By 38% increased total income her Eldorado Gold In the first quarter of 2025, according to today’s (2.5.2025) announcement of the company.
Specifically, Eldorado Gold’s total revenue amounted to $ 355.2 million in the first quarter of 2025 compared to $ 258 million in 2024, up 38%.
Gold sales in the first quarter of 2025 amounted to 116,263 ounces, compared to the 116,008 ounces sold in the first quarter of 2024. The volume of sales compared to the previous year reflects mainly the comparable levels of production.
The average gold sale price was $ 2,933 per ounce in the first quarter of 2025, increasing $ 41% from $ 2,086 per ounce sold in the first quarter of 2024.
Production costs increased to $ 148.3 million in the first quarter of 2025 from $ 123.0 million in the first quarter of 2024 due to the highest cash costs in the quarter. The increase in exploitation rights corresponded to about a third of the increase in production costs.
The rest mainly concerns increases in labor costs, due to inflation, the costs that was not offset by the depreciation of the local currency in the Turkish Republic and the lamaque additional costs that resulted in workforce and contractors due to the deepening of the Triangle Metal Production Center,
Production costs include operating rights costs, which increased to $ 22.2 million in the first quarter of 2025 from $ 14.2 million in the first quarter of 2024, due to the highest average of gold prices and higher sales volumes.
The total cost in cash in the first quarter of 2025 amounted to $ 1,153 per ounce of ounces, increasing from $ 922 per ounce in the first quarter of 2024, mainly due to the highest exploitation costs and the highest rates.
AISC per sold ounce increased to $ 1,559 in the first quarter of 2025 from $ 1,262 in the first quarter of 2024, reflecting the highest total cost of cash per ounce in the first quarter of 2025 in conjunction with the highest maintenance costs.
Eldorado announced net profits corresponding to shareholders from continuing activities of $ 72.0 million ($ 0.35 per share) in the first quarter of 2025, compared to net profits of $ 35.2 million ($ 0.17 per share) in the first quarter of 2024.
The highest net profits in the first quarter of 2025 are mainly attributed to the highest average gold sales prices, which were partially offset by the highest production costs.
Customized net profit amounted to $ 56.4 million ($ 0.28 earnings per share) in the first quarter of 2025, compared to custom net profits $ 55.2 million ($ 0.27 earnings per share) in the first quarter of 2024.
Adjustments of non -repetitive data from the highest net profits in the first quarter of 2025, including a recovery of $ 73.5 million from the recognition of deferred tax claim, a non -damaged loss of $ 63.4 million by derivatives and profit profits of 6.5 million dollars.
This resulted in comparable cleaned net profits with the first quarter of 2024, as the highest current tax expenses, financial costs and production costs have offset the highest revenue.
Main points of the first quarter 2025
Gold production: Total gold production of 115,893 ounces with production units in Lamaque, Kisladag and Efemcukuru responding to expectations. The production of the Olympiad was influenced by unplanned maintenance related to the filtering of the silicon condensate, as well as issues that influenced the stability of the floating circuit and reduced the performance and recovery of metallic elements of the enrichment plant.
Gold Sales: Total gold sales 116,263 ounces with average gold per ounce price of $ 2,933.
Production Cost: The total cost of gold production was $ 148.3 million first quarter of 2025.
Total cost in cash: $ 1,153 per ounce sold in the first quarter of 2025.
Total operating expenses & capital costs to support current production (“AISC”): $ 1,559 per ounce sold in the first quarter of 2025.
Total capital expenses: $ 173.2 million in the first quarter of 2025, including $ 83.8 million invested in the work of Skouria, with the activity focusing on large earthworks and infrastructure and $ 6.4 million accelerated operating capital. The Functional Mining Chapter amounted to $ 38.9 million and mainly concerned Kisladag for the continuation of waste stripping, continuing the construction of the second phase of the North Heap Leach Pad and the relevant infrastructure.
Products of production and costs: The company maintains its annual forecasts for the production of 2025, which amounts to 460,000 to 500,000 ounces of gold. Production continues to be weighed in the second half of the year. The total cost of cash for the whole year is expected to range between $ 980 and $ 1,080 per ounce sold and an AISC medium between $ 1,370 and $ 1,470 per ounce sold.
Financially
Income: $ 355.2 million in the first quarter of 2025
Net cash flows from operational continuing activities: $ 138 million in the first quarter of 2025.
Cash flows from operational activities before the capital changes: $ 136.5 million in the first quarter of 2025.
Cash and equivalents: On March 31, 2025: Cashings increased by $ 121.3 million in the first quarter of 2025 compared to the fourth quarter of 2024, mainly as a result of the sales of G Mining Ventures shares, which were partially offset by investment in growth capital.
Net profit to shareholders from ongoing activities: $ 0.35 profits per share.
Addressed net profits before taxes, investment and financial results and total depreciation (“Adjusted EBITDA”): $ 163 million.
Addressed net profits from ongoing activities: $ 56.4 million net profits, or $ 0.28 earnings per share in the first quarter of 2025. Adjustments of non -repetitive data include, among other things, recovery of $ 73.5 million from the recognition of deferred tax claims, not $ 63.4 million in loss of 63.4 million dollars and $ 63.4 million. mining permits.
Free Cash Flows: 2025, mainly due to the ongoing investment in development capital, which was partially offset by the strong cash -free cash resulting from operational activities. The free cash flows excluding capital spending in Skouries were $ 75.5 million.