30th Jul 2026 11:44
(Alliance News) - Endeavour Mining PLC on Thursday reported a "solid" set of half-year results, including "record" free cash flow generation.
The London-based mining company reported gold production of 564,000 ounces for the first half, down 13% from 647,000 ounces the year before. Second-quarter production decreased to 283,000 ounces from 306,000 ounces the previous year.
Gold sales decreased 15% year-on-year for the first half to 557,000 ounces from 65,000 ounces. However, the realised gold price jumped 55% to USD4,579 an ounce from USD2,953.
Pretax profit increased to USD1.22 billion from USD759 million. Earnings before interest, tax, depreciation and amortisation increased to USD1.56 billion from USD1.14 billion.
Adjusted Ebitda, which includes the net loss or gain on financial instruments, impairment of financial assets, and other adjustments, increased 41% to USD1.61 billion from USD1.17 billion.
Revenue increased to USD2.57 billion from USD2.05 billion, with earnings from mine operations increasing to USD1.38 billion from USD1.01 billion.
Free cash flow increased 19% to a "record" USD761.4 million from USD513.7 million, which Endeavour said was largely due to higher realised gold prices, lower realised losses following the completion of its revenue protection programme, and a lower working capital outflow.
The company has also declared a "record" first-half dividend of approximately 95 US cents per share, totalling USD230.0 million, which it noted is USD80.0 million above its minimum commitment. It was up 53% from 62 cents per share for the first half of 2025.
Going forward, Endeavour said it remains on track to achieve its production guidance of between 1.1 million and 1.3 million ounces of gold.
"We are pleased with our solid operational performance in H1-2026 which has positioned us firmly on track to achieve our full-year guidance," commented Chief Executive Officer Ian Cockerill. "In Q3, as previously highlighted, we anticipate throughput and grades to be impacted by the wet season and phased waste stripping respectively, before both improve significantly in Q4.
"Our solid operational performance together with continued strength in the gold price has translated into record financial performance."
Shares in Endeavour were 2.6% higher at 3,579.00 pence on Thursday morning in London.
By Emma Curzon, Alliance News reporter
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