## Hochschild Mining PLC Preliminary Results Summary
**Strong Financial Performance and Strategic Progress:**
* **Record Financials** Hochschild Mining PLC reported record financial performance for 2025, driven by strong execution at Inmaculada and favorable precious metal prices.
* **Revenue Growth** Revenue increased by 25% to $1,182.1 million, with adjusted EBITDA up 39% to $583.7 million.
* **Profitability** Profit before income tax (pre-exceptional) rose 66% to $330.4 million, while profit before income tax (post-exceptional) surged 110% to $372.8 million.
* **Cash Position** Cash and cash equivalents stood at $317.0 million, with net debt significantly reduced to $22.7 million.
* **Dividend Increase** The company recommended a final dividend of 5.00 US cents per share, reflecting its strong balance sheet.
**Operational Highlights**
* **Production** Attributable production reached 311,509 gold equivalent ounces, slightly <mark style="background-color:yellow">below</mark> 2024 due to challenges at Mara Rosa.
* **Inmaculada** This mine delivered strong performance, producing 209,921 gold equivalent ounces.
* **Mara Rosa Turnaround** The turnaround plan at Mara Rosa is progressing well, positioning it for sustainable long-term production.
* **San Jose** Performance at San Jose was in line with expectations, producing 120,639 gold equivalent ounces.
* **Exploration Success** The company added 1.7 million ounces to its resource base, highlighting its commitment to exploration.
**Strategic Progress**
* **Growth Projects** Hochschild advanced its Monte do Carmo project in Brazil and the Royropata silver project in Peru, both of which are key to future growth.
* **Non-Core Asset Monetization** The company successfully listed Tiernan Gold Corp on the TSX Venture Exchange, raising capital for the Volcan gold project while retaining a significant stake.
* **ESG Leadership** Hochschild demonstrated strong ESG performance, achieving improvements in safety, water usage, waste recycling, local workforce engagement, and diversity.
**Outlook**
* **Production Target** The company expects attributable production of 300,000-328,000 gold equivalent ounces in 2026.
* **Cost Control** All-in sustaining costs are forecast to be between $2,157 and $2,320 per gold equivalent ounce.
* **Growth Focus** Hochschild remains focused on completing the Mara Rosa turnaround, advancing its growth projects, and generating strong cash flows in a favorable precious metals market.
**Overall**
Hochschild Mining PLCs 2025 results showcase a company delivering strong financial performance, making strategic progress, and positioning itself for sustainable growth in the precious metals sector. The companys focus on operational efficiency, exploration, and ESG leadership bodes well for its future prospects.
Here is a comparison of Hochschild Mining PLC's financials and debt year on year, presented as an HTML table:
**Key Observations:** - **Revenue and Profitability:** Revenue increased by 25% from 2024 to 2025, driven by higher precious metal prices and operational improvements. Adjusted EBITDA and profit before income tax (pre-exceptional) also showed significant growth, by 39% and 66% respectively.
- **Debt and Liquidity:** Net debt decreased substantially by 90%, from $215.6 million in 2024 to $22.7 million in 2025, indicating a stronger financial position. Cash and cash equivalents more than tripled, reflecting improved cash generation.
- **Production and Costs:** Attributable gold and silver production decreased slightly, by 10% and 12% respectively, likely due to operational challenges at certain mines. However, attributable all-in sustaining costs (AISC) per gold equivalent ounce increased significantly by 37%, which may be attributed to higher costs at specific operations and the impact of higher precious metal prices on royalties and other cost components. This table provides a concise overview of Hochschild Mining PLC's financial and operational performance, highlighting key areas of improvement and potential challenges.