Canada · Delayed Price · Currency is CAD Santacruz Silver Mining Earnings Call Transcripts
Fiscal Year 2026
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The company is positioned for significant growth, with expanding operations in Bolivia and Mexico and a strong financial base. Production is set to rise with new projects coming online, targeting 19 million ounces of silver equivalent by 2028.
Fiscal Year 2025
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2025 saw strong revenue, profit, and EBITDA growth, with operational resilience despite challenges at Bolivar. Q4 was robust operationally, though net income was impacted by non-cash items and logistics delays. 2026 will focus on production quality, cost discipline, and strategic growth.
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Q3 delivered higher revenues and a 30% jump in Adjusted EBITDA, but net income fell 7% due to tax impacts. Operational setbacks at Bolívar are being addressed, with full recovery expected by Q4 2026. Strong cash flow supports growth, Soracaya development, and potential share buybacks.
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Q2 saw revenue above $70M, EBITDA of $27M, and net profit of $20M, with net income up 1,300% year-over-year due to a one-time tax adjustment. Production disruptions at Bolívar are being remediated, while cost improvements at Caballo Blanco are structural. Strong liquidity supports organic growth and future expansion.
Fiscal Year 2024
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Q3 saw strong production and revenue growth, driven by operational efficiencies and strategic restructuring. The balance sheet was strengthened by the Glencore deal, with improved liquidity and reduced debt. Production and margins are expected to improve further in 2024.
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Operating four mines and a trading company in Bolivia and Mexico, the group has restructured its Glencore acquisition, improved liquidity, and maintains strong cash flow with no bank debt. Operational efficiencies and new projects support future growth.