Eldorado Gold Reports Strong 2025 Results, Skouries Project on Track for Q3 2026 Production, Initiates Dividend

summarizeSummary

Eldorado Gold reported strong financial results for 2025, driven by higher gold prices, and confirmed its Skouries Project is on track for first production in Q3 2026, alongside initiating a quarterly dividend.

check_boxKey Events

• Strong 2025 Financial Performance

  Revenue increased by 38% to $1.82 billion, and net earnings attributable to shareholders from continuing operations rose by 73% to $519.9 million in 2025, primarily due to higher average realized gold prices.

• Skouries Project Nearing Production

  The Skouries Project is on track for first copper-gold concentrate production in early Q3 2026 and commercial production by Q4 2026, with overall project progress at 78% complete for Phase 2 construction.

• Increased 2026 Production Guidance

  Total gold production for 2026 is projected to be between 490,000 and 590,000 ounces, including 60,000 to 100,000 ounces from the Skouries Project.

• Significant Capital Investment in Skouries

  Free cash flow was negative $232.9 million in 2025, primarily reflecting substantial capital expenditures of $561.3 million for the Skouries Project's development.

auto_awesomeAnalysis

The company delivered robust financial performance in 2025 with significant increases in revenue and net earnings, primarily driven by higher gold prices. A key highlight is the Skouries Project nearing completion, with first concentrate production anticipated in early Q3 2026 and commercial production by Q4 2026, marking a pivotal growth catalyst. While free cash flow was negative due to substantial capital investment in Skouries, the project's progress and the initiation of a quarterly dividend program signal confidence in future profitability and shareholder returns. The 2026 guidance projects increased gold production, largely from Skouries, despite expected higher operating costs.