Endomines Finland (PAMPALO) H1 2025 earnings summary

Executive summary

• Achieved record H1 2025 performance with revenue up 64% to €21.5M and gold production up 25.8% year-over-year, driven by higher gold prices and strong execution.

• EBITDA reached €7.7M (36% margin), Pampalo segment EBITDA €10M (47% margin); EBIT was €5.4M.

• Net profit improved to €2.3M from a €1.0M loss year-over-year; EPS rose to €0.2 from -€0.1.

• Strategic shift includes acquisition of Power Mining's Pampalo operations for €2.55M to accelerate growth and reduce costs from 2026.

• Focus on expanding production, critical minerals, and sustainability, with major discoveries at Ukkolanvaara and updated long-term targets.

Financial highlights

• Revenue increased 64% year-over-year to €21.5M, driven by higher gold production and prices.

• Group EBITDA was €7.7M; net result €2.3M, both significantly higher than last year.

• Pampalo segment delivered EBITDA margin of 47% and operating margin of 40%.

• Operational cash flow improved to €5.1M from negative €0.1M year-over-year.

• Cash balance at end of June was €5.5M; €3M drawn from new €8M loan facility.

Outlook and guidance

• Production guidance for 2025 is 16,000–22,000 oz, up from 14,304 oz in 2024, with higher growth expected in H2 2025.

• Long-term targets: 1.5–2.0M oz gold resources and 70,000–100,000 oz annual production by 2030.

• Plans to initiate tungsten and molybdenum production and achieve fossil-free gold by 2035.

• Gold price expected to remain high in H2.