Atalaya reports record quarterly, half-year EBITDA

(Sharecast News) - Atalaya Mining posted record quarterly and half-year EBITDA for the first half of 2025 on Tuesday, supported by higher copper output, lower costs and strong free cash flow, prompting the company to raise its full-year production and cost guidance. For the three months ended 30 June, copper production rose to 13.2kt from 11.6kt a year earlier, while half-year output reached 27.5kt.

Improved grades and strong plant performance helped reduce all-in sustaining costs to $2.81 per pound in the quarter from $3.20 per pound, with the half-year figure down to $2.78 per pound.

Second-quarter revenue climbed to €124.1m from €92.2m, driving EBITDA to a record €55.1m, more than double the prior year.

Net profit for the quarter rose to €29.6m from €14.5m.

The FTSE 250 company ended June with net cash of €70.1m, up from €53.4m a year earlier, and declared an interim dividend of €0.044 per share.

Cash flow from operations in the first half totalled €78.3m, offset by €41.8m of investment spending on growth projects.

"Good production and cost control have resulted in quarterly and half year records for EBITDA, and our net cash position has further improved thanks to strong free cash flow generation," said chief executive Alberto Lavandeira.

"As a result, our board has declared an interim dividend of 4.4 euro cents per share.

"Given the performance in 2025 so far, we are also pleased to announce positive revisions to our production and unit cost guidance."

Atalaya reported increased activity across its Spanish growth projects.

At San Dionisio, mining has accelerated following environmental approval in May, while recent drilling at Masa Valverde has confirmed high-grade copper zones earmarked for initial development.

Atalaya added that at Touro, feedback from administrative bodies on its environmental review had been positive, with a decision expected in the coming months.

The miner said it expected to deliver further strong operational performance in the second half alongside progress on its growth pipeline.

At 1217 BST, shares in Atalaya Mining Copper were up 6.28% at 508p.

Reporting by Josh White for Sharecast.com.