Industrias Penoles Sab De Cv · BMV:PE_OLES
Industrias Penoles Sab De Cv — 4Q 2023 Earnings Presentation
18 slides from Industrias Penoles Sab De Cv's earnings presentation, December 2023
Slide 1: Corporate Presentation as of December 2023
CORPORATE PRESENTATION AS OF DECEMBER 2023 OVERCOMING CHALLENGES TO ACHIEVE OUR VISION 1
Slide 2: Operating Highlights of 4Q'23
OPERATING HIGHLIGHTS OF 4Q’23 MINING METALS CHEMICALS Juanicipio’s beneficiation plant worked at Gold production decreased mainly due to lower The production of sodium sulfate decreased its nominal capacity through the quarter. This production at Noche Buena and Herradura. due to lower demand from t
Slide 3: Key Financial Metrics
KEY FINANCIAL METRICS SALES EBITDA REVENUE BY PRODUCT AND MARKET3 US$ 5,929.0 mm US$ 768.2 mm YTD 2023 FY2023 FY 2023 US$5,929 mm Cash Flow from Operations DEBT RATIOS US$ 475.9 mm ̴ 2.2 x Net Leverage Ratio 1 FY 2023 ̴ 4.1 x Coverage Ratio 2 FY 2022 US$5,523 mm EPS P/BV Notes: 1/Net Leverage Ratio
Slide 4: Economic Environment and Metals Prices
ECONOMIC ENVIRONMENT AND METALS PRICES GOLD London SILVER Comex USD/oz USD/oz Average prices of most metals increased in 4Q23 versus 4Q22: Gold (+12.4%) and silver (+9.3%) stood out, followed by copper (+2.0%) and lead (+1.2%). However, zinc experienced a marked decrease in its price (-16.7%). Price
Slide 5: Operating Results
OPERATING RESULTS 5
Slide 6: Contribution by Mine to Metal Production (2023)
CONTRIBUTION BY MINE TO METAL PRODUCTION (2023)1 GOLD SILVER 675,844 Oz 72.398 kOz LEAD ZINC COPPER* 85,428 Ton 282,093 Ton 22,926 Ton 6 Notes: 1/ Includes 100% of Fresnillo plc payable production, */Copper cathodes
Slide 7: Historical Mine Production
HISTORICAL MINE PRODUCTION GOLD SILVER LEAD ZINC COPPER Notes: 7
Slide 8: Historical Refined Production
HISTORICAL REFINED PRODUCTION GOLD SILVER Contribution to refined production from: LEAD ZINC Notes: 8
Slide 9: Historical Chemicals Production
HISTORICAL CHEMICALS PRODUCTION (ton) SODIUM SULFATE MAGNESIUM OXIDE AMMONIUM SULFATE1 MAGNESIUM SULFATE Notes: 1/Maquila not included. 9
Slide 10: Financial Results
FINANCIAL RESULTS 10
Slide 11: Financial Highlights – Income Statement
FINANCIAL HIGHLIGHTS – INCOME STATEMENT INCOME STATEMENT HIGHLIGHTS 4Q’2023 Net Sales grew thanks to higher volumes sold of concentrates, refined silver and copper, as well as better gold and silver prices, whose benefits were offset by lower volumes of gold, zinc, lead and chemical products, lower
Slide 12: Financial Highlights – Cost of Production
FINANCIAL HIGHLIGHTS – COST OF PRODUCTION COST OF PRODUCTION BREAKDOWN US$ 831.0 mm US$ 861.0 mm Lower Production Cost in 4Q’23 is derived from: i. lower electricity consumption and prices ii. lower volume of ore deposited and processed at Herradura iii. closure process at Noche Buena Which offset:
Slide 13: Financial Highlights – Quarterly Net Income Analysis
FINANCIAL HIGHLIGHTS – QUARTERLY NET INCOME ANALYSIS It reflects the extraordinary income derived from the cancellation of accumulated accounting reserves on the cost of energy transmission and the recovery of investments in retirement funds. The Inventory Movement Charge of this quarter contrasts w
Slide 14: Financial Highlights – YTD Net Income Analysis
FINANCIAL HIGHLIGHTS – YTD NET INCOME ANALYSIS Notes:.1/ Includes variation for other products and services. 2/ Includes variation in hedging results . 3/ Other expenses include impairment losses. 4/ Financial expenses include Exchange result . 5/ Net of Revenue from Treatment Charges, Income on inv
Slide 15: Sales Volume Trend
SALES VOLUME TREND GOLD (Oz) SALES VOLUME Units 4Q'23 4Q'22 %Chng 2023 2022 %Chng SILVER (koz) Gold Oz 224,864 260,130 -13.6 962,916 1,015,885 -5.2 Silver Koz 21,148 19,011 11.2 76,466 71,876 6.4 Lead Ton 27,783 33,321 -16.6 115,684 119,913 -3.5 Zinc Ton 55,713 60,784 -8.3 229,235 230,853 -0.7 LEAD
Slide 16: Financial Highlights – Balance Sheet
FINANCIAL HIGHLIGHTS – BALANCE SHEET BALANCE SHEET As of: Dec'23 Dec'22 % Chg. BALANCE SHEET As of: Dec'23 Dec'22 % Chg. Current assets 3,627.1 4,143.7 -12.5 Current liabilities 1,129.1 1,416.4 -20.3 Inventories 1,798.5 1,880.6 -4.4 Interest-bearing loans 235.5 376.8 -37.5 Trade and other payables 4
Slide 17: Financial Highlights – Cash Flow
FINANCIAL HIGHLIGHTS – CASH FLOW CASH FLOW As of: 2023 2022 % Chg. CASH FLOW As of: 2023 2022 % Chg. Profit for the year 286.5 325.6 -12 Adjustments to reconcile profit for the period to net cash inflows from operating activities: Cash generated from operations 553.5 565.6 -2 Depreciation and amorti
Slide 18: 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