Botnia Gold (BOTX) Q4 2024 earnings summary

Executive summary

• Achieved first gold sales and transitioned to a gold-producing company in 2024, with Fäbodtjärn mine starting production in May.

• Q4 2024 marked the first quarter with positive EBIT and balanced cash flow, exceeding expectations due to higher gold prices.

• Focus remains on optimizing Fäbodtjärn and evaluating further projects in the Vindelgransele area.

Financial highlights

• Q4 2024 net sales: KSEK 57,828 (0); EBIT: KSEK 13,663 (-1,976); net income: KSEK 42,959 (-1,627); EPS: SEK 1.05 (-0.04), all compared to Q4 2023.

• Full year 2024 net sales: KSEK 57,828 (0); EBIT: KSEK -6,532 (-7,563); net income: KSEK 22,558 (-7,277); EPS: SEK 0.56 (-0.18), all compared to 2023.

• Investments in 2024 totaled KSEK 44,964 (18,426), mainly in Fäbodtjärn and exploration.

• Cash flow for 2024: KSEK -26,937 (-21,686); cash at year-end: KSEK 17,618 (44,555).

• Equity at year-end: KSEK 162,084 (134,597); soliditet: 73.8% (88.5%).

Outlook and guidance

• Fäbodtjärn expected to reach planned annual production capacity in Q1 2025.

• Positive cash flow anticipated by end of Q1 or early Q2 2025, despite upcoming investment outflows.

• Ongoing expansion and optimization of production, with further exploration in Vindelgransele.