LONDON (dpa-AFX) - Hochschild Mining plc (HOC.L), on Wednesday, reported FY24 profit from continuing operations, pre-exceptional, of $133.5 million or $0.23 per basic share compared to $9.51 million or $0.02 per share last year.
Profit from continuing operations, post-exceptional, was $113.7 million or $0.19 per share versus a loss of $60.0 million or $0.10 per share in 2023.
Revenue for the year 2024 amounted to $947.7 million, up 37% from the previous year's $693.7 million.
Total Group production was 11% higher than 2023 and this was boosted by a 19% rise in the gold price received and a 22% rise in the silver price.
Eduardo Landin, Chief Executive Officer of Hochschild, said, 'We are pleased to announce our best financial performance for 13 years, a testament to our exceptional team and high-quality assets. Our growth strategy continues to deliver, with the addition of a record 2.8 million gold-equivalent ounces of mineable resources, extending the life of all our current operations and two major growth projects are now being developed that could boost annual production by over 200,000 ounces. In line with our commitment to shareholder value, we are restoring our dividend and introducing a clear dividend policy, underscoring our focus on sustainable returns. Our team remains dedicated to maximising value, optimising costs, and ensuring long-term growth.'
Looking ahead, the company expects attributable production in 2025 of between 350,000 and 378,000 gold equivalent ounces. This will be driven by: 199,000-209,000 gold equivalent ounces from Inmaculada; an attributable contribution of 57,000 to 65,000 gold equivalent ounces from San Jose; and first full year of production from the Mara Rosa mine of between 94,000 and 104,000 gold ounces.
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