Atalaya Mining Copper (ATYM) Q3 2025 earnings summary

Executive summary

• Achieved strong Q3 and YTD 2025 operational and financial performance, with copper production of 12.1 kt in Q3 and 39.6 kt YTD, supporting full-year guidance.

• Revenues rose to €106.8m in Q3 and €361.5m YTD, driven by higher sales volumes and copper prices.

• EBITDA reached €30.7m in Q3 and €138.3m YTD, with a net cash position of €89.7m and working capital surplus of €93.1m.

• Continued investment in key projects, including San Dionisio and Cerro Colorado, and board renewal with new appointments.

• ESG focus continues, with community engagement, safety culture improvements, and solar plant at Riotinto reducing carbon footprint.

Financial highlights

• Q3 2025 revenue: €106.8m (up from €86.8m Q3 2024); EBITDA: €30.7m (up from €17.0m); net profit: €10.8m (up from €1.5m); YTD revenue: €361.5m; EBITDA: €138.3m; net profit: €70.9m.

• Free cash flow in Q3: €23.7m; YTD: €60.2m; cash at 30 Sept: €113.8m; net cash: €89.7m.

• Cash flows from operations were €41.7m in Q3 and €120.0m YTD.

• Q3 cash costs: $2.55/lb; AISC: $2.98/lb; YTD cash costs: $2.33/lb; AISC: $2.84/lb.

• Dividend payments since 2021 total €84m, with €0.044/share interim dividend declared in August 2025.

Outlook and guidance

• FY2025 copper production guidance maintained at 49,000–52,000 tonnes, with costs expected at the low end of $2.60–2.80/lb cash costs and $3.10–3.30/lb AISC.

• Q4 production expected to be slightly lower due to scheduled maintenance, but costs anticipated to remain flat or slightly lower than Q3.

• Non-sustaining capex for FY2025 expected at the high end of €29–37m; exploration spend guidance at €8–12m.

• Guidance maintained for 2025, with continued focus on cost control and operational efficiency.