Industrias Penoles Sab De Cv · BMV:PE_OLES
Industrias Penoles Sab De Cv — Q3 2023 Earnings Presentation
18 slides from Industrias Penoles Sab De Cv's earnings presentation, September 2023
Slide 1: Corporate Presentation as of September 2023
CORPORATE PRESENTATION AS OF SEPTEMBER 2023 OVERCOMING CHALLENGES TO ACHIEVE OUR VISION 1
Slide 2: Operating Highlights of 3Q'23
OPERATING HIGHLIGHTS OF 3Q’23 MINING METALS CHEMICALS Juanicipio’s beneficiation plant Gold production decreased mainly due to lower The production of sodium sulfate decreased successfully completed its safe ramp-up, and production at Noche Buena and Herradura. due to lower demand from the detergent
Slide 3: Key Financial Metrics
KEY FINANCIAL METRICS SALES EBITDA REVENUE BY PRODUCT AND MARKET3 US$ 4,457.7 mm US$ 563.4 mm YTD 2023 YTD 2023 YTD 2023 US$4,458 mm US$ 5,832.4 mm US$764.8 mm LTM LTM Cash Flow from Operations US$ 231.4 mm YTD 2023 US$ 292.5 mm LTM EPS P/BV FY 2022 US$5,523 mm Notes: 1/Net Leverage Ratio is defined
Slide 4: Economic Environment and Metals Prices
ECONOMIC ENVIRONMENT AND METALS PRICES GOLD London SILVER Comex USD/oz USD/oz Average prices of most metals increased in 3Q23 versus 3Q22: Silver (+23.4%) and gold (+11.5%) stood out, followed by lead (+9.8%) and copper (+7.9%). However, zinc experienced a marked decrease in its price (-25.8%). Whil
Slide 5: Operating Results
OPERATING RESULTS 5
Slide 6: Contribution by Mine to Metal Production (as of 3Q2023)
CONTRIBUTION BY MINE TO METAL PRODUCTION (AS OF 3Q2023)1 GOLD SILVER 505,977 Oz 54,007 kOz LEAD ZINC COPPER* 62,133 Ton 205,414 Ton 16,677 Ton 6 Notes: 1/ Includes 100% of Fresnillo plc payable production, */Copper cathodes
Slide 7: Historical Mine Production
HISTORICAL MINE PRODUCTION GOLD SILVER LEAD ZINC COPPER Notes: 7
Slide 8: Historical Refined Production
HISTORICAL REFINED PRODUCTION GOLD SILVER Contribution to refined production from: LEAD ZINC Notes: 8
Slide 9: Historical Chemicals Production (ton)
HISTORICAL CHEMICALS PRODUCTION (ton) SODIUM SULFATE MAGNESIUM OXIDE AMMONIUM SULFATE1 MAGNESIUM SULFATE Notes: 1/Maquila not included. 9
Slide 10: Financial Results
FINANCIAL RESULTS 10
Slide 11: Financial Highlights – Income Statement
FINANCIAL HIGHLIGHTS – INCOME STATEMENT INCOME STATEMENT 3Q'23 3Q'22 % Chg. 2023 YTD 2022 YTD % Chg. INCOME STATEMENT HIGHLIGHTS 3Q’2023 + Gross sales 1,505.9 1,265.9 4,454.7 4,155.3 19.0 7.2 Net Sales growth from higher metals prices (except for zinc) and higher volumes + Hedging results 1.8 6.5 -7
Slide 12: Financial Highlights – Cost of Production
FINANCIAL HIGHLIGHTS – COST OF PRODUCTION COST OF PRODUCTION BREAKDOWN US$ 888.6 mm US$ 779.0 mm Higher Production Cost in 3Q’23 is derived from: i. the substantial appreciation of the peso against the dollar ii. the ramp-up of the Juanicipio beneficiation plan and the restart of operations at Milpi
Slide 13: Financial Highlights – Quarterly Net Income Analysis
FINANCIAL HIGHLIGHTS – QUARTERLY NET INCOME ANALYSIS Lower result for the period and adjustment in Attributable to: deferred taxes due to the revaluation of the peso i. Substantial appreciation of the peso against the dollar versus the US dollar and inflation in Mexico, ii. Start-up of the Juanicipi
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/ Financial expenses include Exchange result. 4/ Net of Revenue from Treatment Charges, Income on inventories and other items. 14
Slide 15: Sales Volume Trend
SALES VOLUME TREND GOLD (Oz) SALES VOLUME Units 3Q'23 3Q'22 %Chng YTD 2023 YTD 2022 %Chng SILVER (koz) Gold Oz 222,785 244,436 -8.9 738,052 755,755 -2.3 Silver Koz 19,273 16,790 14.8 55,318 52,865 4.6 Lead Ton 29,835 27,076 10.2 87,902 86,592 1.5 Zinc Ton 53,963 49,209 9.7 173,522 170,069 2.0 LEAD (
Slide 16: Financial Highlights – Balance Sheet
FINANCIAL HIGHLIGHTS – BALANCE SHEET BALANCE SHEET As of: Sep'23 Dec'22 % Chg. BALANCE SHEET As of: Sep'23 Dec'22 % Chg. Current liabilities 1,601.3 1,416.4 13.1 Current assets 4,156.3 4,143.7 0.3 Interest-bearing loans 250.3 376.8 -33.6 Inventories 1,814.9 1,880.6 -3.5 Other liabilities 803.2 269.8
Slide 17: 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 113.7 195.3 -42 Depreciation and amortisation 507.7 504.9 1 Cash generated fr
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
Industrias Peñoles, S.A.B. de C.V. — Q3 2023 Earnings Presentation on 6ix