Burgundy Diamond Mines (BDM) H2 2025 earnings summary

Executive summary

• Revenue declined 58% year-over-year to $186.2 million, mainly due to lower carats recovered and pricing, following the temporary suspension of Point Lake mining and adverse diamond market conditions, including US-India tariffs.

• Net loss after tax improved to $86.8 million from $103.2 million in the prior year, with the prior year loss driven by a $151.6 million impairment at Ekati Diamond Mine.

• Cash position at year-end was $26.6 million, up from $25.1 million, supported by $42.6 million cash from operations and $38.1 million from financing activities.

• No dividends were paid or declared for the year.

Financial highlights

• Revenue: $186.2 million (down 58% year-over-year).

• Net loss after tax: $86.8 million (improved by 16% year-over-year).

• Basic and diluted loss per share: (6.11) cents, compared to (7.26) cents in the prior year.

• Gross margin: $(67.4) million, compared to $66.3 million in the prior year.

• Cash generated from operations: $42.6 million.

• Capital expenditures: $89.8 million.

Outlook and guidance

• Ongoing liquidity challenges due to continued adverse impact of US tariffs and production delays.

• Additional funding via debt or equity may be required to meet obligations over the next 12 months.

• Cost rationalization measures underway, including postponing or pausing non-critical projects.