Volcan Compañía Minera S.A.A. and Subsidiaries
Consolidated interim financial information (unaudited) as of
December 31, 2021 and 2020
Firmado Digitalmente por:
PEDRO JOSE OLORTEGUI PEREA
Fecha: 15/02/2022 09:19:12 p.m.
Volcan Compañía Minera S.A.A. and Subsidiaries
Consolidated Statement of Financial Position
As of December 31, 2021 (unaudited) and as of December 31, 2020 (audited)
December 31, | December 31, | ||
Note | 2021 | 2020 | |
US$(000) | US$(000) | ||
Assets | |||
Current Assets | |||
Cash and cash equivalents | 4 | 231,187 | 114,646 |
Accounts receivable Trade, net | 22,919 | 16,244 | |
Accounts receivable from subsidiaries and affiliates | 20,887 | 12,537 | |
Accounts receivable Others | 55,971 | 89,033 | |
Other financial assets | 6 | - | 223 |
Inventories, net | 5 | 59,824 | 60,961 |
Total current assets | 390,788 | 293,644 | |
Non-current Assets | |||
Other accounts receivable | 17,445 | 9,477 | |
Financial investments | 187,751 | 195,346 | |
Property, plant and equipment, net | 7 | 756,519 | 772,063 |
Assets by right of use | 8 | 4,385 | 4,285 |
Mining exploration and evaluation cost, net | 9 | 801,983 | 790,553 |
Inventories, net | 5 | 6,642 | 7,077 |
Total non-current assets | 1,774,725 | 1,778,801 | |
Total assets | 2,165,513 | 2,072,445 | |
Liabilities and Net Stockholders' Equity | |||
Current Liabilities | |||
Overdrafts | 1,168 | 10,070 | |
Financial obligations | 10 | 451,144 | 37,179 |
Trade accounts payable | 229,693 | 222,640 | |
Other accounts payable | 70,688 | 65,883 | |
Other financial liabilities | 6 | 2,241 | 15,107 |
Total current liabilities | 754,934 | 350,879 | |
Non-current Liabilities | |||
Financial obligations | 10 | 485,311 | 888,118 |
Other accounts payable | 6,400 | - | |
Provision for closing of mining units and communities | 231,636 | 196,439 | |
Deferred income tax liability | 11 | 199,831 | 187,277 |
Provision for contingencies | 30,734 | 32,811 | |
Total non-current liabilities | 953,912 | 1,304,645 | |
Total liabilities | 1,708,846 | 1,655,524 | |
Equity | |||
Issued capital | 12 | 1,134,300 | 1,134,300 |
Treasury stock | (60,934) | (60,930) | |
Other capital reserves | 10,695 | 11,755 | |
Capital reserve | (173,234) | (173,231) | |
Unrealized gains (loss) | (9,504) | (9,265) | |
Retained earnings | (444,656) | (485,708) | |
Total net stockholders' equity | 456,667 | 416,921 | |
Total liabilities and net stockholders' equity, net | 2,165,513 | 2,072,445 |
The accompanying notes are an integral part of this statement.
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Volcan Compañía Minera S.A.A. and Subsidiaries
Consolidated Income Statement (unaudited)
For the period from January 1, to December 31, 2021 and 2020
For the period from October | For the cumulative period | ||||||
from January 1 | |||||||
1 to December 31 | to December 31 | ||||||
2021 | 2020 | 2021 | 2020 | ||||
US$(000) | US$(000) | US$(000) | US$(000) | ||||
Sales, Note 13 | 274,387 | 179,914 | 937,399 | 535,469 | |||
Cost of Sales, Note 14 | (178,627) | (159,165) | (656,031) | (513,266) | |||
Gross Income | 95,760 | 20,749 | 281,368 | 22,203 | |||
Operating income (expenses) | |||||||
Administrative expenses | (20,674) | (13,969) | (57,680) | (40,752) | |||
Selling expenses | (6,945) | (4,621) | (21,125) | (15,435) | |||
Other income | 13,320 | 18,332 | 43,611 | 46,907 | |||
Other expenses | (43,590) | (87,065) | (93,975) | (108,006) | |||
(57,889) | (87,323) | (129,169) | (117,286) | ||||
Operating income | 37,871 | (66,574) | 152,199 | (95,083) | |||
Financial income (expenses) | |||||||
Financial income, Note 15 | 422 | 206 | 1,138 | 1,820 | |||
Financial expenses, Note 15 | (13,321) | (15,000) | (61,591) | (50,833) | |||
Exchange difference, net | 11,404 | (440) | 2,041 | (5,640) | |||
Total other income (expenses), net | (1,495) | (15,234) | (58,412) | (54,653) | |||
Income before income tax | 36,376 | (81,808) | 93,787 | (149,736) | |||
Income tax, Note 11 (b) | (15,101) | 1,052 | (53,913) | (706) | |||
Net income | 21,275 | (80,756) | 39,874 | (150,442) | |||
Net earnings per share | 0.006 | (0.021) | 0.010 | (0.039) | |||
Weighted average of outstanding shares (in | |||||||
3,857,594 | 3,857,598 | 3,857,594 | 3,857,598 | ||||
thousands) | |||||||
The accompanying notes are an integral part of this statement.
3
Volcan Compañía Minera S.A.A. and Subsidiaries
Consolidated Statement of Comprehensive Income (unaudited)
For the period from January 1 to December 31, 2021 and 2020
Net income
Others comprehensive income (loss): Net change in gains (losses) unrealized on derivate instruments and Financial investments Income tax
Other comprehesive income (loss) net of income tax Total comprehesive income
For the cumulative | For the cumulative | ||
period from October | period from January 1 | ||
1 to December 30 | to December 30 | ||
2021 | 2020 | 2021 | 2020 |
US$(000) | US$(000) | US$(000) | US$(000) |
21,275 | (80,756) | 39,874 | (150,442) |
302 | (2,516) | (339) | (4,748) |
(89) | 742 | 100 | 1,401 |
213 | (1,774) | (239) | (3,347) |
21,488 | (82,530) | 39,635 | (153,789) |
The accompanying notes are an integral part of this statement.
4
Volcan Compañía Minera S.A.A. and Subsidiaries
Statement of changes in the Net Stockholders' Equity (unaudited)
For the period from January 1 to December 31, 2021 and 2020
Capital Issued | Treasury stock | Other capital | Capital reserve | Unrealized | Retained | Total | |
reserves | gains (loss) | earnings | |||||
US$(000) | US$(000) | US$(000) | US$(000) | US$(000) | US$(000) | US$(000) | |
Balances as of January 1, 2020 | 1,134,300 | (60,926) | 11,755 | (173,217) | (5,918) | (335,265) | 570,729 |
- | - | - | - | - | - | - | |
Results integrals | |||||||
Net Income of year | - | - | - | - | - | (150,442) | (150,442) |
Other results integrals of year | - | - | - | - | (3,347) | - | (3,347) |
Total results integrals of year | - | - | - | - | (3,347) | (150,442) | (153,789) |
Others | - | (4) | - | (14) | - | (1) | (19) |
Balances as of December 31, 2020 | 1,134,300 | (60,930) | 11,755 | (173,231) | (9,265) | (485,708) | 416,921 |
Balances as of January 1, 2021 | 1,134,300 | (60,930) | 11,755 | (173,231) | (9,265) | (485,708) | 416,921 |
Results integrals | |||||||
Net loss of year | - | - | - | - | - | 39,874 | 39,874 |
Reserva Legal | - | - | (1,060) | - | - | 1,060 | - |
Other results integrals of year | - | - | - | - | (239) | - | (239) |
Total results integrals of year | - | - | (1,060) | - | (239) | 40,934 | 39,635 |
Others | - | (4) | - | (3) | - | 118 | 111 |
Balances as of December 31, 2021 | 1,134,300 | (60,934) | 10,695 | (173,234) | (9,504) | (444,656) | 456,667 |
The accompanying notes are an integral part of this statement.
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Volcan Compañia Minera SAA published this content on 16 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 February 2022 03:53:05 UTC.