checkAd

    EURO Ressources  914  0 Kommentare EURO RESSOURCES REPORTS EARNINGS FOR THE YEAR ENDED DECEMBER 31, 2013

    PARIS, France, February 21, 2014:  EURO Ressources S.A. ("EURO" or the "Company") (Paris: EUR) today announced its audited statutory financial results prepared in accordance with  French Generally Accepted Accounting Principles ("GAAP") and its audited financial results prepared in accordance with International Financial Reporting Standards ("IFRS") for the year ended December 31, 2013.  These audited financial results were approved by the Board of Directors on February 21, 2014.  All financial amounts are expressed in Euros unless otherwise specified.

    Under French GAAP, EURO reported a net profit of €23.3 million (€0.373 per share) for the year ended December 31, 2013, compared to €25.3 million (€0.405 per share) for the year ended December 31, 2012. 

    Under IFRS, EURO reported a net profit of €23.8 million (€0.381 per share) in 2013, compared to €25.1 million (€0.401 per share) in 2012. 

    Highlights for 2013

    • Under French GAAP and IFRS, EURO recorded revenues from ordinary activities of €29.3 million for 2013, a decrease of 29% as compared to €41.5 million for 2012.
    • Following the exercise of the Option agreement by COLUMBUS Gold Corp. ("COLUMBUS"), EURO realized a gain of €10.0 million in 2013.
    • EURO distributed a dividend in the amount of €22.5 million (€0.36 per share) in 2013 compared to 18.1 million (€0.29 per share) in 2012.

    "Despite the volatility in the gold price, EURO remains in excellent financial shape with free cash flow to continue with its current strategy and to consider other potential value adding transactions" stated Benjamin Little, Directeur général.

    The following comments on the financial results for the year ended December 31, 2013 are taken from the French "Rapport de Gestion" (equivalent of Management's Discussion and Analysis).

    Under French GAAP, EURO recorded revenues from ordinary activities of €29.3 million for 2013, a decrease of 29% compared to revenues of €41.5 million for 2012.  Revenues are essentially attributable to the Rosebel royalty for €28.9 million (2012: €41.1 million).  The decrease in revenues is substantially due to the decrease of the 2013 average gold price of US$1,411 per ounce of gold compared to US$1,669 per ounce of gold in 2012, for €6.8 million, to the decrease in gold production with 353,677 ounces of gold produced in 2013, as compared to 402,012 ounces of gold produced during 2012, for €5.0 million, and to the strengthened euro currency for €0.4 million.

    Seite 1 von 4


    GlobeNewswire
    0 Follower
    Autor folgen

    Verfasst von GlobeNewswire
    EURO Ressources EURO RESSOURCES REPORTS EARNINGS FOR THE YEAR ENDED DECEMBER 31, 2013 PARIS, France, February 21, 2014:  EURO Ressources S.A. ("EURO" or the "Company") (Paris: EUR) today announced its audited statutory financial results prepared in accordance with  French Generally Accepted Accounting Principles ("GAAP") and its …