Industrias Penoles Sab De Cv · BMV:PE_OLES
Industrias Penoles Sab De Cv — Q1 2023 Earnings Presentation
19 slides from Industrias Penoles Sab De Cv's earnings presentation, March 2023
Slide 1: Corporate Presentation as of March 2023
CORPORATE PRESENTATION AS OF MARCH 2023 OVERCOMING CHALLENGES TO ACHIEVE OUR VISION 1
Slide 2: Operating Highlights of 1Q'23
OPERATING HIGHLIGHTS OF 1Q’23 MINING BUSINESS METALS BUSINESS CHEMICALS BUSINESS The start-up of the Juanicipio silver-gold In the lead-silver circuit, the Smelter faced Magnesium sulfate volume increase is mining unit was completed on schedule during unscheduled shutdowns and low melting speed attr
Slide 3: Key Financial Metrics
KEY FINANCIAL METRICS SALES EBITDA REVENUE BY PRODUCT AND MARKET3 US$ 1,413.0 mm US$ 251.3 mm YTD 2023 1Q’23 1Q’23 US$1,413 mm US$ 5,529.9 mm US$ 919.7 mm LTM LTM Cash Flow from Operations DEBT RATIOS -US$ 42.8 mm ̴ 1.77 x Net Leverage Ratio 1 1Q’23 US$ 572.8 mm ̴ 5.01 x Coverage Ratio 2 LTM FY 2022
Slide 4: Economic Environment and Metals Prices
ECONOMIC ENVIRONMENT AND METALS PRICES GOLD London SILVER Comex USD/oz USD/oz In the first quarter of 2023, average metal prices were lower than those recorded during the same period of the previous year, except for gold, which maintained its value. Even though in the first months of the year metals
Slide 5: Operative Results
OPERATIVE RESULTS 5
Slide 6: Contribution by Mine to 2023 Metal Production
CONTRIBUTION BY MINE TO 2023 METAL PRODUCTION1 GOLD SILVER 187,091 Oz 16,075 kOz LEAD ZINC COPPER* 19,041 Ton 65,275 Ton 5,259 Ton 6 Notes: 1/ Includes 100% of Fresnillo plc payable production, */Copper cathodes
Slide 7: Historical Mine Production
HISTORICAL MINE PRODUCTION GOLD SILVER LEAD ZINC COPPER Notes: 7
Slide 8: Historical Refined Production
HISTORICAL REFINED PRODUCTION GOLD SILVER Contribution to refined production from: LEAD ZINC Notes: 8
Slide 9: Peñoles' Cash Costs Trends
PEÑOLES’ CASH COSTS TRENDS Tizapa Sabinas 1 2 Velardeña Capela Notes: 1/ Cash cost = [Cost of goods sold (production cost minus depreciation +- change in inventories) + sales expense (treatment fees, shipping and write-downs, extraordinary ore rights)]/pounds of zinc equivalent. 2/ All-in = CC1 + co
Slide 10: Fresnillo's Cash Costs Trends
FRESNILLO’S CASH COSTS TRENDS Fresnillo Saucito San Julián (Veins) San Julián (DOB1) 2 AISC3 2 Ciénega Herradura Noche Buena Notes: 1/Disseminated Ore Body. 2/Cash cost = {total cash cost (cost of sales plus treatment and refining charges, less depreciation) - revenue from by-products }/ silver or g
Slide 11: Historical Chemicals Production
HISTORICAL CHEMICALS PRODUCTION SODIUM SULFATE MAGNESIUM OXIDE AMMONIUM SULFATE1 MAGNESIUM SULFATE Notes: 1/Maquila not included. 11
Slide 12: Financial Results
FINANCIAL RESULTS 12
Slide 13: Financial Highlights – Income Statement
FINANCIAL HIGHLIGHTS – INCOME STATEMENT INCOME STATEMENT 1Q'23 1Q'22 % Chg. + Gross sales 1,413.1 1,414.1 -0.1 INCOME STATEMENT HIGHLIGHTS 1Q’2023 + Hedging results 0.0 -7.6 99.7 Sales revenues were similar to those recorded during 1Q22, as the negative effect Net Sales 1,413.0 1,406.5 of lower pric
Slide 14: Financial Highlights – Cost of Production
FINANCIAL HIGHLIGHTS – COST OF PRODUCTION COST OF PRODUCTION BREAKDOWN US$ 828.6 mm US$ 678.1 mm Higher Production Cost in 1Q’23 is derived from: i. the lower average exchange rate of the peso against the dollar ii. the start-up of Juanicipio and the restart of operations at Milpillas iii. the infla
Slide 15: Financial Highlights – Quarterly Net Income Analysis
FINANCIAL HIGHLIGHTS – QUARTERLY NET INCOME ANALYSIS Attributable to: i. Lower average exchange rate of the peso against the dollar ii. Start-up of Juanicipio and the restart of operations at Lower taxable income in the period and a Milpillas favorable adjustment in deferred taxes, mainly iii. Infla
Slide 16: Financial Highlights – Sale Volumes
FINANCIAL HIGHLIGHTS GOLD (Oz) SALE VOLUMES Units 1Q'23 1Q'22 %Chng SILVER (koz) Gold Oz 255,024 250,279 1.9 Silver Koz 17,210 17,091 0.7 Lead Ton 28,141 32,608 -13.7 Zinc Ton 59,781 63,347 -5.6 LEAD (Ton) Copper Ton 3,815 604 531.4 Copper matte Ton 1,682 2,009 -16.3 Concentrates Ton 48,659 35,162 3
Slide 17: Financial Highlights – Balance Sheet
FINANCIAL HIGHLIGHTS – BALANCE SHEET BALANCE SHEET As of: Mar'23 Dec'22 % Chg. BALANCE SHEET As of: Mar'23 Dec'22 % Chg. Current assets 4,441.8 4,143.7 7.2 Current liabilities 1,689.6 1,416.4 19.3 Inventories 1,909.1 1,880.6 1.5 Interest-bearing loans 556.3 376.8 47.6 Other liabilities 521.4 269.8 9
Slide 18: Financial Highlights – Cash Flow
FINANCIAL HIGHLIGHTS – CASH FLOW CASH FLOW As of: YTD'23 YTD'22 % Chg. CASH FLOW As of: YTD'23 YTD'22 % Chg. Adjustments to reconcile profit for the period to net cash inflows from operating activities: Profit for the year 19.0 110.3 -83 Depreciation and amortisation 169.2 162.8 4 Cash generated fro
Slide 19: Contact
CONTACT Mauricio García, CFO. Mauricio_Garcia@penoles.com.mx Investor Relations Investor_Relations@penoles.com.mx www.penoles.com.mx Disclaimer This presentation contains certain calculations and forward-looking information regarding to Industrias Peñoles, S.A.B. de C.V. (Peñoles) and its subsidiari