Santacruz Silver Mining Ltd. (SCZM) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hi, everyone. Thank you for joining us. Today, we have an update from Santa Cruz Silver, who put up their Q4 financial results last week. With me, I have Arturo Postamo, Executive Chairman and CEO, and Andreas Bedregal, CFO. The format for today's webinar will be a Q&A, and we're going to start off with a question submitted in advance. But you are welcome to submit a question in the question box during the webinar. And we may be making some forward-looking statements. So if you'd like to know more about those, you can find them on the company's website. And with that out of the way, welcome Arturo and Andreas. Thank you, Lenka. Thank you for having us here. It's a pleasure. Yeah, thank you, Lenka. Thank you for having us here. Thank you. Let's start off with the first question. So looking at the big picture, Arturo, could you provide a summary of the Q4 and full year 2025 performance? Absolutely, Olenka. Well, I will describe 2025 as a very strong year for Santa Cruz and in many ways a defining year for the company. Even with the water inflow event at the Bolivar Mine in May, the company really demonstrated the strength of our business platform, the value of its diversified asset and the importance of the San Lucas outsourcing business. Just to give you a few highlights, Olenka, we increased revenues by 15%. We grew our profit more than 90%. We increase our EBITDA almost twice to 99%. And a very important item here is we fully extinguish the Glencore base purchase price obligation, which saves us $40 million in future payments. We end up with a much stronger balance sheet, including $67 million in cash and marketable securities. with a working capital of $64, $65 million. So financially speaking, 2025 was a strong year for the company. Operationally speaking, what I ...