EURO Ressources

EURO RESSOURCES REPORTS EARNINGS FOR THE YEAR ENDED DECEMBER 31, 2013 - Seite 4

Three months ended December 31, 2013 compared to three months ended December 31, 2012

Under IFRS, EURO recorded a net profit of €9.8 million (€0.156 per share) for the fourth quarter of 2013 compared to a net profit of €7.4 million (€0.117 per share) for the fourth quarter of 2012.

EURO recorded revenues from ordinary activities of €5.1 million for the fourth quarter of 2013, a decrease of 54% compared to revenues of €11.1 million for the fourth quarter of 2012.  Revenues are essentially attributable to the Rosebel royalty with €5.1 million (2012: €11.0 million).  The decrease in revenues is substantially due to the decrease in gold production with 74,216 ounces of gold produced in the fourth quarter of 2013, as compared to 104,919 ounces of gold produced during the fourth quarter of 2012, for €3.2 million, the decrease in the fourth quarter of 2013 average gold price of US$1,276 per ounce of gold compared to US$1,722 per ounce of gold in the fourth quarter of 2012, for €2.5 million, and to the strengthened euro currency for €0.2 million.

Operating expenses for the fourth quarter of 2013 were €0.2 million similar to operating expenses of €0.2 million incurred in the same quarter of 2012.

The decrease in amortization expense to €0.1 million in the fourth quarter of 2013 (fourth quarter of 2012: €0.2 million), is substantially due to decrease in gold production at the Rosebel mine.

EURO recorded an income tax expense of €4.8 million during the fourth quarter of 2013 compared to €3.8 million during fourth quarter of 2012.  The increase is mainly due to the income tax impact of the exercise of the Option agreement partially offset by the decrease in royalty revenues in 2013 compared to 2012.

About EURO

EURO is a French company whose principal asset is the Rosebel royalty on gold production at the Rosebel mine operated by IAMGOLD Corporation ("IAMGOLD").  EURO has approximately 62.5 million shares outstanding.  IAMGOLD France S.A.S., an indirect wholly owned subsidiary of IAMGOLD, owns today approximately 86% of all outstanding shares.

Statements Regarding Forward-Looking Information:   Some statements in this news release are forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain and involve risks and uncertainties.   There can be no assurance that future developments affecting the Company will be those anticipated by management.

Not for distribution to United States newswire services or for dissemination in the United States. The securities referred to herein have not been registered under the United States Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in the United States or to a U.S. person absent registration, or an applicable exemption from the registration requirements of, the Securities Act.

Additional information relating to EURO Ressources S.A. is available on SEDAR at www.sedar.com.  Further requests for information should be addressed to:

EURO RESSOURCES REPORTS EARNINGS FOR THE YEAR ENDED DECEMBER 31, 2013

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: EURO Ressources via Globenewswire

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