Eldorado Gold Delivers Strong 2025 Full Year and Fourth Quarter Financial and Operational Results; Significant Free Cash Flow Excluding Skouries and Increased Cash Generated From Operating Activities

Core Viewpoint - Eldorado Gold Corporation reported strong financial and operational results for Q4 2025 and the full year, achieving higher gold production and sales, driven by favorable gold prices and solid operational execution [5][47]. Operations - Gold production reached 123,416 ounces in Q4 2025 and 488,268 ounces for the full year, achieving the higher end of production guidance [4]. - Gold sales totaled 126,923 ounces in Q4 2025 and 491,204 ounces for the year, with an average realized gold price of $4,251 per ounce in Q4 and $3,505 per ounce for the year [4][46]. - Production costs were $203.0 million in Q4 2025 and $677.6 million for the year, with total cash costs at $1,295 per ounce sold in Q4 and $1,176 per ounce sold for the year [4][51]. Financial - Revenue for Q4 2025 was $577.2 million, and for the full year, it was $1,818.9 million, marking a 38% increase from 2024 [47]. - Net earnings attributable to shareholders from continuing operations were $252.3 million in Q4 2025 and $519.9 million for the year, compared to $108.2 million and $300.9 million in the respective prior periods [53]. - Adjusted net earnings from continuing operations were $126.1 million ($0.63 per share) in Q4 2025 and $354.9 million ($1.75 per share) for the year [54]. Skouries Project - The Skouries Project is progressing, with first production of copper-gold concentrate expected in early Q3 2026 and commercial production anticipated in Q4 2026 [7]. - The capital cost estimate for Skouries is $1.16 billion, fully funded through projected equity contributions and project financing [9]. - As of December 31, 2025, overall project progress was 90% complete, with significant advancements in construction activities [12]. Health and Safety - The lost-time injury frequency rate improved to 0.55 in Q4 2025, reflecting the company's commitment to workplace safety [35]. - The Courageous Safety Leadership program achieved 25% workforce participation, aiming for full implementation across all regions in 2026 [35]. Sustainability and Growth - The company increased its Mineral Reserves by 5% in 2025, driven by a 25% increase at the Lamaque Complex, indicating significant opportunities for resource conversion [35]. - Eldorado was recognized by TIME as one of Canada's Best Companies in 2025, reflecting strong performance in sustainability and employee satisfaction [35].