Avino Silver & Gold Mines Ltd. (ASM: TSX/NYSE American; FSE: GV6) a long-standing silver producer in Mexico, announces its audited consolidated financial results for the fourth quarter and year ended December 31, 2024. All amounts are in U.S. dollars unless stated otherwise.

Fourth Quarter 2024 Financial Highlights (compared to Q4 2023)

Record Revenues: The Company realized revenues of $24.4 million, an increase of 95%, driven by increased production and higher realized silver and gold prices in the quarter.
Record Gross Profit: Gross profit, or mine operating income, was $10.5 million and represented an increase of 308%. The significant improvement was a result of items noted related to revenues, as well as meaningful unit cost reductions and currency movements between the US dollar and Mexican Peso.
Record Cash Flow Generation: The Avino Mine delivered cash provided by operating activities of $15.6 million, up over 2,000%, as well as mine operating cash flows before taxes3 of $11.9 million, up 230%.
Record Earnings and Adjusted Earnings: The Company realized net income of $5.1 million, or $0.03 per share, up 804%, and adjusted earnings3 of $10 million, or $0.07 per share, an increase of 405%. Earnings before interest, taxes, depreciation and amortization (“EBITDA”)3 was $9.1 million, up 712%
Improved Costs per Ounce Metrics: Cash costs per silver equivalent payable ounce sold1,2,3 was $13.88 and all-in sustaining cash costs per silver equivalent payable ounce sold1,2,3 was $18.62, down 8% and 14%, respectively.
Full Year 2024 Financial Highlights (compared to FY 2023)

All-Time High in Cash Strength: Cash balance of $27.3 million, an increase of 916%. This represents the highest balance in the Company’s history and positions the Company to execute on its organic growth plans.
Record Revenues: The Company realized revenues of $66.1 million, an increase of 51%, driven by improved production and sales volumes, as well as higher realized metal prices in 2024
Record Gross Profit: Gross profit, or mine operating income, was $23.2 million and represented an increase of 197%.
Record Earnings and Adjusted Earnings: The Company realized net income of $8.1 million, or $0.06 per share, with adjusted earnings3 up 364% at $21.3 million, or $0.15 per share. EBITDA3 rose significantly and was $18 million, up 620%.
Record Cash Flow Generation: The Avino Mine delivered cash provided by operating activities of $23.1 million, up over 1400%. Mine operating cash flow before taxes3 of $27.6 million, an increase of 150%
Improved Costs per Ounce Metrics: Cash costs per silver equivalent payable ounce sold1,2,3 came in at $14.84, down 5% and all-in sustaining cash costs per silver equivalent payable ounce sold1,2,3 was $20.57, down 6%.
“In the fourth quarter, we delivered record financial performance driven by higher metal prices and increased production from our Avino Mine,” said Nathan Harte, Chief Financial Officer. “With records set in revenues and cash flow generation, our operating margins further strengthened our debt-free balance sheet to record highs. On the cost side, our operating costs decreased and further increased margins, allowing record free-cash flow generation. Our focus continues to be on growth and delivering additional value to our shareholders through disciplined and organic growth as outlined in our 5-year plan. With over $27 million in cash to close out the year, we are well-positioned for the future.”

“Avino delivered an outstanding performance in 2024, achieving record financial results, strong operational execution, and benefiting from a supportive market environment,” said David Wolfin, President and CEO. “The Company posted record revenues and significant growth across key financial metrics, reflecting higher production, cost efficiencies, and strong metal prices. Our record-breaking year would not have been possible without the dedication, expertise, and hard work of our operational teams and employees across the company. Their commitment to excellence, teamwork, and innovation has been instrumental in achieving these milestones. On behalf of our leadership, thank you for your efforts and contributions—your work continues to drive Avino’s success. With a solid financial foundation, strong operational performance, and positive market trends, Avino is well-positioned for continued growth and value creation in 2025 and beyond.”

Financial Highlights go for more to
https://avino.com/news/2025/avino-achieves-record-financial-performance-for-2024-improvements-across-key-financial-metrics-treasury-at-all-time-high/