Endeavour Mining PLC (LSE:EDV, TSX:EDV, OTCQX:EDVMF) delivered a record-breaking fourth quarter in 2024, generating $268 million in free cash flow, highlighting the company’s ability to produce strong financial returns.
Adjusting for a one-off pre-payment settlement, free cash flow exceeded $400 million, reinforcing the strength of its portfolio.
Chief executive Ian Cockerill said the company had maintained “strong momentum” into early 2025 and remained focused on maximising cash flow to support shareholder returns.
He also noted that Endeavour was on track to achieve its near-term leverage target of 0.50x after ending the year at 0.55x.
For the full year, Endeavour produced 1.1 million ounces of gold at an all-in sustaining cost of $1,218 per ounce, positioning it as one of the lowest-cost producers in the industry.
Adjusted EBITDA reached $1.325 billion, up 27% from the previous year, while adjusted net earnings rose to $227 million.
The company rewarded shareholders with a record $240 million in dividends, alongside $37 million in share buybacks, bringing total returns to $277 million for the year.
The shareholder return programme, equivalent to $251 per ounce of gold produced, was 32% above Endeavour’s minimum commitment.
Looking ahead, Endeavour remains focused on growth, with the Assafou project in Côte d’Ivoire advancing toward a definitive feasibility study by early 2026. The company increased its reserves by 32% in 2024, adding 4.5 million ounces, underlining its ability to replace and expand production.
Cockerill said the company’s strong financial position and exploration success provided a solid foundation for future growth and returns.