Endeavour Mining plc (LON:EDV, TSX:EDV, OTCQX:EDVMF) has announced its operating and financial results for Q1-2025.
FY-2025 guidance on track • Adjusted EBITDA of $613m • Record Free Cash Flow of $409m
OPERATIONAL AND FINANCIAL HIGHLIGHTS
- Strong quarterly production of 341koz at AISC of $1,129/oz; on track to achieve FY-2025 guidance with performance slightly weighted towards H1-2025, following strong Q1-2025 performance at the Houndé mine.
- Adj. EBITDA of $613m for Q1-2025, up 12% over Q4-2024.
- Adj. Net Earnings of $219m (or $0.90/sh) for Q1-2025, up 99% over Q4-2024.
- Operating Cash Flow before changes in working capital of $592m (or $2.43/sh) for Q1-2025, up 66% over Q4-2024.
- Record Free Cash Flow of $409m (or $1.68/sh) for Q1-2025, up 53% over Q4-2024; Free Cash Flow of $775m generated over the past three quarters following the completion of the Group’s growth phase in Q2-2024.
- Net debt reduced by over $350m in Q1-2025 to $378m; Net Debt / Adj. EBITDA (LTM) improved to 0.22x, significantly below the Group’s 0.50x target.
SECTOR LEADING SHAREHOLDER RETURNS
Record $140m (or $0.57/sh) H2-2024 dividend paid in early Q2-2025, record FY-2024 dividends of $240m; supplemented with $37m of share buybacks bringing total returns to $277m, equivalent to a 5.9% yield or $251/oz produced.
FY-2025 total returns expected to be larger than FY-2024 as minimum dividend of $225m has already been supplemented with $52m of share buybacks year to date; bringing minimum FY-2025 returns to $277m.
ATTRACTIVE ORGANIC GROWTH
Assafou project DFS on track for completion between late-2025 and early-2026, with exploration ongoing at Assafou and at the nearby Pala Trend 3 target, where a maiden resource is expected in H2-2025.
Strong exploration effortswith $24m spent inQ1-2025, focused on near-mine resource expansions and Assafou.
Endeavour Mining is one of the world’s senior gold producers and the largest in West Africa, with operating assets across Senegal, Côte d’Ivoire and Burkina Faso and a strong portfolio of advanced development projects and exploration assets in the highly prospective Birimian Greenstone Belt across West Africa.
