Logotype for Solidcore Resources plc

Solidcore Resources (POYYF) investor relations material

Solidcore Resources H2 2024 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Logotype for Solidcore Resources plc
H2 2024 earnings summary1 Apr, 2025

Executive summary

  • 2024 saw revenue rise 49% to $1,328m, with adjusted EBITDA up 62% to $712m and underlying net earnings up 230% to $499m, driven by strong gold prices and stable gold equivalent production.

  • Gold equivalent production was 490 Koz, up 1% year-over-year and 3% above guidance, with stable output at Kyzyl and Varvara.

  • No lost time injuries or fatalities were recorded in 2024, marking the seventh consecutive year without fatal incidents at Kazakhstan sites.

Financial highlights

  • Adjusted EBITDA rose 62% to $712m, with a margin of 54%; underlying net earnings surged 230% to $499m and EPS reached $1.05.

  • Revenue increased 49% year-over-year to $1,328m, with Kyzyl contributing significant growth.

  • Capital expenditure increased 44% to $208m; free cash flow was $435m, aided by the disposal of the Russian business and high gold prices.

  • Net cash position at year-end was $374m, reversing from $174m net debt in 2023; gross debt stood at $322m with an average interest rate of 4.4%.

  • Total cash cost (TCC) was $971/GE oz, up 8% year-over-year, within guidance; AISC was $1,298/GE oz, up 3%.

Outlook and guidance

  • 2025 gold production expected to decline by about 5% to 470 Koz GE, with TCC projected at $1,000–1,100/GE oz and AISC at $1,350–1,450/GE oz.

  • CapEx to increase by nearly 50% to $300m in 2025, excluding potential M&A.

  • Management expects current high gold prices to be unsustainable and is planning conservatively.

  • Q1 2025 revenue at Kyzyl may be negatively impacted by concentrate delivery delays due to international sanctions affecting Russian processing facilities.

  • No dividends proposed for 2024; growth and investment prioritized.

Partial view of Summaries dataset, powered by Quartr API
Research faster. Power your platform.
Your earnings 
season toolkit.
Download
Free on both iOS & Android.

The essential earnings season companion

The #1 app for qualitative research. Live earnings calls, AI chat, transcripts, and more. All for free.

Live calls and transcripts

Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.

Find what you need faster

Search for any keyword across all transcripts simultaneously.

Easily store key findings

Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.

Your watchlist. Your dashboard.

Follow the companies that matter to you. Get a personalized feed with real-time updates.

Be the first to know

Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.

Consensus estimates

Access analyst consensus estimates, valuation multiples, and revenue segments splits.

All IR material in one place

The easiest way to stay updated during earnings season.

Global coverage

All events from public companies. Live and recorded.

Just click and listen

No webcast links. No manual registrations.

Research anytime, anywhere

Built for professionals. Loved by everyone. Try our free mobile app.

excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
App-store-avatar.png play-store-avatar.png
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
play-store-avatar
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
App-store-avatar.png play-store-avatar.png
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
App-store-avatar.png play-store-avatar.png
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
play-store-avatar
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
App-store-avatar.png play-store-avatar.png
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
x-avatar
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
App-store-avatar.png play-store-avatar.png
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
x-avatar
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
x-avatar
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
App-store-avatar.png play-store-avatar.png
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
x-avatar
@theshortbearx.com

Frequently asked questions

Solidcore Resources plc (Polymetal International plc) operates as a precious metals mining company. It engages in the exploration, development, production and processing of gold, silver and copper ores; as well as the sale of gold and silver concentrates in Russia, Kazakhstan, Myanmar, China and Finland. The company's sales channels are direct marketing; third party distributors; long-term agreements with end-users; and strategic commercial partners.

Quartr provides global coverage of all investor relation material from public companies.

  • Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.

  • Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.

  • Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.

Yes, the Quartr mobile app is free on both iOS and Android.

Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.

Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.

Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.

Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.

Explore our global coverage