Ero Copper Corp.
For the period ended Dec 31, 2023. Filed Mar 7, 2024.
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The yearly report of certain Canadian companies, filed under a joint US and Canadian system. It is the main yearly account these companies give US investors, largely as filed in Canada.
FY2023 · Filed Mar 7, 2024
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Contents
EX-99.2 · HIGHLIGHTS
HIGHLIGHTS
| 2023 - Q4 | 2023 - Q3 | 2022 - Q4 | 2023 | 2022 | |
|---|---|---|---|---|---|
| Operating Information | |||||
| Copper (Caraíba Operations) | |||||
| Ore Processed (tonnes) | 812,202 | 806,096 | 745,850 | 3,231,667 | 2,864,230 |
| Grade (% Cu) | 1.59 | 1.46 | 1.84 | 1.49 | 1.76 |
| Cu Production (tonnes) | 11,760 | 10,766 | 12,664 | 43,857 | 46,371 |
| Cu Production (lbs) | 25,926,281 | 23,734,026 | 27,918,071 | 96,687,638 | 102,229,718 |
| Cu Sold in Concentrate (tonnes) | 11,429 | 10,090 | 13,301 | 42,595 | 46,816 |
| Cu Sold in Concentrate (lbs) | 25,196,731 | 22,243,586 | 29,323,118 | 93,905,643 | 103,211,464 |
| Cu C1 Cash Cost(1)(2) | $1.75 | $1.92 | $1.59 | $1.80 | $1.55 |
| Gold (Xavantina Operations) | |||||
| Ore Processed (tonnes) | 34,416 | 31,446 | 39,715 | 136,002 | 189,743 |
| Grade (g / tonne) | 17.18 | 18.72 | 10.17 | 15.13 | 7.61 |
| Au Production (oz) | 16,867 | 17,579 | 11,786 | 59,222 | 42,669 |
| Au C1 Cash Cost(1) | $413 | $371 | $445 | $422 | $560 |
| Au AISC(1) | $991 | $844 | $1,096 | $957 | $1,124 |
| Financial information ($ in millions, except per share amounts) | |||||
| Revenues | $116.4 | $105.2 | $116.7 | $427.5 | $426.4 |
| Gross profit | 41.9 | 35.5 | 52.7 | 156.8 | 187.2 |
| EBITDA(1) | 73.7 | 28.3 | 53.6 | 208.7 | 208.3 |
| Adjusted EBITDA(1) | 50.3 | 42.9 | 53.2 | 183.5 | 198.3 |
| Cash flow from operations | 49.4 | 41.9 | 34.0 | 163.1 | 143.4 |
| Net income | 37.1 | 2.8 | 22.5 | 94.3 | 103.1 |
| Net income attributable to owners of the Company | 36.5 | 2.5 | 22.2 | 92.8 | 101.8 |
| - Per share (basic) | 0.37 | 0.03 | 0.24 | 0.99 | 1.12 |
| - Per share (diluted) | 0.37 | 0.03 | 0.24 | 0.98 | 1.10 |
| Adjusted net income attributable to owners of the Company(1) | 20.7 | 17.3 | 22.2 | 82.8 | 83.5 |
| - Per share (basic) | 0.21 | 0.19 | 0.24 | 0.88 | 0.92 |
| - Per share (diluted) | 0.21 | 0.18 | 0.24 | 0.87 | 0.91 |
| Cash, cash equivalents and short-term investments | 111.7 | 87.6 | 317.4 | 111.7 | 317.4 |
| Working capital(1) | 25.7 | 32.8 | 263.3 | 25.7 | 263.3 |
| Available liquidity(1) | 261.7 | 237.6 | 392.4 | 261.7 | 392.4 |
| Net debt(1) | 314.5 | 331.8 | 100.7 | 314.5 | 100.7 |
(2) Copper C1 cash cost including foreign exchange hedges was $1.59 in Q4 2023 (Q4 2022 - $1.59) and $1.68 in Fiscal 2023 (2022 - $1.67).
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