LIMA, Peru--(BUSINESS WIRE)--October 29, 2026--
Compañía 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, today announced results for the third quarter (3Q26) and nine months ended September 30, 2026 (9M26). Financial results are prepared in accordance with International Financial Reporting Standards (IFRS), except for certain non-IFRS financial measures identified herein. All amounts are stated in U.S. dollars (US$), unless otherwise indicated.
Third Quarter 2026 Highlights:
-- Direct operations copper production increased by 7% year-over-year
(YoY), primarily driven by higher ore throughput at El Brocal. Direct
operations gold production decreased by 6% YoY, while equity-attributable
gold production, including associated companies, increased by 7% YoY,
primarily reflecting a full quarter of operations at nameplate capacity
at Coimolache, partially offset by lower production at La Zanja,
Orcopampa and Tambomayo. Direct operations silver production decreased by
21% YoY, primarily due to lower planned silver grades at Yumpag. Lead and
zinc production decreased by 12% and 1% YoY, respectively, with the
decline in lead production primarily reflecting lower grades at
Uchucchacua.
-- 3Q26 EBITDA from direct operations was US$ 261.2 million, compared with
US$ 195.3 million reported in 3Q25. EBITDA from direct operations for the
first nine months of 2026 was US$ 882.0 million, compared with US$ 434.1
million reported in the corresponding period of 2025.
-- 3Q26 net income was US$ 268.4 million, compared with US$ 179.0 million
reported in 3Q25. Net income for the first nine months of 2026 was US$
825.4 million, compared with US$ 424.2 million in net income for the
corresponding period of 2025.
-- Processing at San Gabriel remained constrained for most of the quarter
as the first phase of reinforcement work on the tailings filtration
system was completed. Processing resumed during the final week of
September. Additional reinforcement work is planned to be carried out
progressively over the next six months. Mining activities continued
throughout the quarter, resulting in an ore stockpile of approximately
100,000 metric tons at quarter-end.
-- Buenaventura reported a cash balance of US$ 1,000.6 million as of
September 30, 2026, and negative net debt of US$ 307.3 million,
representing a net cash position. The Company's reported leverage ratio
was negative 0.25x.
-- Buenaventura's Board of Directors approved a dividend of US$ 0.5508 per
share or American Depositary Shares (ADS).
Financial Highlights (US$ millions, except earnings per share):
3Q26 3Q25 Var % 9M26 9M25 Var %
----------------------- ------- ------- ------- -------- -------- ------
Total Revenues 545.3 431.0 27% 1,698.9 1,108.2 53%
----------------------- ------- ------- ------- -------- -------- ------
Operating Income 226.4 154.3 47% 777.9 336.1 131%
----------------------- ------- ------- ------- -------- -------- ------
EBITDA Direct
Operations (1) 261.2 195.3 34% 882.0 434.1 103%
----------------------- ------- ------- ------- -------- -------- ------
EBITDA Including
Affiliates 509.5 338.1 51% 1,534.7 811.4 89%
----------------------- ------- ------- ------- -------- -------- ------
Net Income (2) 268.4 179.0 50% 825.4 424.2 95%
----------------------- ------- ------- ------- -------- -------- ------
EPS (2)(3) 1.06 0.70 50% 3.25 1.67 95%
----------------------- ------- ------- ------- -------- -------- ------
(1) Beginning in 3Q26, the Company revised its EBITDA calculation methodology
and restated for comparative figures to present them on a consistent basis.
See Appendix 3 for additional information.
(2) Total net income for the period.
(3) Earnings per share is calculated based on the weighted-average number of
shares outstanding during the period. The weighted average number of shares
outstanding for the period ended September 30, 2026, was 253,986,867.
For a full version of Compañía de Minas Buenaventura Third Quarter 2026 Earnings Release, please visit: https://buenaventura.com/informes-y-reportes
CONFERENCE CALL INFORMATION:
Compañia de Minas Buenaventura will host a conference call on Friday, October 30, 2026, to discuss these results at 12:00 pm Eastern Time / 11:00 a.m. Lima Time.
To participate in the conference call, please dial:
Toll-Free US:
+1 844 481 2914
Toll International:
+1 412 317 0697
Passcode:
Please ask to be joined into the Compañía de Minas Buenaventura's call.
Live Webcast: Click here
If you would prefer to receive a call rather than dial-in, please use the following link 10-15 minutes prior to the conference call start time:
Call Me Link: Click Here
Passcode: 1556919
Participants who do not wish to be interrupted to have their information gathered may have Chorus Call dial out to them by clicking on the above link, filling in the information, and pressing the green phone button at the bottom. The phone number provided will be automatically called and connected to the conference without any interruption to the participant. (Please note: Participants will be joined directly to the conference and will hear hold music until the call begins. No confirmation message will be played when joined.)
Company Description
Compañía de Minas Buenaventura S.A.A. is Peru's largest publicly traded precious and base metals mining company and a major holder of mining rights in Peru. The Company engages in the exploration, development, mining, processing and sale of gold, silver and base metals through its wholly-owned operations and interests in joint ventures. Buenaventura currently operates several mines in Peru (Orcopampa*, Uchucchacua*, Julcani*, Tambomayo*, La Zanja*, San Gabriel*, El Brocal and Coimolache).
The Company holds a 19.58% ownership interest in Sociedad Minera Cerro Verde, a major Peruvian copper producer, alongside Freeport-McMoRan Inc. and Sumitomo Corporation.
(*) Wholly owned operations.
For a printed copy of the Company's 2025 Form 20-F, please contact Investor Relations or download the PDF version from the Company's website at www.buenaventura.com.
Note on Forward-Looking Statements
This press release may contain forward-looking statements (as defined in the U.S. Private Securities Litigation Reform Act of 1995) that involve risks and uncertainties. Words such as "anticipate," "believe," "estimate," "expect," "guidance," "intend," "plan," "project," "target," "will" and similar expressions are intended to identify forward-looking statements. Forward-looking statements include those concerning Compañía de Minas Buenaventura S.A.A.'s (the "Company") and Sociedad Minera Cerro Verde S.A.A.'s production guidance, operating performance, costs and expenses, mine development and ramp-up schedules, results of exploration, improvements in operating efficiency, prevailing market prices of gold, silver, copper and other metals mined, the success of joint ventures, estimates of future exploration, development and production, the Company's and its subsidiaries' plans for capital expenditures and estimates of reserves. These forward-looking statements reflect the Company's current expectations and assumptions regarding its future operating and financial performance and are not guarantees of future performance. Actual results could differ materially from those expressed or implied by the forward-looking statements as a result of these and other risks and uncertainties, including those discussed in the Company's filings with the U.S. Securities and Exchange Commission. Forward-looking statements speak only as of the date of this release, and the Company undertakes no obligation to update or revise them, except as required by applicable law.
View source version on businesswire.com: https://www.businesswire.com/news/home/20261029094610/en/
CONTACT: Contacts in Lima:
Daniel Dominguez, Chief Financial Officer
(511) 419 2540
Sebastián Valencia, Head of Investor Relations
(511) 419 2591 / sebastian.valencia@buenaventura.pe
Contact in NY:
Barbara Cano
(646) 452 2334
barbara@inspirgroup.com
Company Website: https://buenaventura.com/en/inversionista/
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