Endeavour Reports Strong FY-2024 Results
Why we think this is very good
The RNS provides a very positive update on Endeavour's FY-2024 performance, highlighting strong operational and financial results, a significant increase in reserves, and robust shareholder returns. There are no obvious red flags or concerning insights identified in the information provided. The company's outlook also appears attractive, with an exciting organic growth pipeline.
Key Points
- Record Q4-2024 free cash flow of $268m
- Improved leverage ratio of 0.55x
- 32% increase in proven and probable reserves to 18.4Moz
- Record FY-2024 dividend of $240m and $37m in share buybacks
- Tier 1 Assafou project DFS on track
- Reiterated FY-2025 production and cost guidance
Summary
Endeavour Mining plc reported strong FY-2024 results, including record Q4-2024 free cash flow of $268m and an improved leverage ratio of 0.55x. The company also saw a 32% increase in its proven and probable reserves to 18.4Moz. Endeavour declared a record $240m dividend for FY-2024 and completed $37m in share buybacks, demonstrating its commitment to shareholder returns. The company's organic growth pipeline also looks attractive, with the Tier 1 Assafou project DFS on track. Endeavour reiterated its FY-2025 production and cost guidance, further reinforcing the positive outlook.