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Name | Symbol | Market | Type |
---|---|---|---|
Compania De Minas Buenaventura SA | NYSE:BVN | NYSE | Depository Receipt |
Price Change | % Change | Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.04 | 0.32% | 12.42 | 12.48 | 12.28 | 12.48 | 433,973 | 22:00:00 |
Compañia de Minas Buenaventura S.A.A. (“Buenaventura” or “the Company”) (NYSE: BVN; Lima Stock Exchange: BUE.LM), Peru’s largest publicly-traded precious metals mining company, today announced results for the first quarter (1Q23) ended March 31, 2023. All figures have been prepared in accordance with IFRS (International Financial Reporting Standards) on a non-GAAP basis and are stated in U.S. dollars (US$).
First Quarter 2023 Highlights:
Financial Highlights (in millions of US$, except EPS figures):
1Q23
1Q22
Var
Total Revenues
185.5
232.9
-20%
Operating Income
12.6
32.2
-61%
EBITDA Direct Operations(1)
51.6
86.9
-41%
EBITDA Including Affiliates(1)
181.9
233.7
-22%
Net Income from continuing operations
72.2
134.7
-46%
EPS(2)
0.25
2.38
-89%
(1) Don’t include US$ 300 million from the sale of Buenaventura’s stake in Yanacocha;
(2) As of March 31, 2023, Buenaventura had a weighted average number of shares outstanding of 253,986,867.
For a full version of Compañía de Minas Buenaventura First Quarter 2023 Earnings Release, please visit: https://www.buenaventura.com/en/inversionistas/reportes-trimestrales/2023
CONFERENCE CALL INFORMATION:
Compañia de Minas Buenaventura will host a conference call on Friday, April 28, 2023 to discuss these results at 11:00 a.m. Eastern Time / 10:00 a.m. Peru Time
To participate in the conference call, please dial:
Toll Free US: 1-877-270-2148
Toll International: 1-412-902-6510
Passcode: Ask to be joined into the Compañía de Minas Buenaventura’s call.
Webcast: https://event.choruscall.com/mediaframe/webcast.html?webcastid=YJpM602o
If you would prefer to receive a call rather than dialing in, please register via the following link. Please use this option 10-15 minutes prior to conference call start time:
Call Me Link: https://hd.choruscall.com/?callme=true&passcode=&info=company-email&r=true&b=16 Passcode: 1470362
Participants who do not wish to be interrupted to have their information gathered may have Chorus Call dial out to them by clicking on the above link, filling in the information, and pressing the green phone button at the bottom. The phone number provided will be automatically called and connected to the conference without any interruption to the participant. (Please note: Participants will be joined directly to the conference and will hear hold music until the call begins. No confirmation message will be played when joined.)
Company Description
Compañía de Minas Buenaventura S.A.A. is Peru’s largest, publicly traded, precious metals company and a major holder of mining rights in Peru. The Company is engaged in the mining, processing, development and exploration of gold and silver and other metals via wholly owned mines as well as through its participation in joint exploration projects.
Buenaventura currently operates several mines in Peru: Tambomayo*, Orcopampa*, Uchucchacua*, Julcani*, La Zanja*, El Brocal and Coimolache.
The Company owns 19.58% of Sociedad Minera Cerro Verde, an important Peruvian copper producer.
For a printed version of the Company’s 2021 Form 20-F, please contact the investor relations contacts on page 1 of this report or download the PDF format file from the Company’s web site at www.buenaventura.com.
(*) Operations wholly owned by Buenaventura
Note on Forward-Looking Statements
This press release and related conference call contain, in addition to historical information, forward-looking statements including statements related to the Company’s ability to manage its business and liquidity during and after the COVID-19 pandemic, the impact of the COVID-19 pandemic on the Company’s results of operations, including net revenues, earnings and cash flows, the Company’s ability to reduce costs and capital spending in response to the COVID-19 pandemic if needed, the Company’s balance sheet, liquidity and inventory position throughout and following the COVID-19 pandemic, the Company’s prospects for financial performance, growth and achievement of its long-term growth algorithm following the COVID-19 pandemic, future dividends and share repurchases.
This press release may also contain forward-looking information (as defined in the U.S. Private Securities Litigation Reform Act of 1995) that involve risks and uncertainties, including those concerning the Company’s, Cerro Verde’s costs and expenses, results of exploration, the continued improving efficiency of operations, prevailing market prices of gold, silver, copper and other metals mined, the success of joint ventures, estimates of future explorations, development and production, subsidiaries’ plans for capital expenditures, estimates of reserves and Peruvian political, economic, social and legal developments. These forward-looking statements reflect the Company’s view with respect to the Company’s, Cerro Verde’s future financial performance. Actual results could differ materially from those projected in the forward-looking statements as a result of a variety of factors discussed elsewhere in this Press Release.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230427006059/en/
Contacts in Lima: Daniel Dominguez, Chief Financial Officer (511) 419 2540
Gabriel Salas, Head of Investor Relations (511) 419 2591 / gabriel.salas@buenaventura.pe
Contact in NY: Barbara Cano (646) 452-2334 / barbara@inspirgroup.com
Company Website: www.buenaventura.com
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