First Majestic Announces Record Free Cash Flow for Q4 2024,
(...)
Vancouver, BC, Canada - First Majestic Silver Corp. (...)
is pleased to announce the Company’s audited consolidated financial results for the fourth quarter ended December
31, 2024. The full version of the financial statements and the accompanying management’s discussion and analysis
can be viewed on the Company’s website at
www.firstmajestic.com or under the Company’s profile on (...). All amounts are in U.S. dollars unless stated otherwise.
FOURTH QUARTER HIGHLIGHTS
• Record Free Cash Flow (+119% Q/Q): The Company realized $68.4 million in free cash flow in the fourth
quarter, compared to $31.3 million in the previous quarter. The improvement in free cash flow was driven by
improved silver equivalent (“AgEq”) production, higher realized silver prices and lower costs during the
quarter.
• Strengthened Cash Position (+19% Q/Q): At the end of the year, the Company had a cash and restricted cash
balance of $308.3 million consisting of $202.2 million cash and cash equivalents and $106.1 million of
restricted cash. The Company also ended the year with a strong liquidity position of $364.2 million consisting
of $224.5 million in working capital and $139.6 million of available, undrawn revolving credit facility.
• Increased Revenue (+18% Q/Q): In the fourth quarter, the Company generated revenues of $172.3 million,
up 18% compared to the third quarter of 2024.
• Improved Mine Operating Earnings (+69% Q/Q): The Company realized mine operating earnings of $48.2
million compared to $28.5 million in the previous quarter.
• Increased Earnings Before Income Tax, Depreciation and Amortization (“EBITDA”) (+68% Q/Q): EBITDA for
the quarter was $62.0 million compared to $36.9 million in the previous quarter.
• Improved Cash Cost (-9% Q/Q): Consolidated cash cost of $13.82 per AgEq ounce for the quarter represented
a 9% improvement from $15.17 per AgEq ounce in the previous quarter.
