BUENAVENTURA MINING CO INC (BVN) saw its loss widen to $405.86 million, or $1.60 a share for the quarter ended Dec. 31, 2016. In the previous year period, the company reported a loss of $292.55 million, or $1.15 a share. Revenue during the quarter grew 22.12 percent to $287.13 million from $235.12 million in the previous year period. Gross margin for the quarter period stood at positive 20.31 percent as compared to a negative 1.40 percent for the previous year period. Operating margin for the quarter period stood at positive 8.63 percent as compared to a negative 18.49 percent for the previous year period.
Operating income for the quarter was $24.79 million, compared with an operating loss of $43.48 million in the previous year period.
However, the adjusted EBITDA for the quarter stood at $80.95 million compared with $19.89 million in the prior year period. At the same time, adjusted EBITDA margin improved 1974 basis points in the quarter to 28.19 percent from 8.46 percent in the last year period.
Operating cash flow improves significantlyBUENAVENTURA MINING has generated cash of $391.40 million from operating activities during the year, up 207.56 percent or $264.14 million, when compared with the last year. The company has spent $364.88 million cash to meet investing activities during the year as against cash outgo of $341.67 million in the last year.
The company has spent $24.50 million cash to carry out financing activities during the year as against cash inflow of $214.42 million in the last year period.
Cash and cash equivalents stood at $80.54 million as on Dec. 31, 2016, up 2.58 percent or $2.02 million from $78.52 million on Dec. 31, 2015.
Debt comes down significantly
BUENAVENTURA MINING has recorded a decline in total debt over the last one year. It stood at $55 million as on Dec. 31, 2016, down 80.72 percent or $230.30 million from $285.30 million on Dec. 31, 2015. BUENAVENTURA MINING has recorded a decline in short-term debt over the last one year. It stood at $55 million as on Dec. 31, 2016, down 80.72 percent or $230.30 million from $285.30 million on Dec. 31, 2015.
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