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MMG Ltd. (HK:1208)
:1208
Earnings Data
Report Date
Aug 18, 2026TBA (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
0.63Last Year’s EPS
0.22Same Quarter Last Year
Strong Buy
Based on 6 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call emphasizes a strong operational and financial turning point: record revenue, cash flow, EBITDA expansion and marked balance sheet improvement driven by higher metal prices, higher production (notably Las Bambas) and active capital allocation to growth (Khoemacau expansion). Material challenges remain — a USD 290 million impairment at Kinsevere, hedging losses, cobalt quota and DRC power/fiscal uncertainty, modest deterioration in safety metrics, and political risks in Peru — but management provided clear mitigation plans, prioritized sustaining and growth CapEx, and signaled disciplined M&A and governance. Overall the positives (substantial earnings, cash generation, balance sheet repair and clear growth projects) outweigh the negatives.Company Guidance
Record revenue and profit
Full year revenue reached USD 6.22 billion (+39% YoY); net profit after tax ~USD 955–960 million (+161% YoY); net profit attributable to shareholders USD 509 million (up from USD 162 million in 2024).
Strong cash generation and margins
Net operating cash flow ~USD 2.69 billion (+67% YoY); free cash flow >USD 1.6 billion; EBITDA USD 3.4 billion (+67% YoY) with an expanded EBITDA margin of 55%.
Las Bambas performance and distribution
Las Bambas EBITDA USD 2.83 billion (+78% YoY) with a 64% EBITDA margin; throughput and copper recovery >90%; achieved scale effect (~400,000 tpa copper), unit operating costs fell ~26%; Las Bambas JV declared first-ever dividend totaling USD 1.854 billion (MMG share USD 1.159 billion).
Khoemacau growth momentum
Khoemacau EBITDA USD 167 million (+43% YoY); construction of 130,000 tpa expansion commenced (Feb 6, 2026) targeting first half 2028 commissioning; pre-feasibility for potential 200,000 tpa expansion underway with goal of ~200,000 tpa by 2030 and target C1 cost below USD 1.6/lb for expanded capacity.
Zinc and multi-metal contribution
Dugald River produced 183,000 t zinc (+12% YoY), recovery >90% and throughput >2 Mt; Dugald River EBITDA USD 176 million (+4% YoY). Rosebery mine EBITDA USD 168 million (+36% YoY) with mine EBIT >USD 100 million (2.5x 2024) as byproducts (gold/silver/copper) materially improved economics.
Balance sheet improvement
Net debt lowered to ~USD 3.35–3.40 billion (historic low); gearing ratio improved to 33% (down ~8 percentage points); issued USD 500 million zero-coupon convertible bond and completed early debt repayments (including USD 500 million for Khoemacau JV).
Resource base and diversification
Resources (as of 30 June 2025): ~27 million t copper equivalent resources; ~18.6 million t copper resources; geographically diversified across South America, Africa and Australia to reduce single-region exposure.
Planned 2026 investment focused on growth
2026 CapEx guidance USD 1.6–1.7 billion, including ~USD 400 million for Khoemacau expansion and USD 800–850 million targeted for Las Bambas upgrades and sustaining works to protect 400,000 tpa production.
Sustainability and governance progress
Company joined the UN Global Compact (2025); continued community programs (e.g., Corazon de Las Bambas) and established an Innovation & Technology Steering Committee to drive digital/low‑carbon transformation.
HK:1208 Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
HK:1208 Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Mar 03, 2026 | HK$11.03 | HK$10.00 | -9.34% |
Aug 12, 2025 | HK$4.20 | HK$4.22 | +0.48% |
Mar 04, 2025 | HK$2.25 | HK$2.35 | +4.44% |
Aug 13, 2024 | HK$2.34 | HK$2.36 | +0.85% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does MMG Ltd. (HK:1208) report earnings?
MMG Ltd. (HK:1208) is schdueled to report earning on Aug 18, 2026, TBA (Confirmed).
What is MMG Ltd. (HK:1208) earnings time?
MMG Ltd. (HK:1208) earnings time is at Aug 18, 2026, TBA (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is the P/E ratio of MMG Ltd. stock?
The P/E ratio of MMG is N/A.
What is HK:1208 EPS forecast?
HK:1208 EPS forecast for the fiscal quarter 2026 (Q2) is 0.63.