Metro Mining Limited (MMI) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome, everybody, and thank you for joining us today. I have the CEO, Simon Winsley, and the CFO, Mr. Nathan Quinlan, to talk us through the 2025 financial results. And I see the market looks pretty happy about those today already. So I'm going to hand it over to Simon, and we'll have a Q&A session at the end. Thank you, Simon. Great. Thanks, Peter. Good afternoon, everyone. Thanks for joining. Really appreciate your support. Yeah, look at the really solid set of results for 2025, you know, we really were looking to make a step forward from our implementation of our expansion through 2024. We did that with a 9% increase in production, and I guess that underpinned a lot of what happened from a physical point of view. I might just pull up and share the announcement so people can sort of, if you haven't had a chance to look at it, I can sort of cover that off as we go, so hopefully you can see that. Yeah, so as I said, look, the production was an excellent underpinning growth year on year, and that, of course, underpinned significant revenue growth as well. We had a reasonably robust market through 2025, and that – Was really largely we knew that that was coming. It was the market was getting tighter and tighter through 23 and 24. And we we absolutely were getting the expansion funded and implemented in time for what we could see was going to be a firm market. price environment. So we were able to take advantage of that and margins over $30 a ton in that first half of the year. So look, that was very pleasing to be able to get that year-on-year growth. So that's underpinned a record underlying EBITDA of $73 million. That's almost 100% improvement from the prior year. And the net profit obviously is underpinned by a couple of other items. But before I hand over to Nath...