$BVN

BUENAVENTURA MINING CO INC

CIK:0001013131|SEC Filings

Consolidated statements of profit or loss - USD ($)	12 Months Ended
Consolidated statements of profit or loss - USD ($)	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Continuing operations
Sales of goods	$ 1,720,334,000	$ 1,147,590,000	$ 810,961,000
Sales of services	11,305,000	7,015,000	12,884,000
Total operating income	1,731,639,000	1,154,605,000	823,845,000
Cost of sales
Cost of sales of goods, excluding depreciation and amortization	(750,985,000)	(568,482,000)	(457,354,000)
Unabsorbed cost due to production stoppage	(2,968,000)	(2,135,000)	(19,893,000)
Cost of sales of services, excluding depreciation and amortization	(4,699,000)	(3,050,000)	(6,243,000)
Depreciation and amortization	(120,138,000)	(150,821,000)	(181,039,000)
Exploration in operating units	(51,906,000)	(50,884,000)	(49,229,000)
Mining royalties	(18,552,000)	(19,946,000)	(18,839,000)
Total cost of sales	(949,248,000)	(795,318,000)	(732,597,000)
Gross profit	782,391,000	359,287,000	91,248,000
Operating income (expenses)
Administrative expenses	(70,213,000)	(61,340,000)	(69,183,000)
Selling expenses	(28,662,000)	(25,768,000)	(19,392,000)
Exploration in non-operating areas	(24,766,000)	(21,860,000)	(13,452,000)
Reversal (provision) of contingencies and others	(732,000)	(596,000)	6,927,000
Other, net	(24,812,000)	195,932,000	24,973,000
Total operating income (expenses)	(149,185,000)	86,368,000	(70,127,000)
Operating Profit	633,206,000	445,655,000	21,121,000
Other income (expense), net
Share in the results of associates and joint venture	307,920,000	189,847,000	152,225,000
Gain (loss) foreign exchange difference	64,967,000	(9,184,000)	19,375,000
Finance income	48,346,000	12,528,000	9,057,000
Finance costs	(87,129,000)	(65,397,000)	(119,254,000)
Profit before income tax	967,310,000	573,449,000	82,524,000
Income tax
Current income tax	(120,334,000)	(103,116,000)	(69,306,000)
Deferred income tax	(7,867,000)	(53,048,000)	26,312,000
Total income tax	(128,201,000)	(156,164,000)	(42,994,000)
Profit from continuing operations	839,109,000	417,285,000	39,530,000
Discontinued operations
Loss from discontinued operations	(8,921,000)	(1,022,000)	(6,848,000)
Net Profit	830,188,000	416,263,000	32,682,000
Profit attributable to:
Owners of the parent	782,145,000	402,689,000	19,855,000
Non-controlling interest	48,043,000	13,574,000	12,827,000
Net Profit	$ 830,188,000	$ 416,263,000	$ 32,682,000
Basic profit (loss) per share, stated in U.S. dollars - Attributable to owners of parent	$ 3.08	$ 1.59	$ 0.08
Diluted profit (loss) per share, stated in U.S. dollars - Attributable to owners of parent	3.08	1.59	0.08
Basic profit (loss) per share, stated in U.S. dollars - Attributable to owners of the parent for continuing operations	3.3	1.64	0.16
Diluted profit (loss) per share, stated in U.S. dollars - Attributable to owners of the parent for continuing operations	$ 3.3	$ 1.64	$ 0.16
Sociedad Minera Cerro Verde S.A.A.
Continuing operations
Sales of goods	$ 4,728,340,000	$ 4,238,322,000	$ 4,143,228,000
Total operating income	4,728,340,000	4,238,322,000	4,143,228,000
Cost of sales
Cost of sales of goods, excluding depreciation and amortization	(2,562,301,000)	(2,588,779,000)	(2,563,519,000)
Total cost of sales	(2,562,301,000)	(2,588,779,000)	(2,563,519,000)
Gross profit	2,166,039,000	1,649,543,000	1,579,709,000
Operating income (expenses)
Selling expenses	(118,643,000)	(145,771,000)	(158,244,000)
Other operating expenses	(63,528,000)	(23,688,000)	(91,219,000)
Other operating income	6,510,000	5,414,000	3,406,000
Total operating income (expenses)	(175,661,000)	(164,045,000)	(246,057,000)
Operating Profit	1,990,378,000	1,485,498,000	1,333,652,000
Other income (expense), net
Gain (loss) foreign exchange difference	72,439,000	1,162,000	20,476,000
Finance income	40,012,000	40,623,000	36,285,000
Finance costs	(7,495,000)	(9,552,000)	(67,118,000)
Profit before income tax	2,095,334,000	1,517,731,000	1,323,295,000
Income tax
Total income tax	(728,205,000)	(564,554,000)	(544,331,000)
Discontinued operations
Net Profit	1,367,129,000	953,177,000	778,964,000
Profit attributable to:
Net Profit	$ 1,367,129,000	$ 953,177,000	$ 778,964,000
Basic profit (loss) per share, stated in U.S. dollars - Attributable to owners of parent	$ 3.905	$ 2.723	$ 2.225
Diluted profit (loss) per share, stated in U.S. dollars - Attributable to owners of parent	$ 3.905	$ 2.723	$ 2.225

Consolidated statements of cash flows - USD ($)	12 Months Ended
Consolidated statements of cash flows - USD ($)	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Cash flows of operating activities
Profit for the year	$ 830,188,000	$ 416,263,000	$ 32,682,000
Proceeds from sales of goods and services	1,459,767,000	1,142,569,000	782,421,000
Dividends received from associates	118,004,000	168,890,000	147,286,000
Recovery of taxes	98,014,000	35,455,000	48,417,000
Interest received	19,018,000	5,210,000	5,123,000
Dividends received from financial investments	1,050,000	1,150,000	150,000
Payments to suppliers and third parties, and other net	(733,001,000)	(597,949,000)	(527,167,000)
Payments to and for employees	(178,147,000)	(149,482,000)	(136,612,000)
Income tax and royalties paid to Peruvian State	(137,391,000)	(58,918,000)	(30,049,000)
Interest paid	(45,524,000)	(38,172,000)	(39,590,000)
Payments of royalties to third parties	(16,174,000)	(15,832,000)	(12,832,000)
Payments for tax litigation	(8,296,000)	(6,862,000)	(10,115,000)
Net increase (decrease) in operating liabilities:
Net cash flows generated from operating activities	577,320,000	486,059,000	227,032,000
Cash flows of investing activities
Proceeds from sale of property, plant and equipment	2,242,000	11,131,000	9,689,000
Payments for acquisition of property, plant and equipment	(473,008,000)	(337,743,000)	(238,669,000)
Payments for acquisition of other assets	(6,900,000)	(2,506,000)	(3,804,000)
Cash contribution in associates	0	(400,000)	0
Net cash flows used in investing activities	(477,666,000)	(117,924,000)	(205,536,000)
Cash flows of financing activities
Issuance of Senior Notes, net of issuance costs	634,344,000	0	0
Proceeds from bank loans	0	0	49,000,000
Payments of financial obligations	(556,750,000)	(79,602,000)	(31,034,000)
Payments of bank loans	0	0	(49,000,000)
Dividends paid to controlling interest	(110,949,000)	(18,440,000)	(18,542,000)
Lease payments	(3,366,000)	(4,138,000)	(4,475,000)
Dividends paid to non-controlling interest	(11,529,000)	(7,343,000)	(1,607,000)
Decrease (increase) of bank accounts in trust	0	34,000	34,000
Net cash flows used in financing activities	(48,250,000)	(109,490,000)	(55,624,000)
Increase (decrease) in cash and cash equivalents for the year, net	51,404,000	258,645,000	(34,128,000)
Cash and cash equivalents at beginning of year	478,435,000	219,790,000	253,918,000
Cash and cash equivalents at year-end	529,839,000	478,435,000	219,790,000
Financing and investing activities not affecting cash flows:
Changes in estimates of mine closure plans	67,231,000	65,397,000	11,879,000
Additions of work in progress	18,299,000	11,243,000	1,715,000
Leases additions	2,640,000	497,000	1,137,000
Due from for sales of assets	101,000	100,000	2,744,000
Contacto Corredores de Seguros S.A.
Cash flows of investing activities
Proceeds from sale of investments	0	1,060,000	27,003,000
S.M.R.L. Chaupiloma Dos de Cajamarca and BISA
Cash flows of investing activities
Proceeds from sale of investments	0	210,534,000	245,000
Sociedad Minera Cerro Verde S.A.A.
Cash flows of operating activities
Profit for the year	1,367,129,000	953,177,000	778,964,000
Adjustments to reconcile profit after income tax to net cash flows from operating activities:
Income tax expense	754,929,000	566,927,000	545,948,000
Depreciation and amortization	654,038,000	585,346,000	543,658,000
Work in progress stockpiles write-off	0	0	1,527,000
Accretion on the provision for remediation and mine closure	11,392,000	11,160,000	9,917,000
Loss on materials obsolescence, net	959,000	6,897,000	12,496,000
Reversal of Supplemental fund retirement deferred	0	(5,414,000)
Loss on asset values impairment	21,000	19,000	3,546,000
Gain on sale of property, plant and equipment	3,371,000	370,000	138,000
Gain on uncertain income tax positions	(26,724,000)	(2,373,000)	(1,617,000)
Canceled capital projects	0	0	2,164,000
Share-based payments cost	2,552,000	2,166,000	2,776,000
Net (increase) decrease in operating assets:
Trade and other receivables	(389,824,000)	78,498,000	113,420,000
Other accounts receivable	(4,412,000)	(825,000)	1,178,000
Inventories and stockpiles and ore on leach pads	(10,544,000)	35,942,000	(22,305,000)
Other non-financial assets	(39,222,000)	9,418,000	52,204,000
Net increase (decrease) in operating liabilities:
Trade and other payables	36,202,000	(9,950,000)	(31,375,000)
Other accounts payable	18,700,000	2,721,000	(15,981,000)
Benefits to employees	23,518,000	2,651,000	(26,396,000)
Other provisions	(4,294,000)	14,851,000	2,129,000
Interest paid (not included in the financing activities)	(1,789,000)	(1,765,000)	(1,774,000)
Interest on lease payments	(5,083,000)	(3,320,000)	(3,685,000)
Income tax paid	(650,996,000)	(547,898,000)	(599,674,000)
Net cash flows generated from operating activities	1,739,923,000	1,698,598,000	1,367,258,000
Cash flows of investing activities
Proceeds from sale of property, plant and equipment	965,000	271,000	2,277,000
Payments for acquisition of property, plant and equipment	(388,382,000)	(345,802,000)	(312,206,000)
Stripping activity asset	(381,615,000)	(312,608,000)	(344,054,000)
Net cash flows used in investing activities	(769,032,000)	(658,139,000)	(653,983,000)
Cash flows of financing activities
Lease payments	(22,495,000)	(10,398,000)	(7,423,000)
Dividends	(550,000,000)	(850,000,000)	(750,000,000)
Net cash flows used in financing activities	(572,495,000)	(860,398,000)	(757,423,000)
Increase (decrease) in cash and cash equivalents for the year, net	398,396,000	180,061,000	(44,148,000)
Cash and cash equivalents at beginning of year	689,677,000	509,616,000	553,764,000
Cash and cash equivalents at year-end	1,088,073,000	689,677,000	509,616,000
Transactions with no effects in cash flows:
Changes on the provision for remediation and mine closure	$ 8,167,000	$ 36,885,000	$ (40,425,000)

Consolidated statement of financial position - USD ($)	Dec. 31, 2025	Dec. 31, 2024
Current assets
Cash and cash equivalents	$ 529,839,000	$ 478,435,000
Trade and other receivables	532,463,000	256,602,000
Inventories	75,668,000	79,594,000
Income tax assets	602,000	4,257,000
Prepaid expenses	17,944,000	19,474,000
Total current assets	1,156,516,000	838,362,000
Non-current assets
Trade and other receivables	646,415,000	597,947,000
Investments in associates and joint venture	1,738,408,000	1,548,392,000
Property, plant, equipment and development cost	2,314,432,000	1,889,785,000
Deferred income tax asset	80,740,000	91,677,000
Prepaid expenses	20,376,000	21,262,000
Income tax assets	1,839,000	1,643,000
Other non-financial assets	64,110,000	58,835,000
Total non-current assets	4,866,320,000	4,209,541,000
Total assets	6,022,836,000	5,047,903,000
Current liabilities
Trade and other payables	457,441,000	367,204,000
Financial obligations	8,929,000	9,169,000
Provisions	62,075,000	53,900,000
Current Income tax payable	43,422,000	49,465,000
Contingent consideration liability	4,123,000
Total current liabilities	575,990,000	479,738,000
Non-current liabilities
Trade and other payables	32,897,000	13,116,000
Financial obligations	700,738,000	617,613,000
Provisions	370,528,000	306,400,000
Contingent consideration liability	35,224,000	28,271,000
Deferred income tax liabilities	39,994,000	43,064,000
Total non-current liabilities	1,179,381,000	1,008,464,000
Total liabilities	1,755,371,000	1,488,202,000
Equity
Capital stock	750,497,000	750,497,000
Investment shares	791,000	791,000
Additional paid-in capital	218,450,000	218,450,000
Legal reserve	163,544,000	163,539,000
Other reserves	31,897,000	31,897,000
Other reserves of equity	(96,000)	(96,000)
Retained earnings	2,896,807,000	2,225,611,000
Shareholders' equity attributable to owners of the parent	4,061,890,000	3,390,689,000
Non-controlling interest	205,575,000	169,012,000
Total equity	4,267,465,000	3,559,701,000
Total liabilities and equity	6,022,836,000	5,047,903,000
Sociedad Minera Cerro Verde S.A.A.
Current assets
Cash and cash equivalents	1,088,073,000	689,677,000
Trade accounts receivable, net	298,000	10,000
Trade and other receivables	7,297,000	8,554,000
Trade accounts receivable - Related parties	892,101,000	502,565,000
Other non-financial assets	116,780,000	28,853,000
Inventories	677,136,000	638,868,000
Prepaid expenses	15,951,000	7,314,000
Total current assets	2,797,636,000	1,875,841,000
Non-current assets
Inventories	235,321,000	264,004,000
Property, plant, equipment and development cost	5,755,547,000	5,580,816,000
Intangible assets, net	4,437,000	6,779,000
Prepaid expenses	5,908,000	8,336,000
Other non-financial assets	425,771,000	298,685,000
Total non-current assets	6,426,984,000	6,158,620,000
Total assets	9,224,620,000	8,034,461,000
Current liabilities
Current Income tax payable	157,765,000	88,307,000
Provisions and contingent liabilities	2,536,000	7,011,000
Trade accounts payable	314,064,000	283,807,000
Accounts payable - Related parties	2,879,000	5,623,000
Benefits to employees	126,591,000	107,841,000
Other accounts payable	32,884,000	25,414,000
Other financial liabilities	25,130,000	9,447,000
Total current liabilities	661,849,000	527,450,000
Non-current liabilities
Other financial liabilities	87,208,000	41,176,000
Benefits to employees	7,491,000	3,793,000
Provisions and contingent liabilities	250,507,000	247,427,000
Income tax payable	2,369,000	16,215,000
Deferred income tax liabilities	614,191,000	414,915,000
Total non-current liabilities	961,766,000	723,526,000
Total liabilities	1,623,615,000	1,250,976,000
Equity
Capital stock	990,659,000	990,659,000
Other reserves	198,132,000	198,132,000
Other equity contributions	11,115,000	10,724,000
Retained earnings	6,401,099,000	5,583,970,000
Total equity	7,601,005,000	6,783,485,000
Total liabilities and equity	$ 9,224,620,000	$ 8,034,461,000