
Note on Forward-Looking Statements
This press release and related conference call contain, in
addition to historical information, forward-looking statements
including statements related to the Company’s ability to manage its
business and liquidity during and after the COVID-19 pandemic, the
impact of the COVID-19 pandemic on the Company’s results of
operations, including net revenues, earnings and cash flows, the
Company’s ability to reduce costs and capital spending in response
to the COVID-19 pandemic if needed, the Company’s balance sheet,
liquidity and inventory position throughout and following the
COVID-19 pandemic, the Company’s prospects for financial
performance, growth and achievement of its long-term growth
algorithm following the COVID-19 pandemic, future dividends and
share repurchases.
This press release may also contain forward-looking information
(as defined in the U.S. Private Securities Litigation Reform Act of
1995) that involve risks and uncertainties, including those
concerning the Company’s, Cerro Verde’s costs and expenses, results
of exploration, the continued improving efficiency of operations,
prevailing market prices of gold, silver, copper and other metals
mined, the success of joint ventures, estimates of future
explorations, development and production, subsidiaries’ plans for
capital expenditures, estimates of reserves and Peruvian political,
economic, social and legal developments. These forward-looking
statements reflect the Company’s view with respect to the
Company’s, Cerro Verde’s future financial performance. Actual
results could differ materially from those projected in the
forward-looking statements as a result of a variety of factors
discussed elsewhere in this Press Release.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230427006059/en/
Contacts in Lima: Daniel Dominguez, Chief Financial
Officer (511) 419 2540
Gabriel Salas, Head of Investor Relations (511) 419 2591 /
gabriel.salas@buenaventura.pe
Contact in NY: Barbara Cano (646) 452-2334 /
barbara@inspirgroup.com
Company Website: www.buenaventura.com
Compania De Minas Buenav... (NYSE:BVN)
過去 株価チャート
から 11 2024 まで 12 2024
Compania De Minas Buenav... (NYSE:BVN)
過去 株価チャート
から 12 2023 まで 12 2024
