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Santacruz Silver Mining (TSXV: SCZ) Q1 Revenue Up 34%; Net Income Declines on One-Time Gain
Highlights
Santacruz Silver Mining Ltd. (TSXV: SCZ; OTCQB: SCZMF; FSE: 1SZ) has reported its financial and operating results for the first quarter ended March 31, 2025, delivering higher revenues and earnings before interest, tax, depreciation and amortization (EBITDA), though silver output and net income declined compared to the prior year.
In the first quarter of financial year 2025 (Q1FY25) the company’s total revenue for the quarter rose 34% YoY to CAD 70.3 million, up from CAD 52.4 million in Q1FY24, supported by improved pricing and continued operational efficiency across its assets in Mexico and Bolivia. Gross profit reached CAD 27.9 million, a significant increase from CAD 0.4 million in the same period last year, while adjusted EBITDA rose sharply to CAD 27.5 million from CAD 1.2 million.
Despite these gains, net income declined by 93% YoY to CAD 9.5 million. The prior year’s comparative period had included an extraordinary gain related to a fair value adjustment in the consideration payable, which did not recur this quarter. Cash and cash equivalents at quarter-end totalled CAD 32.5 million, reflecting a 706% increase year-over-year. Working capital improved substantially to CAD 51.7 million, compared with CAD 0.7 million in Q1FY24.
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