Compania de Minas Buenaventura SAA ( (BVN) ) has released its Q1 earnings. Here is a breakdown of the information Compania de Minas Buenaventura SAA presented to its investors.
Compañia de Minas Buenaventura S.A.A. is Peru’s largest publicly traded precious metals mining company, primarily engaged in the exploration, mining development, processing, and trade of gold, silver, and other base metals. The company operates several mines in Peru and holds significant mining rights in the region.
In the first quarter of 2025, Buenaventura reported significant financial growth with a net income of $147 million, a substantial increase from $67.1 million in the same period last year. The company’s EBITDA from direct operations rose to $126.3 million, reflecting a 34% increase, while total revenues saw a 25% rise to $307.7 million, driven by higher metal prices and increased silver production.
Key financial metrics highlighted include a 128% increase in net income attributable to owners, reaching $140.1 million, and a 35% increase in EBITDA including affiliates. The company’s cash position was strong at $648 million, with a leverage ratio of 0.46x. Production-wise, silver output increased by 0.6 million ounces year-on-year, while gold, zinc, and lead production saw declines.
Strategically, Buenaventura continued to invest in the San Gabriel project, with 79% of the project completed by the end of the quarter. The company also updated its consolidated reserves, reporting increases in gold, silver, and copper reserves. Additionally, Buenaventura received $49 million in dividends from its stake in Cerro Verde.
Looking ahead, Buenaventura remains focused on enhancing operational efficiencies and progressing with its key projects, including the San Gabriel project, which is expected to commence production by the end of 2025. The company maintains a positive outlook, supported by its robust financial position and strategic investments.