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, announced today results for the fourth quarter 2011. All figures have been prepared in accordance with Peruvian GAAP and are stated in U.S. dollars (US$).
Comments from the Chief Executive Officer:
Mr. Roque Benavides, Buenaventura’s Chief Executive Officer, stated:
“Net income in the fourth quarter reached US$230.9 million, which was similar to the figure reported in 4Q10 (US$228.1 million). EBITDA from Buenaventura’s Direct Operations was US$198.3 million, 15% lower than the figure reported in 4Q10 (US$232.8 million), while EBITDA including Yanacocha and Cerro Verde decreased 9%, from US$457.0 million in 4Q10 to US$415.6 million in 4Q11.The lower gold, zinc and copper volume sold were offset by the increase in silver volume sold, as well as higher precious metal prices.”
|Financial Highlights (in millions of US$, except EPS figures):|
|4Q11||4Q10||Var%||FY 2011||FY 2010||Var%|
|EBITDA (BVN Direct Operations)†||198.3||232.8||-15%||834.3||538.6||55%|
|EBITDA (inc. Yanacocha and Cerro Verde)†||415.6||457.0||-9%||1,662.1||1,322.8||26%|
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