Key figures
Consolidated income statement, MSEK |
2021 |
2020 |
2019 |
2018 |
2017 |
| Total income | 5 | 13.1 | 5.8 | 105.3 | 122.6 |
| Adjusted EBITDA (1) | -118.2 | -108 | -48.8 | 5.9 | -5.7 |
| EBIT | -255.2 | -184.7 | -52.5 | -48.5 | -64.8 |
| Net income | -261.1 | -197 | -76.7 | -37.4 | -69.3 |
| Total comprehensive income | -231.1 | -259 | -64.9 | -12.4 | -69.2 |
| Consolidated statement of financial position, MSEK |
2021 |
2020 |
2019 |
2018 |
2017 |
| Intangible assets | 319.5 | 387.7 | 371.3 | 355.3 | 63.1 |
| Tangible assets | 202.3 | 175 | 195.7 | 155.7 | 62.2 |
| Other investments | 5.4 | 5.3 | 5.5 | 5.4 | 5.2 |
| Current assets excl. cash and cash equivalents | 26.5 | 5.8 | 1.4 | 5.5 | 14.3 |
| Cash and cash equivalents | 12.3 | 11.3 | 15.7 | 18.9 | 15.8 |
| Total assets | 565.8 | 584.9 | 589.6 | 500.9 | 160.6 |
| Total equity | 310 | 330.7 | 336 | 251.7 | 45.4 |
| Provisions | 13.3 | 13.2 | 13.1 | 9.4 | 8.1 |
| Derivative instruments | 8.8 | 0 | 0 | 0 | 0 |
| Borrowings | 6.6 | 14.4 | 7.2 | 35.3 | 83.6 |
| Other liabilties | 227.1 | 226.7 | 233.3 | 204.5 | 23.5 |
| Consolidated cash flow statement, MSEK |
2021 |
2020 |
2019 |
2018 |
2017 |
| Cash flow from operations | -108.7 | -76.9 | -78.9 | -7.6 | 1 |
| Cash flow from investments | -50 | -26.6 | -80.3 | -158.9 | -12.3 |
| Cash flow from financing | 159.7 | -103.5 | -155.9 | 166.9 | -2.4 |
| Total cash flow for the period | 0.9 | -4.4 | -3.3 | 0.4 | -13.7 |
Key Figures |
2021 |
2020 |
2019 |
2018 |
2017 |
| Production | |||||
| Milled ore (tonnes) | 4 950 | 6 658 | 0 | 116 456 | 165 539 |
| Head grade (Au gram/tonne) | 2.9 | 3.5 | 0 | 3.3 | 2.9 |
| Gold recovery (%) | 84 | 71.5 | 0 | 82.6 | 83.4 |
| Hourly utilization (%) | 55.5 | 35.7 | 0 | 39.3 | 38.8 |
| Gold production (kg) | 14.3 | 16.7 | 0 | 331.3 | 398.1 |
| Gold production (oz) | 460.3 | 538.1 | 0 | 10 651 | 12 799 |
| Cost per milled ore ton (EUR) (2) | -2 | 0 | 0 | 0 | 66 |
| Cost per milled ore ton (SEK) (2) | -2 | 0 | 0 | 0 | 677 |
| Cash Cost (USD/oz) (3) | -3 | 0 | 0 | 0 | 981 |
| Financial | |||||
| Revenue growth rate | -62 % | 126 % | -94 % | -14 % | 21 % |
| EBITDA margin (4) | -4 | -2364 % | -596 % | -841 % | 6 % |
| Operating margin (EBIT margin) (5) | -5 | -5102 % | -1410 % | -905 % | -46 % |
| Net margin (6) | -6 | -5222 % | -1504 % | -1322 % | -36 % |
| Equity ratio (7) | -7 | 55 % | 57 % | 57 % | 50 % |
| Net interest-bearing debt (8) | -8 | 171.8 | 195.3 | 199.6 | 185.3 |
| Net gearing (9) | -9 | 49 % | 59 % | 59 % | 74 % |
| Return on equity (10) | -10 | -82 % | -59 % | -26 % | -25 % |
| Average number of employees | 53 | 46 | 34 | 38 | 42 |
| Per share figures, SEK |
2021 |
2020 |
2019 |
2018 |
2017 |
| Earnings per share | -1.26 | -1.67 | -1.28 | -1.1 | -6.6 |
| Equity per share (11) | -11 | 1.37 | 2.52 | 4.2 | 7.37 |
| Weighted average number of shares (thousands) (12) | -12 | 207 698 | 117 811 | 59 705 | 34 122 |
| Number of shares at the end of period (thousands) (13) | -13 | 225 794 | 131 305 | 79 957 | 35 147 |
| Share price at the end of period (14) | -14 | 2.66 | 2.79 | 5.6 | 6 |
| Market capitalization at the end of period (MSEK) | 600.6 | 366.3 | 451 | 212.4 | 173 |
Definitions of the key figures
Endomines provides measures prepared in accordance with IFRS as well as some non-IFRS performance measures (referred to also as “alternative performance measures”). Non-IFRS measures have limitations as analytical tools and they should be not used as sole or substitute measures to analyze companies. The alternative performance measures are provided to help investors better assess the Company’s operating result and anticipated results as well as to facilitate comparisons between results for different periods. The management uses alternative performance measures to, among others, evaluate ongoing operation against past results, for internal planning and for forecasts.
| Adjusted EBITDA | (1) | Earnings before depreciation, impairments, unrealized profit/loss on derivative instruments and other reported adjustment items | ||||
| Cost per milled ton of ore | (2) | Production cost, excluding depreciation, other capital costs etc. divided by ore tons processed. Conversion from EUR to SEK is done by average rate. | ||||
| Cash Cost (USD/oz) | (3) | Cash cost per ounce is calculated based on the guidance issued by The Gold Institute Production Cost Standard. Mining, ore processing and site administration and off-site smelting and refining costs are included in cash cost while depreciations, capital and exploration costs are excluded. “Cash Cost” figure is furnished to provide additional information and is a non-IFRS measure. Translation from EUR to USD is done at average rate. | ||||
| EBITDA margin | (4) | Adjusted EBITDA as per cent of total revenues | ||||
| Operating margin | (5) | EBIT as per cent of total revenues | ||||
| Net margin | (6) | Net income as per cent of total revenues | ||||
| Equity ratio | (7) | Equity as per cent of total assets | ||||
| Net interest-bearing debt | (8) | Total borrowings less cash and cash equivalents | ||||
| Gearing | (9) | Net debt divided by equity | ||||
| Return on equity | (10) | Earnings after tax divided by average equity (opening and closing equity for the period) | ||||
| Weighted average number of shares (thousands) | (12) | Adjusted for share issues as the case may be | ||||
| Number of shares at the end of period (thousands) | (13) | Adjusted for share issues as the case may be | ||||
| Share price at the end of period (SEK) | (14) | Adjusted for share issues as the case may be | ||||
