Alphamin Resources (APH) Q2 2025 earnings summary

Executive summary

• Q2 2025 tin production reached 4,106 tonnes after a phased restart in April, with sales of 4,587 tonnes, clearing a Q1 backlog.

• EBITDA for Q2 2025 was $75 million, up 21% sequentially, driven by higher sales volumes.

• Net cash improved to $50 million at June 30, 2025, from a net debt position of $2 million in the prior quarter.

• Interim FY2025 dividend of CAD $0.07 per share (approx. $65 million) declared, payable September 2025.

• Operations were temporarily halted in March 2025 due to regional security concerns but resumed in April.

Financial highlights

• Revenue for Q2 2025 was $144.2 million, a 39% increase year-over-year.

• Gross profit for Q2 2025 was $67.3 million, up 32% year-over-year.

• Net income for Q2 2025 was $38.0 million, a 69% increase from Q2 2024.

• H1 2025 revenue totaled $264.7 million, up from $213.2 million in H1 2024.

• H1 2025 net income was $66.4 million, compared to $47.4 million in H1 2024.

Outlook and guidance

• FY2025 production guidance reduced from 20,000 to 17,500 tonnes due to the Q1 security-related stoppage.

• Exploration activities to increase in H2 2025, with additional rigs mobilized.

• Dividend distributions to continue semi-annually, subject to cash availability and market conditions.

• Capital expenditures expected to be lower in 2025 as expansion projects are complete; exploration spend to rise.