SCC(US:SCCO)2026-01-28 22:21Financial Performance - 4Q25 net sales reached $3,869.8 million, a 39.0% increase compared to 4Q24, driven by higher sales volumes for copper (+2.8%), molybdenum (+9.6%), zinc (+20.7%), and silver (+11.3%) [1] - 2025 net sales hit a record high of $13,420.0 million, up $1,986.6 million or 17.4% from 2024, primarily due to increased sales volumes for molybdenum (+7.4%), zinc (+19.3%), and silver (+15.3%) [1] - 4Q25 net income was $1,307.9 million, a 64.7% increase from $793.9 million in 4Q24, with a net income margin of 33.8% [1] - 2025 net income reached $4,334.9 million, 28.4% higher than in 2024, with a net income margin of 32.3% [1] - 4Q25 adjusted EBITDA was $2,310.5 million, reflecting a 53.3% increase from $1,506.7 million in 4Q24, with an adjusted EBITDA margin of 59.7% [1] - 2025 adjusted EBITDA reached $7,822.4 million, a 22.1% increase over 2024, with an adjusted EBITDA margin of 58.3% [1] Production and Sales - 2025 copper production totaled 954,270 tons, consistent with the annual plan, with a 1.4% increase in 4Q25 compared to the previous quarter [2] - Total copper production in Q4 2025 was 244,326 tons, up 2.0% from 239,457 tons in Q4 2024 [36] - Molybdenum sales increased by 9.6% in Q4 2025, totaling 7,678 tons compared to 7,008 tons in Q4 2024 [36] - Zinc sales in Q4 2025 were 50,837 tons, a 20.7% increase from 42,120 tons in Q4 2024 [36] - Total pounds of copper produced in Year 2025 reached 2,035.6 million pounds, a decrease from 2,057.7 million pounds in Year 2024, reflecting a 1.1% decline [53] Cash Flow and Investments - Cash flow from operating activities in 2025 was $4,752.1 million, a 7.5% increase from $4,421.7 million in 2024 [3] - Capital investments for the full year 2025 totaled $1,325.3 million, up from $1,027.3 million in 2024, indicating a 29.0% increase [40] - The company invested $28 million in four projects under the Public Works for Taxes program, benefiting over 5,000 people in Peru [28] Shareholder Returns - Dividends paid increased by 57.1% to $1.10 per share in Q4 2025 from $0.70 per share in Q4 2024 [37] - The company paid dividends of $731.0 million in Q4 2025, compared to $549.9 million in Q4 2024, representing a 32.9% increase [40] Assets and Equity - As of December 31, 2025, total assets increased to $21,381.4 million from $18,713.4 million in 2024, representing a growth of 14.1% [38] - Total stockholders' equity rose to $11,038.1 million in 2025 from $9,171.5 million in 2024, reflecting an increase of 20.4% [38] - The number of shares outstanding increased to 819.1 million in 2025 from 790.4 million in 2024, a growth of 3.6% [38] Costs and Expenses - Cost of sales (exclusive of depreciation, amortization, and depletion) for Q4 2025 was $1,471.5 million, compared to $1,211.8 million in Q4 2024, representing a 21.5% increase [53] - Operating cash cost before by-product revenues for Year 2025 was $4,418.8 million, slightly up from $4,389.5 million in Year 2024, indicating a 0.7% increase [53] - Selling, general and administrative expenses for Year 2025 totaled $137.8 million, compared to $130.5 million in Year 2024, reflecting a 5.6% increase [53] - Workers' participation costs for Year 2025 were $463.1 million, significantly higher than $296.5 million in Year 2024, indicating a 56.2% increase [53] - Purchased concentrates from third parties for Year 2025 amounted to $284.0 million, up from $162.4 million in Year 2024, representing a 74.7% increase [53] - Treatment and refining charges net of sales premiums for Year 2025 were $(153.6) million, compared to $(39.5) million in Year 2024, indicating a significant increase in costs [53] - Inventory change for Year 2025 was $(16.7) million, a decrease from $12.8 million in Year 2024, reflecting a shift in inventory management [53] Project Development - The Tía María project is 24% complete with a capital budget of $1.8 billion, expected to generate $20.2 billion in exports and $4.6 billion in taxes over its first 20 years [6] - The company aims to produce 1.6 million tons of copper by 2033, supported by a disciplined investment strategy and project pipeline [7] Recognition and Awards - The company recognized for its commitment to safety with the "Casco de Plata" award for best performance in occupational safety [27]