Endeavour Reports Strong Q1-2025 Results

Core Viewpoint - Endeavour Mining plc reported strong operational and financial results for Q1-2025, with significant increases in adjusted EBITDA, free cash flow, and net earnings, while maintaining a robust balance sheet and enhancing shareholder returns. Operational and Financial Highlights - Q1-2025 adjusted EBITDA reached $613 million, a 12% increase from Q4-2024 [6] - Record free cash flow of $409 million was generated, up 53% from Q4-2024 [6] - Gold production totaled 341,000 ounces at an all-in sustaining cost (AISC) of $1,129 per ounce, slightly down from Q4-2024 [6][17] - Adjusted net earnings were $219 million, or $0.90 per share, reflecting a 99% increase over Q4-2024 [6][64] - Operating cash flow before changes in working capital was $592 million, a 66% increase from Q4-2024 [6][31] Shareholder Returns - The company paid a record dividend of $140 million for H2-2024 and has committed to a minimum dividend of $225 million for FY-2025 [6][25] - Total shareholder returns for FY-2024 amounted to $277 million, with $37 million in share buybacks [12][25] - Year-to-date, Endeavour has completed over $52 million in share buybacks, exceeding the total buybacks from FY-2024 [12][25] Financial Position - Net debt was reduced by over $350 million to $378 million, with a net debt to adjusted EBITDA ratio improved to 0.22x [6][41] - The company generated $775 million in free cash flow over the past three quarters following the completion of its growth phase [10] Production Insights - The Houndé mine produced 92,000 ounces, while total cash costs decreased to $751 per ounce [17][68] - The company remains on track to achieve its FY-2025 production guidance of 1,110 - 1,260 thousand ounces [17] Future Outlook - The Assafou project is on schedule for completion between late-2025 and early-2026, with ongoing exploration efforts [6][13] - The company aims to maximize free cash flow and enhance shareholder returns while capitalizing on favorable gold price conditions [14]