Endeavour Mining Investor Presentation Deck
NET EARNINGS FROM CONTINUING OPERATIONS
Adjusted EPS increased in Q1-2022 compared to Q4-2021
INSIGHTS
1. Corporate costs decreased during the quarter
primarily due the cessation of costs associated
with corporate integration and the LSE listing
that were previously incurred.
2. The loss on financial instruments was $179m
million in Q1-2022 mainly due to an unrealised
loss on gold forward sales of $79m and an
unrealised loss on gold collars of $44m. In
addition, the loss included a foreign exchange
loss of $20m, an unrealised loss on the
revaluation of the conversion option on
convertible notes of $18m, a realised loss on
gold forward sales of $7m, a loss on change in
fair value of the call rights of $4m, a loss on
early redemption feature of senior notes of
$4m, and a loss on change in fair value of
warrant liabilities of $3m.
3. For Q1-2022, current income tax increased to
$75m due largely to increased tax expenses at
Mana which were due to an increase in taxable
income relative to a reduction in tax provisions
in Q4-2021 and at Sabodala-Massawa where a
tax expense related to the start-up of mining at
the Massawa pits was incurred.
(in $ million)
A = Adjustments made for Adjusted Net Earnings
EARNINGS FROM CONTINUING MINE OPERATIONS
Corporate costs
A Acquisition and restructuring costs
Impairment charge of mining interests
Share based compensation
Exploration costs
EARNINGS FROM CONTINUING OPERATIONS
A (Losses)/gains on financial instruments
Finance costs
Other income (expenses)
A Current income tax expense
Deferred taxes recovery (expense)
TOTAL NET AND COMPREHENSIVE EARNINGS (LOSS) FROM CONT. OPS
Add-back adjustments¹
ADJUSTED NET EARNINGS/(LOSS)²
Portion attributable to non-controlling interests²
ADJUSTED NET EARNINGS PER SHARE FROM CONTINUING OPERATIONS²
1
2
3
ENDEAVOUR
(1) Other adjustments not annotated (A) on this slide are non-cash and other adjustments (2) Additional notes available in Endeavour's Management Report. (3) adjusted for continuing operations
MINING
3 MONTHS ENDED
31 March,
2022
276
(14)
(8)
(7)
247
(179)
(15)
(2)
(75)
(11)
(35)
180
145
22
0.49
31 December,
2021³
203
(20)
(1)
(248)
(7)
(5)
(78)
19
(25)
(3)
(38)
34
(92)
235
142
(6)
0.59
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