Mineros S.A. (MSA) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, everyone. Thank you for joining us today. I am Ann Wilkinson, Vice President of Investor Relations, and I'm joined today by Daniel Annal, President and CEO of Moneris, and Natalia Correa, Chief Financial Officer. Before we begin, I would like to remind everyone that today's presentation includes forward-looking statements based on estimates and assumptions. These statements involve inherent risk, and uncertainties as detailed in our cautionary note, and we encourage all participants to review our management discussion and analysis and our Q1 2026 financial statements, which are available on our website and on CDAR+. Following our formal remarks, we will open the floor for questions. You may submit questions at any time through the webcast portal. Please be advised that this call is being recorded and a replay will be available on our website within 24 hours. I would now like to turn the call over to our CEO, Daniel Henao. Thank you, Anne. Good morning, everyone, and thank you for joining us today to review our first quarter 2026 results. Q1 was, in short, an outstanding quarter for Mineros. The numbers speak for themselves on multiple fronts simultaneously. From a financial standpoint, this was a record quarter across the board. We delivered revenues of $292 million, up 82% year-over-year, and a record net profit of $88 million, which is a 131% improvement over Q1 2025. These are not incremental gains. These are step-change results. Our adjusted EBITDA reached $154 million at 116%, with an EBITDA margin of 53%. That means that for every dollar of revenue we generated, more than half was pure operational earnings. This is the power of our operating model at work when gold prices align with disciplined production. Of course, a key driver behind all of the...