Eldorado Gold : Presentation (ELD%20Investor%20Presentation July%201%2C%202025)
ELD.TO
Published on 07/11/2025 at 14:57
July 2025
CAT 777 Fleet at Skouries
Certain non-IFRS financial measures and ratios are included in this presentation, including total cash costs ($/oz sold), all-in sustaining costs ("AISC") ($/oz sold), adjusted net earnings, adjusted net earnings per share, adjusted EBITDA, cash flow from operating activities before changes in working capital, free cash flow, and free cash flow excluding Skouries. In the gold mining industry, these are common performance measures but may not be comparable to similar measures presented by other issuers.
The Company believes that these measures and ratios, in addition to conventional measures and ratios prepared in accordance with International Financial Reporting Standards ("IFRS"), provide investors an improved ability to evaluate the underlying performance of the Company. The non-IFRS and other non-financial measures and ratios are intended to provide additional information to assist in their evaluation of the Company's performance and ability to generate cash flow from operating activities and should not be considered in isolation or as a substitute for measures or ratios of performance prepared in accordance with IFRS. These measures and ratios do not have any standardized meaning prescribed under IFRS, and therefore may not be comparable to other issuers.
Certain additional disclosures for these non-IFRS measures, including quantitative reconciliations to the most directly comparable IFRS financial measures, are incorporated by reference herein and can be found in the section 'Non-IFRS and Other Financial
Measures and Ratios' starting at page 24 in the MDCA that will be available on SEDAR+ at https://http://www.sedarplus.com, on EDGAR at https://www.sec.gov, and on the Company's website under the 'Investors' section.
The most directly comparable IFRS financial measures and results from the quarter ended March 31, 2025, and year ended December 31, 2024 are below.
Non-IFRS Measure
Most Directly Comparable IFRS Measure
Q1 2025
FY 2024
Total cash costs
Production costs
$148.3 M
$564.2 M
AISC
Average realized gold price per ounce sold
Revenue
$355.2 M
$1,322.6 M
EBITDA
Earnings from continuing operations
before income tax
$42.3 M
$435.4 M
Adjusted EBITDA
Adjusted net earnings/(loss)
Net earnings attributable to shareholders
of the Company from continuing operations
$72.0 M
$300.9 M
Adjusted net earnings/(loss) per share
Cash flow from operating activities before changes in working capital
Net cash generated from operating activities
of continuing operations
$138.0 M
$645.7 M
Free cash flow
Free cash flow excluding Skouries
Sustaining capital expenditures
Additions to property, plant and equipment
$173.2 M
$620.3 M
Growth capital expenditures
Kassandra Mines, GREECE
2024 Au Production
69,532 oz
2024 AISC/oz sold(1)
$1,562
Operations in Türkiye, Greece and Canada
11.9 Moz of P&P gold reserves(2)
HEAD OFFICE
196,538 oz
ear mine life)
Lamaque Complex, CANADA (8-y
2024 Au Production
$1,134
Vancouver, Canada
2024 AISC/oz sold(1)
European Regional OFFICE
Amsterdam, Netherlands
Perama Hill, GREECE
Efemçukuru, TÜRKIYE (8-year mine life)
2024 Au Production
80,143 oz
2024 AISC/oz sold(1)
$1,411
2024 Au Production
Total Consolidated Production Profile
2024 Au Production
520,293 oz
2024 AISC/oz sold(1)
$1,285
Kışladağ, TÜRKIYE (13-year mine life)
Annual gold production expected to increase
to 660,000 - 720,000 oz in 2027(3)
Inaugural Mineral Reserve(2) of 619 K oz at Ormaque declared December 2024
Development projects: Skouries, Perama Hill
174,080 oz
Commercial production at Skouries expected in mid 2026
2024 AISC/oz sold(1)
$1,025
Production Development Care & Maintenance
(1) These are non-IFRS financial measures or ratios. See Slide 2 'Non-IFRS Measures' for more information. (2) Please refer to the Appendix for more information with respect to the mineral resources and mineral reserves. (3) As announced on February 5, 2025.
Eldorado is driving investor returns by focusing on four key areas
SKOURIES
In full construction, ~140 kozs average annual gold production forecast, with first production expected in Q1 2026 and commercial production in mid-2026
KIŞLADAĞ
Increase throughput and recovery
LAMAQUE COMPLEX
Resource conversion of Ormaque and Lower Triangle
Exploration upside from nearby targets
OLYMPIAS
Plant expansion to 650ktpa from 500ktpa
Our Sustainability Integrated Management System (SIMS) includes minimum performance standards against external commitments
Utilize filtered tailings technology
Robust management practices and due diligence
Advancing our Climate Change Strategy, with measurable progress toward our GHG mitigation target
Award winning ESG performance in mining
Advancing high-quality Greek assets creates re-rating potential
33% gold production growth over next 3 years
Increasing production, disciplined cost control, strong metal prices reflected in expanded margins
Increasing significant Free Cash Flow with productivity improvements at operating assets and Skouries delivery
Shareholder returns and debt
reduction with Skouries delivery
Normal Course Issuer Bid: Committed to enhancing shareholder returns
Cash and cash equivalents of
~$978 million as of March 31, 2025
Continued focus on maintaining a solid financial position which provides flexibility to respond to opportunities and unlock value across our business
Strategic leverage to copper production and higher metal prices
Disclaimer
Eldorado Gold Corporation published this content on July 11, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on July 11, 2025 at 18:56 UTC.