Buenaventura Announces First Quarter Results

Business Wire

Compañia de Minas Buenaventura S.A.A. (“Buenaventura” or “the Company”) (NYSE: BVN; Lima Stock Exchange: BUE.LM), Peru’s largest publicly-traded precious metals mining company, today announced results for the first quarter (1Q26) ended March 31, 2026. All figures have been prepared in accordance with IFRS (International Financial Reporting Standards) on a non-GAAP basis and are stated in U.S. dollars (US$).

First Quarter 2026 Highlights:

Gold production increased by 8% year-over-year (YoY) primarily driven by the ramp-up of operations at San Gabriel. Consolidated silver production increased by 6% YoY, reflecting higher output at El Brocal, Uchucchacua and Tambomayo. Lead and zinc production increased by 20% and 27% YoY, respectively, primarily due to higher throughput at Uchucchacua. Copper production decreased by 11% YoY, primarily due to lower output at El Brocal. This reflects the mine plan for 1Q26, which prioritized the processing of previously classified as low grade lead-silver ore, resulting in reduced copper ore throughput.
EBITDA from direct operations was US$ 386.3 million, compared to US$ 126.3 million reported in 1Q25.
Net income was US$ 355.2 million, compared to US$ 147.0 million net income in 1Q25.
Capital expenditures (CAPEX) related to San Gabriel totaled US$49.2 million in 1Q26, primarily allocated to the completion of the processing plant. San Gabriel entered the ramp-up phase during the quarter.
Buenaventura’s cash position totaled US$ 759.9 million as of March 31, 2026. The Company reported a net cash position, with net debt of negative US$51.9 million, equivalent to a leverage ratio of -0.05x.
On April 24, 2026, subsequent to the quarter’s end, Buenaventura received US $58.7 million in dividends related to its stake in Cerro Verde. Total dividends received year-to-date 2026 amounted to US$156.6 million.

Financial Highlights (in millions of US$, excluding EPS):

	1Q26	1Q25	Var
Total Revenues	624.6	307.7	103%
Operating Income	329.3	93.9	251%
EBITDA Direct Operations	386.3	126.3	206%
EBITDA Including Affiliates	579.4	251.1	131%
Net Income ⁽¹⁾	335.4	140.1	139%
EPS ⁽²⁾	1.32	0.55	139%
(1) Net Income attributable to owners of the parent. (2) Weighted average number of shares outstanding for the period ending March 31, 2026: 253,986,867.

For a full version of Compañia de Minas Buenaventura First Quarter 2026 Earnings Release, please visit: https://buenaventura.com/informes-y-reportes

CONFERENCE CALL INFORMATION:

Compañia de Minas Buenaventura will host a conference call on Thursday, April 30, 2026, to discuss these results at 12:00 pm Eastern Time / 11:00 a.m. Lima Time.

To participate in the conference call, please dial:

Toll-Free US:

+1 844 481 2914

Toll International:

+1 412 317 0697

Passcode:

Please ask to be joined into the Compañía de Minas Buenaventura’s call.

Live Webcast: Click here

If you would prefer to receive a call rather than dial-in, please use the following link 10-15 minutes prior to the conference call start time:

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Passcode: 3612505

Participants who do not wish to be interrupted to have their information gathered may have Chorus Call dial out to them by clicking on the above link, filling in the information, and pressing the green phone button at the bottom. The phone number provided will be automatically called and connected to the conference without any interruption to the participant. (Please note: Participants will be joined directly to the conference and will hear hold music until the call begins. No confirmation message will be played when joined.)

Company Description

Compañía de Minas Buenaventura S.A.A. is Peru’s largest, publicly traded precious and base metals Company and a major holder of mining rights in Peru. The Company is engaged in the exploration, mining development, processing and trade of gold, silver and other base metals via wholly-owned mines and through its participation in joint venture projects. Buenaventura currently operates several mines in Peru (Orcopampa*, Uchucchacua*, Julcani*, Tambomayo*, La Zanja*, El Brocal and Coimolache).

The Company owns 19.58% of Sociedad Minera Cerro Verde, an important Peruvian copper producer (a partnership with Freeport-McMorRan Inc. and Sumitomo Corporation).

For a printed version of the Company’s 2024 Form 20-F, please contact the investor relations contacts on page 1 of this report or download the PDF format file from the Company’s web site at www.buenaventura.com.

(*) Operations wholly owned by Buenaventura

Note on Forward-Looking Statements

This press release and related conference call contain, in addition to historical information, forward-looking statements including statements related to the Company’s ability to manage its business and liquidity during and after the COVID-19 pandemic, the impact of the COVID-19 pandemic on the Company’s results of operations, including net revenues, earnings and cash flows, the Company’s ability to reduce costs and capital spending in response to the COVID-19 pandemic if needed, the Company’s balance sheet, liquidity and inventory position throughout and following the COVID-19 pandemic, the Company’s prospects for financial performance, growth and achievement of its long-term growth algorithm following the COVID-19 pandemic, future dividends and share repurchases.

This press release may also contain forward-looking information (as defined in the U.S. Private Securities Litigation Reform Act of 1995) that involve risks and uncertainties, including those concerning the Company’s, Cerro Verde’s costs and expenses, results of exploration, the continued improving efficiency of operations, prevailing market prices of gold, silver, copper and other metals mined, the success of joint ventures, estimates of future explorations, development and production, subsidiaries’ plans for capital expenditures, estimates of reserves and Peruvian political, economic, social and legal developments. These forward-looking statements reflect the Company’s view with respect to the Company’s, Cerro Verde’s future financial performance. Actual results could differ materially from those projected in the forward-looking statements as a result of a variety of factors discussed elsewhere in this Press Release.

Company Website: https://buenaventura.com/en/inversionista/