13.03.2018

Trevali Reports 2017 Annual Financial Results

EBITDA(1) of $101 million on net revenues of $330.5 million;
Cash position of $97.3 million and working capital of $144 million;
Net profit of $20.2-million or $0.03 per share;
Adjusted EBITDA(1) (5) (6) of $162 million and adjusted after tax earnings(5) of $60 million or $0.11 adjusted earnings per share(5)

All financial figures are in U.S. dollars unless otherwise indicated.

Vancouver, British Columbia: Trevali Mining Corporation (“Trevali” or the “Company”) (TSX: TV; BVL: TV; OTCQX: TREVF; Frankfurt: 4TI) has released its audited annual financial results for the year ending December 31, 2017, with net income of $20.2 million, or $0.03 per share, and EBITDA(1) of $101 million on total revenues of $330.5 million. Fourth quarter (“Q4”) net income was $25.2 million, or $0.03 per share, and EBITDA(1) was $56.3 million on net concentrate sales revenues of $188.8 million.

Factoring in material one-time expenses related to the August 31, 2017 African asset acquisition(5) the adjusted EBITDA(1) (5) (6) is $162 million, equating to adjusted after-tax earnings(5) of $60 million or $0.11 adjusted earnings per share.(5)

2017 Annual Results Highlights:

  • Annual consolidated zinc production of 225.1 million payable lbs., lead production of 45.8 million payable lbs. and 1.56 million payable ozs. of silver; or 281.3 million payable lbs. of Zinc Equivalent (“ZnEq”)(2)(5)
  • Consolidated site cash operating costs of $0.46 per pound of payable ZnEq produced(5) or $57.36/tonne milled and all in sustaining costs(5) of $0.67 per pound of payable ZnEq produced
  • Concentrate sales revenue of $330.5 million, up approximately 220% versus 2016
  • EBITDA(1) of $101 million, up 141% from $42 million in 2016;  and annual net income of $20.2 million or $0.03 per share
  • Income from mine operations of $86.1 million, up 203% from $28.4 million in 2016
  • Total cash position of $97.3 million and working capital of $144 million
  • Provisional realized commodity selling prices for 2017 sales was $1.38 per pound zinc, $1.07 per pound lead and $16.99 per ounce silver

 

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