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Sotkamo Silver (SOSI) investor relations material
Sotkamo Silver Q1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Net sales reached a record 186 MSEK in Q1 2026, up 170% year-over-year, driven by higher silver and gold production and prices.
EBITDA rose to 99 MSEK from -8 MSEK, with a margin of 53%, and EBIT improved to 89 MSEK from -24 MSEK.
Cash and cash equivalents increased by 61 MSEK to 74 MSEK, reflecting strong operating cash flow.
New mining contractor commenced in January 2026, supporting operational ramp-up and production growth.
Financial position strengthened, enabling accelerated investments and mine development.
Financial highlights
Net sales: 186 MSEK (Q1 2026) vs. 69 MSEK (Q1 2025), +170%.
EBITDA: 99 MSEK vs. -8 MSEK; EBITDA margin: 53.2%.
EBIT: 89 MSEK vs. -24 MSEK; EBIT margin: 47.8%.
Net income: 26.6 MSEK vs. -39.7 MSEK.
Cash flow from operations: 75.8 MSEK; CAPEX: 16 MSEK.
Outlook and guidance
2026 guidance: Silver production expected at 0.9–1.2 million ounces; annual EBITDA over 25 MEUR.
Net debt-to-EBITDA expected below 1.0 at year-end.
Medium-term targets (by 2028): 1.4 million ounces silver/year, EBITDA margin >30%, net debt-to-EBITDA <2.0.
Profitability sensitive to metal prices, exchange rates, ore volumes, and grades.
- Q4 2025 saw strong profit growth and a positive 2026 outlook on higher silver prices.SOSI
Q4 202520 Feb 2026 - Q3 2025 profitability rose on higher silver prices, but liquidity risks remain.SOSI
Q3 202523 Oct 2025 - Lower sales and profit drive revised guidance, but refinancing and exploration support recovery.SOSI
Q2 202531 Jul 2025 - Restored profitability in Q3 2024 with EBITDA margin at 44% and strong cash flow.SOSI
Q3 202413 Jun 2025 - Q2 net sales dropped 13% year-over-year, but higher silver prices offset lower grades.SOSI
Q2 202413 Jun 2025 - Silver production and earnings declined sharply amid mining issues, but 2025 guidance is reaffirmed.SOSI
Q1 20256 Jun 2025 - EBITDA and output fell in 2024, but 2025 targets higher production and margin recovery.SOSI
Q4 20245 Jun 2025
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Next Sotkamo Silver earnings date
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