The Fresnillo Plc Board of Directors has declared an interim dividend of 20.8 US cents per Ordinary Share totalling US$153.3 million, which will be paid on 17 September 2025 to shareholders on the register on 15 August 2025. The dividend will be paid in UK pounds sterling unless shareholders elect to be paid in US dollars. This interim dividend is higher than the previous period due to the increase in profit in 1H25, and remains in line with the Group's dividend policy. This decision was made after a comprehensive review of the Group's financial situation, ensuring that the Group is well placed to meet its current and future financial requirements, including its development and exploration projects.
Other financial highlights include:
Adjusted Revenues of US$1,982.9m, up 27.1%; mainly due to higher gold and silver prices, and increased volumes of gold sold, partly offset by a lower volume of silver sold.
Revenues of US$1,936.2m, up 30.1%; driven by the increased adjusted revenues and lower treatment and refining charges.
Adjusted production costs of US$673.5m, down 20.2% over 1H24 primarily due to the devaluation of the Mexican peso vs. the US dollar, the net decrease in volumes of ore processed, mainly at Fresnillo, Herradura, and Ciénega, the decrease in adjusted production as a result of the closure of San Julián DOB, and the positive impact of efficiencies and cost reduction initiatives, mainly at Herradura.
Cost of sales of US$913.2m, down 16.7% mainly as a result of the lower adjusted production costs and decreased depreciation, partly offset by the less favourable effect of the variation in change in inventories.
Gross profit and EBITDA of US$1,022.9m and US$1,102.1m, up 160.7% and 102.5%, respectively.
Profit from continuing operations before net finance costs and income tax of US$860.8m, up 266.0%.
Following operational and financial difficulties impacting silver production and the long-term viability of the Sabinas mine, and an evaluation of the options available, Peñoles has agreed to buy back the Silverstream Contract for US$40.0m, which results in a non-cash Silverstream loss, net of taxes, of US$133.0 million.
Profit for the period before income tax of US$660.3m, up 137.7%.
Income tax expense and mining rights of US$192.8m, up 20.4%
Profit for the period of US$467.6m, up 297.3% from US$117.7m.
Basic and diluted EPS from continuing operations of US$53.4 cents per share, up 399.1% from US$10.7 cents per share.
Adjusted EPS of US$71.5 cents per share, up from US$4.4 cents per share in 1H24.
Cash generated from operations, before changes in working capital, of US$1,103.6m, up 101.4%.
Free cash flow of US$1,026.1m in 1H25 (US$187.4m in 1H24).
Strong balance sheet with cash and other liquid funds as at 30 June 2025 of US$1,823.0m (31 December 2024: $1,297.8m).
