$EGO

ELDORADO GOLD CORP /FI

CIK:0000918608|SEC Filings

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Revenue
Metal sales	$ 1,818,856	$ 1,322,581
Cost of sales
Production costs	677,596	564,158
Depreciation and amortization	258,588	251,450
Cost of sales	936,184	815,608
Earnings from mine operations	882,672	506,973
Exploration and evaluation expenses	35,007	23,788
Mine standby costs	23,626	11,269
General and administrative expenses	39,170	36,240
Employee benefit plan expense	4,447	3,584
Share-based payments expense	20,224	11,872
Write-down of assets	12,737	6,135
Foreign exchange loss (gain)	20,062	(5,308)
Earnings from operations	727,399	419,393
Other (expense) income	(151,475)	39,050
Finance costs	(31,607)	(23,049)
Earnings from continuing operations before income tax	544,317	435,394
Income tax expense	22,068	134,758
Net earnings from continuing operations	522,249	300,636
Net loss from discontinued operations, net of tax	(17,945)	(13,676)
Net earnings for the year	504,304	286,960
Net earnings (loss) attributable to:
Shareholders of the Company	507,257	289,121
Non-controlling interests	(2,953)	(2,161)
Net earnings for the year	504,304	286,960
Net earnings (loss) attributable to shareholders of the Company:
Continuing operations	519,854	300,909
Discontinued operations	(12,597)	(11,788)
Earnings (loss) attributable to shareholders of the Company	507,257	289,121
Net earnings (loss) attributable to non-controlling interests:
Continuing operations	2,395	(273)
Discontinued operations	(5,348)	(1,888)
Net earnings (loss) attributable to non-controlling interests	$ (2,953)	$ (2,161)
Weighted average number of shares outstanding:
Basic (in shares)	203,018,394	203,983,457
Diluted (in shares)	205,412,243	205,541,542
Net earnings per share attributable to shareholders of the Company:
Basic earnings per share (in dollars per share)	$ 2.50	$ 1.42
Diluted earnings per share (in dollars per share)	2.47	1.41
Net earnings per share attributable to shareholders of the Company - Continuing operations:
Basic earnings per share (in dollars per share)	2.56	1.48
Diluted earnings per share (in dollars per share)	$ 2.53	$ 1.46

Consolidated Statements of Cash Flows $ in Thousands, € in Millions	12 Months Ended
	Dec. 31, 2025 USD ($)	Dec. 31, 2024 USD ($)
Operating activities
Net earnings for the year from continuing operations	$ 522,249	$ 300,636
Adjustments for:
Depreciation and amortization	260,505	254,991
Finance costs	31,607	23,049
Interest income	(33,614)	(23,949)
Unrealized foreign exchange loss	18,105	174
Income tax expense	22,068	134,758
Gain on disposal of assets	(6,566)	(1,624)
Unrealized loss on derivative contracts	39,428	51,751
Write-down of assets	12,737	6,135
Share-based payments expense	20,224	11,872
Employee benefit plan expense	4,447	3,584
Non-cash gain on deferred consideration	0	(60,000)
Total adjustments to reconcile profit (loss)	891,190	701,377
Property reclamation payments	(6,351)	(3,688)
Employee benefit plan payments	(5,559)	(3,003)
Income taxes paid	(160,898)	(83,162)
Interest received	33,614	23,949
Changes in non-cash operating working capital	(9,487)	20,554
Net cash generated from operating activities of continuing operations	742,509	656,027
Net cash used in operating activities of discontinued operations	(354)	(416)
Investing activities
Additions to property, plant and equipment	(866,362)	(594,142)
Capitalized interest paid	(44,923)	(30,461)
Proceeds from the sale of property, plant and equipment	5,908	6,162
Value added taxes related to mineral property expenditures	(51,676)	(9,756)
Cash received from deferred consideration	60,000	0
Sale (purchase) of investments in marketable securities	139,513
Sale (purchase) of investments in marketable securities		(1,139)
Purchase of investment in associate	(43,153)	0
Increase in deposits and other investments	(13,877)	(1,272)
Net cash used in investing activities of continuing operations	(814,570)	(630,608)
Financing activities
Issuance of common shares for cash, net of share issuance costs	8,853	14,112
Distributions to non-controlling interests	(747)
Contributions from non-controlling interests		201
Term Facility commitment fees	(1,881)	(6,016)
Interest paid	(22,915)	(19,905)
Principal portion of lease liabilities	(5,515)	(4,796)
Purchase of shares for cancellation	(203,544)	0
Purchase of shares held in trust for restricted share units	(11,324)	(1,962)
Net cash generated from financing activities of continuing operations	63,261	301,270
Effect of exchange rates on cash and cash equivalents	21,359	(10,365)
Net increase in cash and cash equivalents	12,205	315,908
Cash and cash equivalents - beginning of year	856,797	540,473
Change in cash in disposal group held for sale	354	416
Cash and cash equivalents - end of year	869,356	856,797
Commercial Loans and RRF Loans
Financing activities
Proceeds from Term Facility	278,493	310,918
Revolving VAT facility
Financing activities
Proceeds from Term Facility	75,900	56,022
Repayments of VAT facility	$ (54,068)	$ (47,304)

Consolidated Statements of Financial Position - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Current assets
Cash and cash equivalents	$ 869,356	$ 856,797
Accounts receivable and other	279,212	190,676
Inventories	297,165	278,995
Current other assets	0	138,932
Current derivative assets	2,051	52
Assets held for sale	0	16,686
Current assets	1,447,784	1,482,138
Deferred tax assets	37,076	19,487
Other assets	144,479	122,595
Investment in associate	109,423	0
Non-current derivative assets	10,380	0
Property, plant and equipment	4,885,564	4,118,782
Goodwill	92,591	92,591
Total assets	6,727,297	5,835,593
Current liabilities
Accounts payable and accrued liabilities	630,310	366,690
Current portion of lease liabilities	6,024	4,693
Current portion of debt	47,968	0
Current portion of asset retirement obligations	7,886	5,071
Current derivative liabilities	96,879	25,587
Liabilities associated with assets held for sale	0	10,133
Current liabilities	789,067	412,174
Debt	1,227,084	915,425
Lease liabilities	8,575	10,030
Employee benefit plan obligations	13,747	10,910
Asset retirement obligations	135,071	127,925
Non-current derivative liabilities	16,254	35,743
Deferred income tax liabilities	254,420	434,939
Total liabilities	2,444,218	1,947,146
Equity
Share capital	3,341,760	3,433,778
Shares held in trust for restricted share units	(16,035)	(12,970)
Contributed surplus	2,537,197	2,612,762
Accumulated other comprehensive (loss) income	(11,553)	56,183
Deficit	(1,572,080)	(2,193,163)
Total equity attributable to shareholders of the Company	4,279,289	3,896,590
Attributable to non-controlling interests	3,790	(8,143)
Total equity	4,283,079	3,888,447
Total liabilities and equity	$ 6,727,297	$ 5,835,593