Serabi Gold (SRB) Q2 2025 earnings summary

Executive summary

• Gold production for the first six months of 2025 reached 20,545 ounces, up 14% year-over-year, with sales of 20,215 ounces, a 9% increase from the prior year.

• Gross profit for the six months ended 30 June 2025 was $28.3 million, nearly doubling from $14.7 million in the same period of 2024.

• Revenue rose to $62.5 million, a 47% increase year-over-year, driven by higher gold prices and increased bullion sales.

• Net profit after tax for the six months was $18.9 million, up from $9.2 million year-over-year.

Financial highlights

• Revenue for the six months ended 30 June 2025 was $62.5 million, compared to $42.7 million in 2024.

• Gross profit margin improved significantly, with gross profit at $28.3 million versus $14.7 million year-over-year.

• Basic and diluted EPS for the period were 24.99 cents, up from 12.18 cents in 2024.

• Cash and cash equivalents increased to $30.4 million as of 30 June 2025, up from $22.2 million at year-end 2024.

• Operating cash flow for the six months was $21.9 million, compared to $9.6 million in the prior year.

Outlook and guidance

• Management expects to continue gold production from the Palito Complex and increase output from the Coringa mine, targeting higher production than 2024.

• Directors will manage discretionary expenditures to maintain liquidity and monitor operational and economic risks.