Eduardo Landin
Okay. Good morning, everyone. Welcome to Hochschild financial presentation 2025 results. We have very good news today. Let me go to, first of all, the disclaimer, and that’s the basically takeaways. As I said, 2025 has been a very good year with the strongest ever financials. We produced 311,000 ounces. The revenue went up 28%. The EBITDA went up 39%, up to nearly $600 million.
Our attributable all-in sustaining cash cost was $2,138 per ounce, and we end up the year with $317 million in cash. Our net debt was $23 million. Dividend is going to be 5p. And we have had a significant amount of resources, 1.7 million ounces gold equivalent, especially at Inmaculada and also at Royropata. What’s going on in 2026? I mean we will continue developing our projects. Mara Rosa, all the turnaround project is on track. The management transition is also complete. We have a new COO in place, and he’s choosing his team in Brazil. Royropata MEIA is on schedule. I mean, we have been working with Ausenco to make sure that the document will be ready in July to be presented to the new government in Peru. As you know, we have elections.
Then, of course, we will continue with the non-core assets to be monetized. And strong ESG metrics continue, especially I’m very — I feel very proud by our safety performance. We closed the year with 0.97 frequency rate. And also Tiernan Gold and Aclara is — I mean, we did the RTO and Aclara continue with the permitting processes in Brazil and in Chile and also working on the vertical integration.
If we
