Grupo Mexico S.A. ( (GMBXF) ) has released its Q4 earnings. Here is a breakdown of the information Grupo Mexico S.A. presented to its investors.
Grupo Mexico S.A.B. de C.V. is a leading company in the mining, transportation, and infrastructure sectors, known for being one of the largest copper producers globally and holding significant copper reserves. The company reported strong financial results for 2024, driven by its Mining Division, which achieved record revenues due to increased copper production and favorable market conditions. The company’s consolidated revenues rose by 12.6% to $16.17 billion, with the Mining Division contributing $12.40 billion, a 14.1% increase from the previous year. The Infrastructure Division also saw a 10.3% increase in revenues, while the Transportation Division experienced a modest growth of 4.8% in revenues.
Key financial highlights for 2024 include a consolidated EBITDA of $8.37 billion, marking an 18.7% increase from 2023. The Mining Division’s EBITDA rose by 26.0%, while the Infrastructure Division’s EBITDA increased by 21.0%. The company maintained its position as the lowest cash-cost copper producer globally, with a net operating cash cost of $1.14 per pound of copper, a 9.6% reduction from the previous year. Additionally, Grupo Mexico declared a cash dividend of MXN$1.10 per share and issued $1 billion in 7-year notes to enhance liquidity for future investments.
The company continues to focus on sustainability and social responsibility, achieving high sustainability ratings and certifications for workplace quality and environmental responsibility. Grupo Mexico is also advancing several key projects in Mexico and Peru, including the El Pilar and El Arco projects in Mexico and the Tía María and Los Chancas projects in Peru, which are expected to contribute significantly to future growth.
Looking ahead, Grupo Mexico remains committed to expanding its operations and maintaining financial discipline. The management’s outlook is positive, with ongoing investments in strategic projects and a focus on maintaining its leadership position in the copper industry while contributing to the communities it operates in.