London · Delayed Price · Currency is GBP · Price in GBX Fresnillo Earnings Call Transcripts
Fiscal Year 2025
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Record financial results driven by high gold and silver prices, strong cost control, and operational stability. Major acquisition of Probe Gold expanded resources, while a record $950 million dividend was paid. 2026 is a transition year, with growth expected from brownfield projects and a robust project pipeline.
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The acquisition of Probe Gold for CAD 780 million provides a strategic entry into Canada, adding a large gold resource and significant exploration potential in Quebec. The deal is fully supported by Probe's board and major shareholders, with no expected impact on dividend policy or ongoing Mexican projects.
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Strong financial and operational results driven by higher metal prices, cost control, and robust production, with EBITDA and gross profit both exceeding $1 billion. Guidance for silver adjusted lower due to the Silver Stream buyback, but gold production and cash flow remain strong, supporting dividends and project investment.
Fiscal Year 2024
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Operational stability and cost control drove strong financial results, with gross profit up 147% and operating profit up 563% year-over-year. A special dividend was declared, and the company maintains a robust balance sheet, while production guidance for 2025 remains solid.
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Strong H1 results with EBITDA up 55% and robust cash flow, despite operational challenges at key mines. Production guidance for silver and gold reaffirmed, with brownfield and new projects set to support future growth. Cost control and regulatory risks remain key focus areas.