Silvercorp Metals (SVM) Q4 2024 earnings summary

Executive summary

• FY2024 revenue was $215.2M, net income attributable to equity holders $36.3M, adjusted earnings $39.3M, and operating cash flow $91.6M.

• Q4 revenue rose 25% YoY to $42.7M; net income was $5.5M and adjusted earnings $3.8M, with adjusted Q4 results affected by $2.5M of withholding tax on dividends distributed from China.

Financial highlights

• FY2024 revenue increased 3% YoY to $215.2M; mine operating earnings rose 14% to $80.6M.

• FY2024 net income attributable to equity holders increased 76% YoY to $36.3M, or $0.21/share; adjusted earnings rose 6% to $39.3M, or $0.22/share.

• Operating cash flow rose 7% YoY to $91.6M; capitalized expenditures increased 11% to $64.0M.

• Q4 revenue grew 25% YoY to $42.7M and mine operating earnings rose 33% to $13.0M; Q4 adjusted earnings declined 23% to $3.8M.

Outlook and guidance

• FY2024 production cost and all-in sustaining production cost per tonne were within guidance; capital expenditures of $64.0M were comparable to the $64.7M guidance.

• Forward-looking results depend on metal prices, permits, financing, production, operating and capital costs, and other factors; guidance is not guaranteed.