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Ero Copper Reports First Quarter 2025 Operating and Financial Results
EROEro Copper(ERO) GlobeNewswire·2025-05-05 21:07

Core Viewpoint - Ero Copper Corp. reported strong operational and financial results for Q1 2025, driven by increased copper production and higher metals prices, with a focus on achieving record copper production in 2025 [1][4][7]. Financial Highlights - Revenues for Q1 2025 were 125.1million,upfrom125.1 million, up from 122.5 million in Q4 2024 and 105.8millioninQ12024[13].−NetincomeattributabletoownersoftheCompanywas105.8 million in Q1 2024 [13]. - Net income attributable to owners of the Company was 80.2 million (0.77perdilutedshare),asignificantrecoveryfromanetlossof0.77 per diluted share), a significant recovery from a net loss of 48.9 million in Q4 2024 [13][14]. - Adjusted EBITDA for the quarter was 63.2million,comparedto63.2 million, compared to 59.1 million in Q4 2024 and 43.3millioninQ12024[13][34].OperationalHighlights−Consolidatedcopperproductionreached12,424tonnes,withtheTucuma~Operationcontributing5,067tonnesandCaraıˊbaOperationsproducing7,357tonnes[5][11].−Goldproductiontotaled6,638ounces,withaverageC1cashcostsof43.3 million in Q1 2024 [13][34]. Operational Highlights - Consolidated copper production reached 12,424 tonnes, with the Tucumã Operation contributing 5,067 tonnes and Caraíba Operations producing 7,357 tonnes [5][11]. - Gold production totaled 6,638 ounces, with average C1 cash costs of 1,100 per ounce and All-in Sustaining Costs (AISC) of 2,228perounce[5][12].−Thecompanyachieveda322,228 per ounce [5][12]. - The company achieved a 32% quarter-on-quarter increase in ore tonnes processed at the Tucumã Operation, with more than half of the production occurring in March 2025 [11][15]. Production and Cost Guidance - Ero Copper expects full-year copper production for 2025 to range between 75,000 and 85,000 tonnes, with sequential increases anticipated throughout the year [15][17]. - The company reaffirmed its gold production guidance of 50,000 to 60,000 ounces for the Xavantina Operations, supported by higher processed tonnage and improved gold grades [16][17]. Capital Expenditure Guidance - Capital expenditure guidance for 2025 remains unchanged at 230 to 270million,excludingcapitalizedramp−upcostspriortothedeclarationofcommercialproductionattheTucuma~Operation[20][21].LiquidityPosition−AttheendofQ12025,availableliquiditywas270 million, excluding capitalized ramp-up costs prior to the declaration of commercial production at the Tucumã Operation [20][21]. Liquidity Position - At the end of Q1 2025, available liquidity was 115.6 million, including 80.6millionincashandcashequivalentsand80.6 million in cash and cash equivalents and 35 million of undrawn availability under the senior secured revolving credit facility [5][43].