Silver Wheaton Reports Record Silver Equivalent Output for 2015

Resource Investing News

Silver Wheaton Corp. (TSX:SLW,NYSE:SLW) released its results for Q4 2015, as well as the full 2015 year, commenting that in 2015 it incurred a net loss of $162 million, or $0.41 per share.

Silver Wheaton Corp. (TSX:SLW,NYSE:SLW) released its results for Q4 2015, as well as the full 2015 year, commenting that in 2015 it incurred a net loss of $162 million, or $0.41 per share; that includes the after-tax impact of impairment charges and is compared to net earnings of $199.8 million, or $0.56 per share, in 2014.
The company also said that it achieved record attributable silver equivalent production of 47.7 million ounces for the year. That’s an increase of 35 percent from 2014.
Other 2015 highlights include:

Record silver equivalent sales volume for the year ended December 31, 2015 of 41.6 million ounces (26.6 million ounces of silver and 202,300 ounces of gold), compared with 32.9 million ounces in 2014, representing an increase of 26%.
Revenues of $648.7 million for the year ended December 31, 2015 compared with $620.2 million in 2014, representing an increase of 5%.
Average realized sale price per silver equivalent ounce sold for the year ended December 31, 2015 of $15.60 ($15.64 per ounce of silver and $1,152per ounce of gold), representing a decrease of 17% as compared with 2014.
Adjusted net earnings² of $210.4 million ($0.53 per share) for the year ended December 31, 2015 compared with $268.0 million ($0.75 per share) in 2014, representing a decrease of 22%.
During the year ended December 31, 2015, the Company recognized impairment charges of $384.9 million related to certain of its silver and gold interests.
Operating cash flows of $431.4 million ($1.09 per share²) for the year ended December 31, 2015, virtually unchanged from the operating cash flows of$431.9 million ($1.20 per share²) in 2014.
Cash operating margin² of $11.02 per silver equivalent ounce for the year ended December 31, 2015 compared with $14.27 in 2014, representing a decrease of 23%.
Average cash costs² were $4.17 and $393 per ounce of silver and gold, respectively. On a silver equivalent basis, average cash costs² decreased to$4.58 compared with $4.59 in 2014.