London · Delayed Price · Currency is GBP · Price in GBX Antofagasta Earnings Call Transcripts
Fiscal Year 2026
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Strong H1 2026 results featured a 27% EBITDA increase, record 63% margin, and robust cash flow, enabling a dividend hike. Severe weather at Pelambres led to lower production guidance, but growth projects remain on track and fully funded.
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EBITDA rose 27% and revenue grew 18% year-over-year, driven by higher copper prices and cost discipline. Major growth projects are on track for 2027 completion, expected to boost production by 30%. Interim dividend declared, with strong margins and a resilient balance sheet.
Fiscal Year 2025
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Record 2025 results with 30% revenue growth and 52% EBITDA increase, driven by higher sales, cost control, and strong copper market fundamentals. Major growth projects are fully funded and on track, with a disciplined capital allocation and robust balance sheet supporting future expansion.
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Revenues rose 29% and EBITDA 60% year-over-year, with strong cash flow and a 58.8% EBITDA margin. Major projects are on track, CapEx is weighted to H2, and a $0.166/share interim dividend was declared. Zaldivar's mine life was extended, and water solutions are under review.
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Half-year 2025 results show revenue up 29% and EBITDA up 60% year-over-year, with margins at a three-year high and copper production up 11%. Growth projects in Chile are on track, costs are down, and a 35% interim dividend was declared.
Fiscal Year 2024
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Strong 2024 results featured 5% revenue and 11% EBITDA growth, a 52% margin, and a 50% dividend payout. Major growth projects at Centinela and Los Pelambres are on track, with robust financing and a positive copper market outlook.
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Revenue, EBITDA, and cash flow all grew year-over-year, with production guidance maintained at the lower end and strong progress on major expansion projects. Cost savings and operational improvements are on track, while water and financing strategies support growth.