Trevali Reports Q1-2018 Financial Results
EBITDA(1) of $59 million on net revenues of $115 million;
Cash position of $120 million and working capital of $180 million;
Net profit of $28.6-million or $0.03 per share
All financial figures are in U.S. dollars.
Vancouver, British Columbia: Trevali Mining Corporation (“Trevali” or the “Company”) (TSX: TV; BVL: TV; OTCQX: TREVF; Frankfurt: 4TI) has released financial results for the three months ending March 31, 2018 (“Q1”), reporting net income of $28.6 million ($0.03 per share) and EBITDA(1) of $59 million on net revenues of $115 million.
- Consolidated zinc production of 98.7 million payable pounds, lead production of 12.3 million payable pounds and 336,927 payable ounces of silver.
- Revenues of $115 million for the quarter, up 187% from $40 million for Q1-2017.
- Net income of $28.6-million ($0.03 per share), versus $2.7 million ($0.01 per share) for Q1-2017
- Record quarterly EBIDTA(1) of $59 million, up 321% from $14 million in Q1-2017.
- Cash and cash equivalents of $120.5 million, up 28% from $94.1 million as of year-end 2017.
- Working capital of $180 million, up 25% from $144 million as of year-end 2017.
- Debt reduction of $8 million on the Term Facility as part of the long-term debt repayment schedule.
- EBITDA (earnings before interest, taxes, depreciation and amortization) of a business gives an indication of its current operational profitability and is a non-IFRS measure and is calculated on 100% basis. Please refer to non-IFRS Measures in the Cautionary Note Regarding Forward-Looking Statements at the end of this news release and in Trevali’s March 31, 2018 Management’s Discussion and Analysis.
This news release should be read in conjunction with Trevali’s unaudited condensed consolidated financial statements and management’s discussion and analysis for the three months ended March 31, 2018, which is available on Trevali’s website and on SEDAR. Certain financial information is reported herein using non-IFRS measures. Please refer to non-IFRS Measures in the Cautionary Note Regarding Forward-Looking Statements at the end of this news release and in Trevali’s March 31, 2018 Management’s Discussion and Analysis.
“First quarter production was in line with annual guidance range and demonstrated the robust cash flow generation capacity of our mines,” stated Dr. Mark Cruise, Trevali’s President and CEO. “As previously stated, first quarter production was planned to be lower than subsequent quarters, reflecting scheduled maintenance at Santander operations and winter conditions at Caribou. We are continuing to further optimize the operations and anticipate strong performance for the balance of the year.”
Q1-2018 Financial Results Conference Call:
The Company will host a conference call and audio webcast at 10:30AM Eastern Time on Friday, May 11, 2018 to review the operating and financial results. Participants are advised to dial in 5-to-10 minutes prior to the scheduled start time of the call.
Q1-2018 Results Presentation: https://www.trevali.com/site/assets/files/3316/trevali_presentation_-_q1-2018_results.pdf
Conference call dial-in details:
Toll-free (North America): 1-877-291-4570
Toronto and international: 1-647-788-4919
Audio Webcast: http://www.gowebcasting.com/9278
Read More: https://www.trevali.com/news/2018/trevali-reports-q1-2018-financial-results/