Central Asia Metals plc Q2 2026 Earnings Recap

The 4.1% post-earnings stock jump reflects a solid beat driven primarily by robust revenue and EBITDA growth supported by favorable commodity prices and strong operational performance.

Key Takeaways

• Revenue increased to $145.5 million from just under $100 million in H1 2025, driven by a 39% higher copper price and 26% higher zinc prices.
• EBITDA nearly doubled to $75.5 million with a margin of 52%, reflecting improved profitability.
• Production modestly increased: copper output up 1% despite adverse weather, zinc up 5%, and lead up 6% at the Sasa mine.
• Treatment charges fell significantly by $2.2 million to $2.7 million, helped by locked-in negative lead treatment charges.
• Cash flow of $46.8 million supported an 8p dividend payout (40% of free cash flow) and left $97.2 million cash on hand, maintaining a strong balance sheet for growth investments.