Compañia de Minas Buenaventura S.A.A. ("Buenaventura" or "the Company") (NYSE: BVN; Lima Stock Exchange: BUE.LM), Peru's largest publicly-traded precious metals mining company, today announced results for the first quarter 2020. All figures have been prepared in accordance with IFRS (International Financial Reporting Standards) on a non-GAAP basis and are stated in U.S. dollars (US$).
First Quarter 2020 Highlights:
Financial Highlights (in millions of US$, except EPS figures):
1Q20 |
1Q19 |
Var |
|
Total Revenues |
114.5 |
186.1 |
-38% |
Operating Profit |
-59.7 |
-27.0 |
-121% |
EBITDA Direct Operations |
-6.8 |
28.4 |
N.A. |
Adjusted EBITDA (Inc Associates) |
30.6 |
167.6 |
-82% |
Net Income |
-75.0 |
27.3 |
N.A. |
EPS* |
-0.30 |
0.11 |
N.A. |
(*) As of March 31, 2020 Buenaventura had a weighted average number of shares outstanding of 253,986,867.
For a full version of Compañía de Minas Buenaventura First Quarter 2020 Earnings Release, please visit: http://www.buenaventura.com/en/inversionistas
CONFERENCE CALL INFORMATION:
Compañia de Minas Buenaventura will host a conference call on Tuesday, May 19, 2020 to discuss these results at 11:00 a.m. Eastern Time / 10:00 a.m. Peru Time
Please use the following link to pre-register for this conference call. Callers who pre-register will be given a unique PIN to gain immediate access to the call and bypass the live operator. You may pre-register at any time, including up to and after the call start time.
To pre-register please go to: http://dpregister.com/10143128
To participate in the conference call, please dial:
Toll Free US
+1-866-777-2509
Toll International
+1-412-317-5413
Webcast
https://services.choruscall.com/links/bvn200519.html
Company Description
Compañía de Minas Buenaventura S.A.A. is Peru's largest, publicly traded, precious metals company and a major holder of mining rights in Peru. The Company is engaged in the mining, processing, development and exploration of gold and silver and other metals via wholly owned mines as well as through its participation in joint exploration projects.
Buenaventura currently operates several mines in Peru: Orcopampa*, Uchucchacua*, Mallay*, Julcani*, El Brocal, La Zanja and Coimolache, and is developing the Tambomayo project.
The Company owns 43.65% of Minera Yanacocha S.R.L (a partnership with Newmont Mining Corporation), an important precious metal producer; 19.58% of Sociedad Minera Cerro Verde, an important Peruvian copper producer.
For a printed version of the Company's 2019 Form 20-F, please contact the investor relations contacts on page 1 of this report, or download the PDF format file from the Company's web site at www.buenaventura.com.
(*) Operations wholly owned by Buenaventura
Note on Forward-Looking Statements
This press release may contain forward-looking information (as defined in the U.S. Private Securities Litigation Reform Act of 1995) that involve risks and uncertainties, including those concerning the Company's, Yanacocha's and Cerro Verde's costs and expenses, results of exploration, the continued improving efficiency of operations, prevailing market prices of gold, silver, copper and other metals mined, the success of joint ventures, estimates of future explorations, development and production, subsidiaries' plans for capital expenditures, estimates of reserves and Peruvian political, economic, social and legal developments. These forward-looking statements reflect the Company's view with respect to the Company's, Yanacocha's and Cerro Verde's future financial performance. Actual results could differ materially from those projected in the forward-looking statements as a result of a variety of factors discussed elsewhere in this Press Release.
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