China Molybdenum ( (CMCLF) ) has released its Q4 earnings. Here is a breakdown of the information China Molybdenum presented to its investors.
China Molybdenum, a prominent player in the non-ferrous metals industry, specializes in the mining and processing of metals such as copper, cobalt, niobium, and phosphate. The company has a significant presence in the Democratic Republic of Congo (DRC) and Brazil. In its latest earnings report for 2024, China Molybdenum reported a substantial increase in revenue and net profit, driven by record-high production volumes and strategic management. The company’s revenue reached RMB 213.029 billion, marking a 14.37% year-on-year increase, while net profit attributable to the parent company soared by 64.03% to RMB 13.532 billion. The company also achieved a notable reduction in its gearing ratio, which decreased by 8.88 percentage points to 49.52%. Key highlights include China Molybdenum’s entry into the top ten global copper producers, with a 55% increase in copper production, and a 106% increase in cobalt production. The company also made significant strides in ESG performance, maintaining an AA rating in MSCI ESG performance and being included in FTSE Russell’s Socially Responsible Indexes. Looking ahead, China Molybdenum is poised for further growth with plans for production expansion and continued focus on sustainable development, aiming to strengthen its position as a leading global resources company.