DYNACOR GROUP (DNG) Q1 2026 earnings summary

Executive summary

• Achieved record Q1-2026 results with strong operational and financial performance, driven by stable ore supply, improved recoveries, and higher gold prices.

• Production reached a historical first-quarter high, and expansion projects in Senegal and Ecuador are progressing on schedule.

• CEO succession planned for June 2026, with Daniel Misiano to succeed Jean Martineau.

Financial highlights

• Sales reached $154.1 million in Q1-2026, up from $80.0 million in Q1-2025, driven by higher gold prices and increased sales volume.

• Gross margin was $17.4 million (11.3% of sales), compared to $9.0 million (11.2%) in Q1-2025.

• EBITDA was $13.6 million, including $0.8 million in non-recurring expenses, up from $7.3 million in Q1-2025.

• Net income rose to $7.3 million from $5.1 million year-over-year.

• Operating cash flows before working capital changes were $10.1 million, compared to $5.8 million in Q1-2025.

Outlook and guidance

• 2026 guidance: sales of $530–$580 million, net income of $22–$26 million, production of 125,000–135,000 AuEq ounces, and capital expenditure of $32.5–$39 million.

• Guidance assumes first ore from Senegal and Ecuador plants in 2026, with Svetlana plant in Ecuador ramping up in Q4-2026.