TECK Latest Report

Financial Performance

TECK Resources' total operating revenue reached US$2.786 billion as of December 31, 2024, up 50.00% from US$1.843 billion as of December 31, 2023. This growth indicates a significant improvement in the company's operating revenue, possibly due to increased demand, higher product prices, or the launch of new products. Sales costs increased from US$1.691 billion to US$2.244 billion, but the company maintained its profit level through operational efficiency and cost control.

Key Financial Data

1. Operating revenue reached US$2.786 billion in 2024, up 50.00% YoY

2. Sales costs rose to US$2.244 billion, up 32.80% YoY

3. Copper production increased from 65.4 tons in Q4 2023 to an estimated 465-540 tons in 2024

4. Zinc production is estimated to be between 565-630 tons, and the annual production of metallurgical coal is expected to be 24-26 million tons

Peer Comparison

1. Industry-wide analysis: The overall revenue growth trend in the mining industry is closely related to the global economic recovery and increased infrastructure investment. According to industry reports, the revenue of the mining industry generally increased in 2024, especially in the metal sector, with many companies reporting significant revenue growth.

2. Peer evaluation analysis: TECK Resources' revenue growth rate of 50.00% is relatively strong. Many peers' revenue growth in 2024 is generally between 30%-40%, so TECK Resources' performance shows its competitiveness and growth potential in the market.

Summary

TECK Resources' significant revenue growth reflects its competitiveness and potential in the market, especially the strong demand for copper and zinc and the rising global metal prices that drive revenue growth. However, the increase in sales costs also suggests that the company needs to continue to focus on cost control to maintain its profit level.

Opportunities

1. With the continuous increase in global demand for copper and zinc, TECK Resources is expected to benefit from market growth.

2. The expansion of new projects (such as the Quebrada Blanca copper mine) will enhance the company's competitiveness in the global market.

3. HSBC's investment in the Highland Valley copper mine extends its production life, helping to ensure stable future production.

Risks

1. Although demand is strong, the demand and prices of copper and zinc still have uncertainties that may affect the stable growth of operating revenue.

2. The increase in sales costs may put pressure on profit margins, requiring the company to continue to work on operational efficiency and cost control.

3. Uncertainties in the global economy and changes in the external environment may affect the overall performance of the mining industry.