Canada · Delayed Price · Currency is CAD Fortuna Mining Earnings Call Transcripts
Fiscal Year 2026
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Record Q1 2026 results with $342M sales, $111M adjusted net income, and $219M EBITDA, driven by higher gold prices and strong operations. Production and reserves grew, with robust liquidity and major growth projects advancing in West Africa.
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Focused on returning to 500,000 ounces of annual gold production, the group is advancing Séguéla and Diamba Sud projects, supported by a strong balance sheet and robust free cash flow. Strategic divestments and disciplined capital allocation underpin growth and shareholder returns.
Fiscal Year 2025
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Record net income and free cash flow were achieved in Q4 and full-year 2025, driven by higher gold prices and strong operational performance. Major growth projects at Diamba Sud and Séguéla are advancing, supporting a target of over 500,000 ounces annual gold production within two years.
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Q3 2025 saw record safety, strong financials, and robust cash flow, with net income of $123.6M and liquidity of $588M. Growth projects at Séguéla and Ambasud are advancing, and cost control remains effective despite operational challenges.
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Streamlined portfolio and strong balance sheet position support organic growth at Séguéla and Diamba Sud, with record margins and robust free cash flow. Elevated AISC in Q2 is temporary, with costs expected to decline in H2 2025 and 2026.
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Record free cash flow and net income were achieved, driven by strong gold prices, disciplined cost control, and strategic divestments. Key mines outperformed, with Séguéla and Yaramoko posting double-digit production growth, while Lindero and Caylloma completed major projects and cost reductions.
Fiscal Year 2024
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Record free cash flow and sales were achieved in 2024, with strong gold production and margin expansion driven by higher prices and stable costs. Debt reduction, active share buybacks, and significant investments in exploration and development position the company for continued growth.
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Record Q3 sales and earnings were driven by higher gold prices and strong West African mine performance. Capital projects and exploration are on track, while VAT recovery in Burkina Faso and FX restrictions in Argentina remain key risks.
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Q2 2024 delivered strong production and financial results, with net income up sharply year-over-year, robust cash flow, and major capital projects advancing. Exploration success and a strengthened balance sheet support positive outlook, though power and currency risks persist.