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Business Upturn
5 days ago
- Business
- Business Upturn
EPSO-G announces audited Sustainability Performance Report for 2024
EPSO-G (company code: 302826889, registered office address Laisvės pr. 10, Vilnius, Lithuania) (hereinafter – the Group) announces the 2024 Sustainability Performance Report (the Performance Report), including an Independent Limited Assurance Report. The Independent Limited Assurance of the Performance Report has been carried out by PricewaterhouseCoopers. EPSO-G issued a EUR 75 million sustainability-linked bond ISIN LT0000406530 (hereinafter – the Bond prospectus) on 7 June 2022 (EUR 75,000,000 3.117 per cent. Senior Unsecured Sustainability-Linked Notes due 2027). Under the terms of the Bond, EPSO-G committed to achieving sustainability performance target (SPT1) to reduce its Scope 1 and Scope 2 GHG emissions (tCO 2 e) by 30% by 2026, compared to the 2019 baseline and SPT2 – ensure that the amount of energy not supplied (hereinafter – ENS) does not exceed 136.255 MWh in the period 2022-2026. PricewaterhouseCoopers has assessed the calculation and disclosure of Scope 1 and Scope 2 GHG emissions, and ENS indicator. The audit firm confirmed in an independent limited assurance report that the EPSO-G Group has calculated the two key performance indicators for 2024 in compliance with the criteria for disclosure of the sustainability indicators. The Performance Report provides the latest information on the progress of the Group's key sustainability-linked performance targets and its indicators in the implementation of both the 2022 EPSO-G Sustainability-linked Finance Framework and the commitments made by EPSO-G under the Bond prospectus. This Performance Report should be read in conjunction with the EPSO-G 2024 consolidated management report (hereinafter – Management Report), which contains information relating to sustainability and other significant events affecting the Group. The Management Report is presented together with the independent auditor's report on the audit of the separate and consolidated financial statements and the independent practitioner's limited assurance report on the EPSO-G consolidated sustainability statement for the year ended December 31, 2024. The EPSO-G group of companies consists of the holding company EPSO-G and its five direct subsidiaries Amber Grid, Baltpool, Energy Cells, Litgrid and Tetas. EPSO-G and its Group companies also hold shares in Rheinmetall Defence Lietuva, GET Baltic, Baltic RCC OÜ and TSO Holding AS. The rights and obligations of the sole shareholder of EPSO-G are exercised by the Ministry of Energy of the Republic of Lithuania. For more informationGediminas Petrauskas, Communications Partner at EPSO-G Tel. +370 610 63306, e-mail [email protected]
Yahoo
5 days ago
- Business
- Yahoo
EPSO-G announces audited Sustainability Performance Report for 2024
EPSO-G (company code: 302826889, registered office address Laisvės pr. 10, Vilnius, Lithuania) (hereinafter - the Group) announces the 2024 Sustainability Performance Report (the Performance Report), including an Independent Limited Assurance Report. The Independent Limited Assurance of the Performance Report has been carried out by PricewaterhouseCoopers. EPSO-G issued a EUR 75 million sustainability-linked bond ISIN LT0000406530 (hereinafter - the Bond prospectus) on 7 June 2022 (EUR 75,000,000 3.117 per cent. Senior Unsecured Sustainability-Linked Notes due 2027). Under the terms of the Bond, EPSO-G committed to achieving sustainability performance target (SPT1) to reduce its Scope 1 and Scope 2 GHG emissions (tCO2e) by 30% by 2026, compared to the 2019 baseline and SPT2 - ensure that the amount of energy not supplied (hereinafter - ENS) does not exceed 136.255 MWh in the period 2022-2026. PricewaterhouseCoopers has assessed the calculation and disclosure of Scope 1 and Scope 2 GHG emissions, and ENS indicator. The audit firm confirmed in an independent limited assurance report that the EPSO-G Group has calculated the two key performance indicators for 2024 in compliance with the criteria for disclosure of the sustainability indicators. The Performance Report provides the latest information on the progress of the Group's key sustainability-linked performance targets and its indicators in the implementation of both the 2022 EPSO-G Sustainability-linked Finance Framework and the commitments made by EPSO-G under the Bond prospectus. This Performance Report should be read in conjunction with the EPSO-G 2024 consolidated management report (hereinafter - Management Report), which contains information relating to sustainability and other significant events affecting the Group. The Management Report is presented together with the independent auditor's report on the audit of the separate and consolidated financial statements and the independent practitioner's limited assurance report on the EPSO-G consolidated sustainability statement for the year ended December 31, 2024. The EPSO-G group of companies consists of the holding company EPSO-G and its five direct subsidiaries Amber Grid, Baltpool, Energy Cells, Litgrid and Tetas. EPSO-G and its Group companies also hold shares in Rheinmetall Defence Lietuva, GET Baltic, Baltic RCC OÜ and TSO Holding AS. The rights and obligations of the sole shareholder of EPSO-G are exercised by the Ministry of Energy of the Republic of Lithuania. For more information Gediminas Petrauskas, Communications Partner at EPSO-G Tel. +370 610 63306, e-mail Attachment Darnumo_rodiklių_pažangos_ataskaita_2024_ENError in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Hamilton Spectator
01-05-2025
- Business
- Hamilton Spectator
Endeavour Reports Strong Q1-2025 Results
ENDEAVOUR REPORTS STRONG Q1-2025 RESULTS FY-2025 guidance on track • Adjusted EBITDA of $613m • Record Free Cash Flow of $409m London, 1 May 2025 – Endeavour Mining plc (LSE:EDV, TSX:EDV, OTCQX:EDVMF) ('Endeavour', the 'Group' or the 'Company') is pleased to announce its operating and financial results for Q1-2025, with highlights provided in Table 1 below. Table 1: Operating and financial highlights 1 This is a non-GAAP measure, refer to the non-GAAP Measures section for further de tails. 2 Realised gold price s are inclusive of the Sabodala-Massawa stream and the realised gains/losses from the Group's revenue protection programm e. 3 From all operations ; c alculated as Operating Cash F low less Cash used in investing activities . 4 Last Twelve Months ('LTM') Trailing EBITDA adj includes EBITDA generated by discontinued operations . Management will host a conference call and webcast today, 1 May 2025, at 8:30 am EST / 1:30 pm BST. For instructions on how to participate, please refer to the conference call and webcast section at the end of the news release. Copies of the Management Report and Financial Statements have been submitted to the National Storage Mechanism and will be filed on SEDAR+. The documents will shortly be available for inspection on the Company's website and at: . Ian Cockerill, Chief Executive Officer, commented: 'We are pleased that the strong momentum from the end of last year has continued into Q1, as we delivered another quarter of exceptional operational performance, placing us firmly on track to achieve our full-year guidance. Production and all-in sustaining costs were significantly stronger than the prior year period, as we realised the full benefit of our recently completed growth phase, coupled with strong performance across the rest of the portfolio. During Q1, we generated record free cash flow of over $400 million, reflecting our transition to a highly free cash flow generative phase. Since completing our growth phase, three quarters ago, we have generated more than $775 million of free cash flow, equivalent to $795 per ounce produced. Our strong free cash flow generation has enabled us to significantly strengthen our balance sheet, reducing our net debt by over $350 million and bringing our leverage ratio below our 0.50x target, down to 0.22x. Our resilient balance sheet gives us the flexibility to invest in future organic growth, through the tier 1 Assafou project, while sustainably rewarding shareholders. We supplemented our record FY-2024 dividend of $240 million, with $37 million of share buybacks, bringing total shareholder returns for FY-2024 to $277 million, equivalent to an indicative yield of 5.9%, or $251 per ounce produced, returned to shareholders. We have continued to increase our commitment to shareholder returns and, year-to-date we have completed over $52 million of share buybacks, more than we purchased through the whole of 2024, already bringing the minimum returns for FY-2025 to at least $277 million, ensuring that FY-2025 total shareholder returns will exceed FY-2024. Our tier 1 Assafou project continues to advance on schedule, with the project shaping up to be a cornerstone asset in our portfolio. We now see significant scope for the endowment of the wider district to continue growing, and we expect to provide a resource update later this year, as we advance the Definitive Feasibility Study towards completion. Building on our momentum through the year, we will focus on maximising free cash flow and enhancing shareholder returns, as we advance our high-quality organic growth pipeline. With our higher-quality portfolio, sector leading margins and best-in-class growth outlook, we are well positioned to capitalise on the favourable gold price environment and deliver value for all of our stakeholders.' OPERATING SUMMARY Table 2: Group Production Table 3: Consolidated Total Cash Costs 1 This is a non-GAAP measure , refer to the non-GAAP Measures section for further details. Table 4: Group All-In Sustaining Costs 1 This is a non-GAAP measure, refer to the non-GAAP Measures section for further details . SHAREHOLDER RETURNS PROGRAMME Table 5: Cumulative Shareholder Returns CASH FLOW SUMMARY The table below presents the cash flow and net debt position for Endeavour for the three-month periods ended 31 March 2025, 31 December 2024, and 31 March 2024, with accompanying explanations below. Table 6: Cash Flow and Net Debt 1 Free cash flow, n et debt, and a djusted EBITDA are Non-GAAP measures. Refer to the non-GAAP measure section in this press release and in the Management Report . 2 From all operations; calculated as Operating Cash Flow less Cash used in investing activities. 3 Ca sh and cash equivalents are net of bank overdrafts ( Nil at 31 March 2025; $13.1 million at 31 December 2024; $62.2 at 30 September 2024; Nil at 3 1 March 2024; Nil at 31 December 2023 ). 4 Trailing twelve month adjusted EBITDA includes EBITDA generated by discontinued operations . NOTES: 1) Operating cash flows increased by $112.8 million from $381.4 million (or $1.56 per share) in Q4-2024 to $494.2 million (or $2.03 per share) in Q1-2025 due to higher realised gold prices and lower operating costs, partially offset by a working capital outflow (driven by a build-up of inventory and net payment of accounts payable), higher royalties, higher income tax payments and a higher realised loss on gold collars and LBMA averaging. Operating cash flows increased by $439.1 million from $55.1 million (or $0.22 per share) in Q1-2024 to $494.2 million (or $2.03 per share) in Q1-2025 due to higher revenues and lower income tax payments, partially offset by higher operating costs and royalties, higher working capital outflows and a higher realised loss on gold collars and LBMA averaging. Notable variances are summarised below: Table 7: Tax Payments 1 Included in the 'Other' category is income and withholding taxes paid by Corporate and Exploration entities. 2) Cash flows used in investing activities decreased by $28.4 million from $113.2 million in Q4-2024 to $84.8 million in Q1-2025 due to a decrease in non-sustaining capital spend during the quarter of $25.3 million and lower growth capital expenditure following the commissioning of the Lafigué and Sabodala-Massawa projects during Q3-2024. In addition an inflow of $17.0 million related to the release of restricted cash at Ity decreased cash flows used in investing activities further. This decrease was partially offset by an increase in sustaining capital of $12.3 million. Cash flows used in investing activities decreased by $102.7 million from $187.5 million in Q1-2024 to $84.8 million in Q1-2025 largely due to lower growth capital following completion of growth projects in FY-2024, lower non-sustaining capital and an inflow of $17.0 million related to the release of restricted cash at Ity, partially offset by an increase in sustaining capital. 3) Cash flows used in financing activities decreased by $69.2 million from an outflow of $136.0 million in Q4-2024 to an outflow of $66.8 million in Q1-2025 largely due to the timing of shareholder dividend payments in the prior period and higher financing fees, partially offset by increased activity on the Group's share buybacks during Q1-2025. Financing cash flows during the quarter included $91.6 million in repayment of debt, $40.0 million in purchases of shares through the Group's share buyback programme, $11.8 million in payment of financing fees, $6.7 million in repayment of leases and $1.7 million for payment of the settlement of tracker shares, partially offset by $85.0 million of drawing on Company's debt facilities. Cash flows used in financing activities decreased by $154.5 million from an inflow of $87.7 million in Q1-2024 to an outflow of $66.8 million in Q1-2025 largely due a net inflow of $219.3 million in proceeds from debt in Q1-2024, partially offset by shareholder dividend payments of $100.0 million during the same period. 4) Endeavour's net debt position improved by $353.9 million, from $731.6 million at the end of Q4-2024 to $377.7 million at the end of Q1-2025 and the net debt / Adjusted EBITDA (LTM) leverage ratio improved from 0.55x at the end of Q4-2024 to 0.22x at the end of Q1-2025. The rapid de-levering following the Group's growth phase, reflects the strong cash flow generation capability of the business. EARNINGS FROM CONTINUING OPERATIONS The table below presents the earnings and adjusted earnings for Endeavour for the three-month periods ended 31 March 2025, 31 December 2024, and 31 March 2024, with accompanying explanations below. Table 8: Earnings from operations NOTES: 5) Revenue increased by $101.3 million from $940.5 million in Q4-2024 to $1,041.8 million in Q1-2025 due to an increase in the realised gold price from $2,620/oz in Q4-2024 to $2,939/oz in Q1-2025, exclusive of the Company's Revenue Protection Programme (gold collars and London Bullion Market Association ('LBMA') gold price averaging strategy), partially offset by slightly lower volumes of gold sold. Revenue increased by $569.1 million from $472.7 million in Q1-2024 to $1,041.8 million in Q1-2025 due to an increase in the realised gold price from $2,091/oz in Q1-2024 to $2,939/oz in Q1-2025, exclusive of the Company's Revenue Protection Programme (gold collars and LBMA gold price averaging strategy) and higher volumes of gold sold. 6) Operating expenses decreased by $34.9 million from $293.9 million in Q4-2024 to $259.0 million in Q1-2025, largely due to lower mining and processing costs at Houndé and Ity, respectively. Depreciation and depletion decreased by $51.0 million from $225.6 million in Q4-2024 to $174.6 million in Q1-2025 due to lower quarterly production. Operating expenses increased by $59.1 million from $199.9 million in Q1-2024 to $259.0 million in Q1-2025 due to the introduction of Lafigué and the Sabodala-Massawa BIOX expansion following commissioning during Q3-2024, increased underground mining costs at Mana driven by higher volumes and increased mining costs at Ity and Houndé driven by higher volumes. Depreciation and depletion increased by $65.9 million from $108.7 million in Q1-2024 to $174.6 million in Q1-2025 due to higher levels of production at Houndé and Sabodala-Massawa, and higher depreciation and depletion charges driven by the commencement of operations at Lafigué and the Sabodala-Massawa BIOX expansion following commissioning during Q3-2024. 7) Royalties increased by $11.4 million from $64.3 million in Q4-2024 to $75.7 million in Q1-2025 due to a higher realised gold price, partially offset by slightly lower sales volumes. Royalties increased by $41.8 million from $33.9 million in Q1-2024 to $75.7 million in Q1-2025 due to a higher realised gold price and higher gold sales volumes. 8) Corporate costs of $14.5 million in Q1-2025 were largely consistent with the prior quarter. Corporate costs increased from $10.5 million in Q1-2024 to $14.5 million in Q1-2025 due to increased employee compensation costs and higher professional services costs. 9) Other expenses increased by $9.9 million from $9.1 million in Q4-2024 to $19.0 million in Q1-2025. For Q1-2025, other expenses included $9.3 million in acquisition and restructuring costs primarily related to payments in Côte d'Ivoire, $7.9 million in legal and other costs related to ongoing local level arbitrations, $1.2 million in tax claims and $0.6 million in community contributions. 10) Credit loss and impairment of financial assets decreased by $15.7 million from $22.3 million in Q4-2024 to $6.6 million in Q1-2025. For Q1-2025, the charge primarily related to a credit loss adjustment against the outstanding VAT receivables in Burkina Faso. 11) Exploration costs increased by $3.4 million from $5.2 million in Q1-2024 to $8.6 million in Q1-2025 due to the commencement of the FY-2025 drill programmes across the Group's portfolio of assets. Exploration costs increased by $3.2 million from $5.4 million in Q1-2024 to $8.6 million in Q1-2025 due to an increased proportion of quarterly spend allocated to greenfield properties within the Group's exploration portfolio. 12) The loss on financial instruments increased by $133.9 million from a gain of $33.6 million in Q4-2024 to a loss of $100.3 million in Q1-2025, largely due to an increase in net losses on gold collars and London Bullion Market Association ('LBMA') gold pricing averaging. The loss on financial instruments during the quarter included an unrealised loss on gold collars and LBMA gold price averaging of $55.0 million, a realised loss on the Group's revenue protection programme of $54.8 million (including a $32.8 million realised loss on gold collars and a $22.0 million realised loss related to LBMA gold price averaging), partially offset by an unrealised foreign exchange gain of $2.8 million, a $0.9 million unrealised gain on other financial instruments, a gain on marketable securities (Turaco Gold Limited) of $4.0 million, an unrealised fair value gain on NSRs and deferred considerations of $1.5 million and an unrealised gain on the early redemption feature of senior notes of $0.3 million. The loss on financial instruments increased by $54.1 million from a loss of $46.2 million in Q1-2024 to a loss of $100.3 million in Q1-2025, due largely to realised and unrealised losses in relation to the gold collars and LBMA Averaging Programme, partially offset by a gain on exchange rate movements between the Euro and the US dollar. As previously disclosed, in order to increase cash flow visibility during its construction and de-leveraging phases, Endeavour entered into a Revenue Protection Programme, using a combination of zero premium gold collars and forward sales contracts, to cover a portion of its 2025 production. 13) Current income tax expense increased by $11.7 million from $109.2 million in Q4-2024 to $120.9 million in Q1-2025, largely due to an increase in current corporate income taxes driven by higher taxable profits, partially offset by a decrease in recognised withholding tax expenses in Q1-2025 due to the timing of local board approvals for cash upstreaming. Current income tax expense increased by $80.4 million from $40.5 million in Q1-2024 to $120.9 million in Q1-2025 due to an increase in withholding taxes accrued by operating subsidiaries, an increase in current income taxes driven by higher taxable profits and the commencement of operations at Lafigué, effective Q3-2024. 14) Net comprehensive earnings from continuing operations improved by $325.6 million from a net comprehensive loss of $103.3 million in Q4-2024 to net comprehensive earnings of $222.3 million in Q1-2025. The increase in earnings is largely driven by an increase in revenue due to a higher realised gold price, lower depletion and depreciation and the impairment charge on Kalana and exploration assets in the prior quarter, partially offset by an increase in operating expenses, higher royalty costs, and a loss on financial instruments related to the Revenue Protection Programme. Net comprehensive earnings from continuing operations improved by $231.6 million from net comprehensive loss of $9.3 million in Q1-2024 to net comprehensive earnings of $222.3 million in Q1-2025. The increase in earnings was largely driven by an increase in gold sold volumes at a higher realised gold price, partially offset by higher operating expenses, higher depletion and depreciation and higher losses on financial instruments related to the Revenue Protection Programme. 15) For Q1-2025, adjustments included an unrealised loss on financial instruments of $45.5 million largely related to the unrealised loss on forward sales and collars, other expenses of $19.0 million largely related to acquisition and restructuring costs in Côte d'Ivoire and legal costs related to ongoing local level arbitrations, and an impairment of $6.6 million related to the write-down of VAT receivables in Burkina Faso, partially offset by a gain on non-cash, tax and other adjustments of $27.4 million that mainly relate to the impact of foreign exchange remeasurements of deferred tax balances. 16) Adjusted net earnings attributable to shareholders increased by $108.9 million from earnings of $110.1 million (or $0.45 per share) in Q4-2024 to adjusted net earnings of $219.0 million (or $0.90 per share) in Q1-2025, due to higher operating margins, aided by a higher realised gold price. Adjusted net earnings attributable to shareholders for continuing operations increased by $178.2 million from earnings of $40.7 million (or $0.17 per share) in Q1-2024 to adjusted net earnings $219.0 million (or $0.90 per share) in Q1-2025 due to higher production and higher operating margins. OPERATING ACTIVITIES BY MINE Houndé Gold Mine, Burkina Faso Table 9: Houndé Performance Indicators Q1-2025 vs Q4-2024 Insights Q1-2025 vs Q1-2024 Insights FY-2025 Outlook Ity Gold Mine, Côte d'Ivoire Table 10: Ity Performance Indicators Q1-2025 vs Q4-2024 Insights Q1-2025 vs Q1-2024 Insights FY-2025 Outlook Mana Gold Mine, Burkina Faso Table 11: Mana Performance Indicators Q1-2025 vs Q4-2024 Insights Q1-2025 vs Q1-2024 Insights FY-2025 Outlook Sabodala-Massawa Gold Mine, Senegal Table 12: Sabodala-Massawa Performance Indicators Q1-2025 vs Q4-2024 Insights Q1-2025 vs Q1-2024 Insights FY-2025 Outlook Solar Power Plant Lafigué Mine, Côte d'Ivoire Table 13: Lafigué Performance Indicators Q1-2025 vs Q4-2024 Insights FY-2025 Outlook Assafou Project, Côte d'Ivoire EXPLORATION ACTIVITIES Table 14: Q1-2025 Exploration Expenditure and FY-2025 Guidance 1 1 Exploration expenditures include expensed and capitalised exploration expenditures. Houndé mine Ity mine Mana mine Sabodala-Massawa mine Lafigué mine Assafou Project New Ventures and greenfield Exploration CONFERENCE CALL AND LIVE WEBCAST Management will host a conference call and webcast on Thursday 1 May, at 8:30 am EST / 1:30 pm BST to discuss the Company's financial results. The conference call and webcast are scheduled at: 5:30am in Vancouver 8:30am in Toronto and New York 1:30pm in London 8:30pm in Hong Kong and Perth The video webcast can be accessed through the following link: To download a calendar reminder for the webcast, visit the events page of our website here . Analysts and investors are also invited to participate and ask questions by registering for the conference call dial-in via the following link: The conference call and webcast will be available for playback on Endeavour's website . QUALIFIED PERSONS Brad Rathman, Vice President - Operations of Endeavour Mining plc., a Fellow of the Australasian Institute of Mining and Metallurgy (AusIMM), is a 'Qualified Person' as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects ('NI 43-101') and has reviewed and approved the technical information in this news release. CONTACT INFORMATION ABOUT ENDEAVOUR MINING PLC 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. A member of the World Gold Council, Endeavour is committed to the principles of responsible mining and delivering meaningful value to people and society. Endeavour is admitted to listing and to trading on the London Stock Exchange and the Toronto Stock Exchange, under the symbol EDV. For more information, please visit . CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION This document contains 'forward-looking statements' within the meaning of applicable securities laws. All statements, other than statements of historical fact, are 'forward-looking statements', including but not limited to, statements with respect to Endeavour's plans and operating performance, the estimation of mineral reserves and resources, the timing and amount of estimated future production, costs of future production, future capital expenditures, the success of exploration activities, the anticipated timing for the payment of a shareholder dividend and statements with respect to future dividends payable to the Company's shareholders, the completion of studies, mine life and any potential extensions, the future price of gold and the share buyback programme. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as 'expects', 'expected', 'budgeted', 'forecasts', 'anticipates', 'believes', 'plan', 'target', 'opportunities', 'objective', 'assume', 'intention', 'goal', 'continue', 'estimate', 'potential', 'strategy', 'future', 'aim', 'may', 'will', 'can', 'could', 'would' and similar expressions. Forward-looking statements, while based on management's reasonable estimates, projections and assumptions at the date the statements are made, are subject to risks and uncertainties that may cause actual results to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to the successful completion of divestitures; risks related to international operations; risks related to general economic conditions and the impact of credit availability on the timing of cash flows and the values of assets and liabilities based on projected future cash flows; Endeavour's financial results, cash flows and future prospects being consistent with Endeavour expectations in amounts sufficient to permit sustained dividend payments; the completion of studies on the timelines currently expected, and the results of those studies being consistent with Endeavour's current expectations; actual results of current exploration activities; production and cost of sales forecasts for Endeavour meeting expectations; unanticipated reclamation expenses; changes in project parameters as plans continue to be refined; fluctuations in prices of metals including gold; fluctuations in foreign currency exchange rates; increases in market prices of mining consumables; possible variations in ore reserves, grade or recovery rates; failure of plant, equipment or processes to operate as anticipated; extreme weather events, natural disasters, supply disruptions, power disruptions, accidents, pit wall slides, labour disputes, title disputes, claims and limitations on insurance coverage and other risks of the mining industry; delays in the completion of development or construction activities; changes in national and local government legislation, regulation of mining operations, tax rules and regulations and changes in the administration of laws, policies and practices in the jurisdictions in which Endeavour operates; disputes, litigation, regulatory proceedings and audits; adverse political and economic developments in countries in which Endeavour operates, including but not limited to acts of war, terrorism, sabotage, civil disturbances, non-renewal of key licences by government authorities, or the expropriation or nationalisation of any of Endeavour's property; risks associated with illegal and artisanal mining; environmental hazards; and risks associated with new diseases, epidemics and pandemics. Although Endeavour has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Please refer to Endeavour's most recent Annual Information Form filed under its profile at for further information respecting the risks affecting Endeavour and its business. The declaration and payment of future dividends and the amount of any such dividends will be subject to the determination of the Board of Directors, in its sole and absolute discretion, taking into account, among other things, economic conditions, business performance, financial condition, growth plans, expected capital requirements, compliance with the Company's constating documents, all applicable laws, including the rules and policies of any applicable stock exchange, as well as any contractual restrictions on such dividends, including any agreements entered into with lenders to the Company, and any other factors that the Board of Directors deems appropriate at the relevant time. There can be no assurance that any dividends will be paid at the intended rate or at all in the future. NON-GAAP MEASURES Some of the indicators used by Endeavour in this press release represent non-IFRS financial measures, including 'all-in margin', 'all-in sustaining cost', 'net cash / net debt', 'EBITDA', 'adjusted EBITDA', 'net cash / net debt to adjusted EBITDA ratio', 'cash flow from continuing operations', 'total cash cost per ounce', 'sustaining and non-sustaining capital', 'net earnings', 'adjusted net earnings', 'free cash flow', 'operating cash flow per share', 'free cash flow per share', and 'return on capital employed'. These measures are presented as they can provide useful information to assist investors with their evaluation of the pro forma performance. Since the non-IFRS performance measures listed herein do not have any standardised definition prescribed by IFRS, they may not be comparable to similar measures presented by other companies. Accordingly, they are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. Please refer to the non-GAAP measures section in this press release and in the Company's most recently filed Management Report for a reconciliation of the non-IFRS financial measures used in this press release. Corporate Office: 5 Young St, Kensington, London W8 5EH, UK Attachments
Business Wire
30-04-2025
- Business
- Business Wire
ADOCIA Announces the Release of its Universal Registration Document for the Year 2024
LYON, France--(BUSINESS WIRE)--Regulatory News: Adocia (Euronext Paris: FR0011184241 – ADOC), a clinical-stage biopharmaceutical company focused on the research and development of innovative therapeutic solutions for the treatment of diabetes and obesity, announced today the filing of its 2024 Universal Registration Document with the 'Autorité des marchés financiers' (AMF - the French financial markets regulator) on April 29 th, 2025. An electronic copy of this document is available on the company's website ( as well as on the website of the AMF ( Hard copies are available upon request at the company's headquarters located 115, avenue Lacassagne, 69003 Lyon. The following documents are included in the Universal Registration Document (document d'enregistrement universel): the 2024 annual financial report, which includes the 2024 Management Report, the 2024 Board of Directors' report on corporate governance, the reports from the statutory auditors and information on their fees, the description of the share buy-back program. About Adocia Adocia is a biotechnology company specializing in the discovery and development of therapeutic solutions in the field of metabolic diseases, primarily diabetes and obesity. The company has a broad portfolio of drug candidates based on four proprietary technology platforms: 1) The BioChaperone ® technology for the development of new generation insulins and products combining different hormones; 2) AdOral ®, an oral peptide delivery technology; 3) AdoShell ®, an immunoprotective biomaterial for cell transplantation, with an initial application in pancreatic cells transplantation; and 4) AdoGel ®, a long-acting drug delivery platform. Adocia holds more than 25 patent families. Based in Lyon, the company has about 80 employees. Adocia is listed on the regulated market of Euronext TM Paris (Euronext: ADOC; ISIN: FR0011184241).
