Business
Final Results
Final Results.
About this update from Hochschild Mining Plc
[{"type":"text","content":"\n\n \n \n \n13 March 2024\n \n \nHochschild Mining PLC\n \nPreliminary Results\nYear ended 31 December 2023\n \nRESULTS FOR YEAR ENDED 31 DECEMBER 2023\n \nEduardo Landin, Chief Executive Officer of Hochschild, commented:\n\"I am pleased to report a robust 2023 performance. We made strong progress at our new Mara Rosa mine in Brazil, which is now in production, on time and on budget. Furthermore, we obtained a crucial permit at Inmaculada in Peru, ensuring an exciting, long-term future for the operation. We remain confident of a strong year ahead as we continue to execute our stated strategy of driving long-term production growth whilst reducing costs.\"\n \n2023 Robust financial performance\n§ Revenue of $693.7 million (2022: $735.6 million)[1]\n§ Adjusted EBITDA of $274.4 million (2022: $249.6 million)[2] \n§ Profit before income tax (pre-exceptional) of $53.5 million (2022: $24.3 million)\n§ Loss before income tax (post-exceptional) of $43.5 million (2022: $25.8 million profit)\n§ Basic earnings per share (pre-exceptional) of $0.02 (2022: $0.01)\n§ Basic loss per share (post-exceptional) of $0.10 (2022: earnings per share of $0.01)\n§ Cash and cash equivalent balance of $89.1 million as at 31 December 2023 (2022: $143.8 million)\n§ Net debt of $257.9 million as at 31 December 2023 (2022: $175.1 million)\n2023 Revised guidance achieved[3] \n§ All-in sustaining costs (AISC) 2 from operations of $1,454 per gold equivalent ounce (2022: $1,448) or $17.5 per silver equivalent ounce (2022: $17.4) lower than revised full year cost guidance of $1,490-$1,580 per gold equivalent ounce ($18.0-$19.0 per silver equivalent ounce)\n§ Full year attributable production of 300,749 gold equivalent ounces (25.0 million silver equivalent ounces)\n2023 Exploration & Project Highlights\n§ Mara Rosa project completed on time and on budget\no First gold pour achieved on 20 February 2024\no 5.5 million hours completed on the project without any loss time accidents\n§ Option recently agreed to acquire the Monte Do Carmo project in neighbouring Tocantins state, Brazil\n2023 ESG KPIs\n§ Lost Time Injury Frequency Rate of 0.99 (2022: 1.37)[4]\n§ Accident Severity Index of 37 (2022: 93)[5]\n§ Water consumption of 163lt/person/day (2022: 171lt/p...