Financials Agnico Eagle Mines Limited

Equities

AEM

CA0084741085

Gold

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119.88 ^USD	+1.46%		-0.15%	+53.28%

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Projected Income Statement: Agnico Eagle Mines Limited

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	3,138	3,824	5,741	6,627	8,286	10,626	10,933	10,474
Change	-	21.85%	50.14%	15.43%	25.03%	28.25%	2.89%	-4.2%
EBITDA ¹	1,484	1,773	2,606	3,269	4,694	6,811	6,956	6,371
Change	-	19.44%	47%	25.46%	43.57%	45.11%	2.12%	-8.41%
EBIT ¹	853.1	1,035	1,511	1,778	3,259	5,440	5,715	5,296
Change	-	21.27%	46.07%	17.63%	83.31%	66.94%	5.06%	-7.33%
Interest Paid ¹	-95.13	-92.04	-82.94	-130.1	-126.7	-88.17	-72.83	-60.57
Earnings before Tax (EBT) ¹	767.6	903.4	1,115	2,359	2,822	5,220	5,315	5,214
Change	-	17.7%	23.47%	111.5%	19.6%	85.01%	1.83%	-1.9%
Net income ¹	511.6	543	670.2	1,941	1,896	3,421	3,525	3,292
Change	-	6.14%	23.43%	189.64%	-2.36%	80.47%	3.05%	-6.62%
Announcement Date	2/11/21	2/23/22	2/16/23	2/15/24	2/13/25	-	-	-

¹USD in Million

Estimates

Fiscal Period: December	2020 Q2	2020 Q3	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4	2027 Q1
Net sales ¹	557.2	980.6	928.4	934.4	966.3	974.1	949.1	1,326	1,581	1,450	1,385	1,510	1,718	1,642	1,757	1,830	2,077	2,156	2,224	2,468	2,689	2,817	2,868	2,642	3,005	3,091	3,006	2,884
Change	-	76%	-5.32%	0.64%	3.42%	0.8%	-2.56%	39.68%	19.26%	-8.31%	-4.48%	9.02%	13.81%	-4.41%	6.95%	4.17%	13.49%	3.8%	3.16%	11%	8.95%	4.76%	1.82%	-7.91%	13.76%	2.87%	-2.74%	-4.07%
EBITDA ¹	236.9	511	480.7	448.4	467.9	448.5	407.9	530.6	803.8	679.2	592.3	754.5	873.2	782.5	859.2	929.3	1,176	1,257	1,332	1,590	1,780	1,795	1,783	1,688	1,986	2,050	2,004	1,805
Change	-	115.72%	-5.94%	-6.72%	4.36%	-4.14%	-9.05%	30.07%	51.5%	-15.51%	-12.78%	27.38%	15.73%	-10.39%	9.8%	8.16%	26.57%	6.83%	5.98%	19.39%	11.96%	0.84%	-0.66%	-5.32%	17.61%	3.26%	-2.26%	-9.91%
EBIT ¹	107.4	337.9	305.7	267.2	292.6	256.1	216.3	269.8	512.7	406	322.6	450.6	491.9	367.5	467.6	589.7	822.2	872.9	973.8	1,181	1,434	1,520	1,581	1,357	1,649	1,727	1,633	1,517
Change	-	214.48%	-9.52%	-12.59%	9.48%	-12.46%	-15.55%	24.74%	90.03%	-20.82%	-20.53%	39.66%	9.18%	-25.3%	27.25%	26.1%	39.43%	6.17%	11.56%	21.3%	21.37%	6.05%	4%	-14.15%	21.47%	4.71%	-5.4%	-7.15%
Charge d'intérêts ¹	-	-	-20.93	-22.17	-23.26	-22.78	-23.83	-22.65	-20.96	-	-	-23.45	-35.84	-35.7	-35.1	-36.26	-34.47	-28.53	-27.47	-22.44	-36	-19	-35	-	-	-	-	-
Earnings before Tax (EBT) ¹	117.6	-	294	229.6	282.2	200.4	188.8	174.6	435.7	226.3	278.9	1,945	466.3	271.3	-324.1	-	710.2	839.8	782.5	1,195	1,386	1,437	1,449	1,334	1,628	1,707	1,617	1,504
Change	-	-	-	-21.91%	22.94%	-28.98%	-5.79%	-7.55%	149.58%	-48.06%	23.24%	597.61%	-76.03%	-41.82%	-219.45%	-	-	18.25%	-6.82%	52.66%	16%	3.67%	0.87%	-7.94%	22.05%	4.86%	-5.27%	-7%
Net income ¹	-	222.7	205.2	136.1	189.6	114.5	101.1	109.8	-	-	-	1,817	326.8	178.6	-381	347.2	472	567.1	509.3	814.7	914.3	1,008	1,035	993.6	1,056	1,109	1,049	974.7
Change	-	-	-7.83%	-33.66%	39.23%	-39.61%	-11.68%	8.55%	-	-	-	-	-82.01%	-45.35%	-313.32%	191.12%	35.95%	20.15%	-10.2%	59.98%	12.22%	10.26%	2.65%	-3.98%	6.23%	5.08%	-5.39%	-7.12%
Announcement Date	7/29/20	10/28/20	2/11/21	4/29/21	7/28/21	10/27/21	2/23/22	4/28/22	7/27/22	10/26/22	2/16/23	4/27/23	7/26/23	10/25/23	2/15/24	4/25/24	7/31/24	10/30/24	2/13/25	4/24/25	-	-	-	-	-	-	-	-

¹USD in Million

Estimates

Forecast Balance Sheet: Agnico Eagle Mines Limited

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	1,279	1,154	683	1,505	217	-1,881	-4,215	-6,328
Change	-	-9.77%	-40.81%	120.35%	-85.58%	-968.72%	-124.08%	-50.13%
Announcement Date	2/11/21	2/23/22	2/16/23	2/15/24	2/13/25	-	-	-

¹USD in Million

Estimates

Cash Flow Forecast: Agnico Eagle Mines Limited

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
CAPEX ¹	759.3	867.7	1,538	1,654	1,818	2,096	1,939	2,039
Change	-	14.27%	77.28%	7.53%	9.9%	15.28%	-7.48%	5.18%
Free Cash Flow (FCF) ¹	432.7	448.3	558.4	947.4	2,143	2,934	3,331	3,024
Change	-	3.6%	24.56%	69.67%	126.18%	36.92%	13.54%	-9.23%
Announcement Date	2/11/21	2/23/22	2/16/23	2/15/24	2/13/25	-	-	-

¹USD in Million

Estimates

Forecast Financial Ratios: Agnico Eagle Mines Limited

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	47.3%	46.36%	45.39%	49.34%	56.65%	64.1%	63.62%	60.83%
EBIT Margin (%)	27.18%	27.05%	26.32%	26.82%	39.33%	51.19%	52.27%	50.57%
EBT Margin (%)	24.46%	23.63%	19.43%	35.6%	34.05%	49.12%	48.62%	49.78%
Net margin (%)	16.3%	14.2%	11.67%	29.29%	22.88%	32.19%	32.24%	31.43%
FCF margin (%)	13.79%	11.72%	9.73%	14.3%	25.86%	27.61%	30.47%	28.87%
FCF / Net Income (%)	84.58%	82.56%	83.31%	48.8%	113.05%	85.77%	94.5%	91.85%
Profitability
ROA	5.56%	5.93%	-	4.2%	6.46%	11.4%	11.25%	9.5%
ROE	9.48%	10.07%	6.03%	6.15%	9.42%	15.59%	14.22%	12.65%
Financial Health
Leverage (Debt/EBITDA)	0.86x	0.65x	0.26x	0.46x	0.05x	-	-	-
Debt / Free cash flow	2.96x	2.58x	1.22x	1.59x	0.1x	-	-	-
Capital Intensity
CAPEX / Current Assets (%)	24.2%	22.69%	26.79%	24.96%	21.94%	19.72%	17.73%	19.47%
CAPEX / EBITDA (%)	51.16%	48.95%	59.03%	50.59%	38.73%	30.77%	27.88%	32.01%
CAPEX / FCF (%)	175.48%	193.55%	275.47%	174.59%	84.83%	71.42%	58.2%	67.45%
Items per share
Cash flow per share ¹	4.904	5.377	4.781	5.31	7.908	10.15	10.46	9.064
Change	-	9.65%	-11.09%	11.06%	48.93%	28.37%	2.99%	-13.31%
Dividend per Share ¹	1.1	1.4	1.6	1.6	1.6	1.459	1.492	1.456
Change	-	27.27%	14.29%	0%	0%	-8.81%	2.27%	-2.41%
Book Value Per Share ¹	23.53	24.54	35.58	-	41.52	46.81	52.28	56.76
Change	-	4.29%	44.98%	-	-	12.73%	11.68%	8.57%
EPS ¹	2.1	2.22	1.53	3.95	3.78	6.814	6.961	6.602
Change	-	5.71%	-31.08%	158.17%	-4.3%	80.26%	2.16%	-5.15%
Nbr of stocks (in thousands)	242,276	244,322	455,045	496,082	500,536	502,575	502,575	502,575
Announcement Date	2/11/21	2/23/22	2/16/23	2/15/24	2/13/25	-	-	-