OceanaGold\u00a0Corp’s.\u00a0(TSX: OGC; ASX: OGC) stock was up 5.4% on Tuesday after reporting annual revenue in 2018 of $773 million and net profit before unrealised gains or losses on undesignated hedges of $124 million.<\/p>\n
Earnings before interest, tax, depreciation and amortization (EBIDTA) came in at $364 million.<\/p>\n
The company generated about $121 million in free cash flow, $346 million in operating cash flow.\u00a0 At the end of the year, OceanaGold had $108 million in cash, excluding about $55 million held in strategic equity investments.<\/p>\n Net debt at the end of the year stood at $69 million.<\/p>\n Commenting on the results, president and CEO Mick Wilkes noted the company\u2019s cash balance increased 47% year-on-year \u201creflecting the company\u2019s consistent profitability over the past several years.\u201d<\/p>\n \u201cOur net debt reduced by 59% over the past year,\u201d he added, \u201creflecting the strong cash flow generation in 2018 and our commitment to strengthen our balance sheet through discretionary debt repayments.\u201d<\/p>\n \u201cIn 2018, OceanaGold delivered an EBITDA margin of 47% while we achieved the ninth consecutive year of positive returns on invested capital.\u201d<\/p>\n The company produced a total of 533,300 ounces of gold during the year at cash costs of $489 per oz., and all-in-sustaining costs of US$767 per oz.<\/p>\n At market close in Toronto, OceanaGold was trading at $4.48 per share within a 52-week trading range of $3.12 and $5.01.<\/p>\n The post OceanaGold’s shares up after reporting 2018 financials<\/a> appeared first on MINING.com<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":" The company’s cash balance increased 47% year-on-year. <\/p>\n The post OceanaGold’s shares up after reporting 2018 financials<\/a> appeared first on 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2018, OceanaGold delivered an EBITDA margin of 47% while achieving the ninth consecutive year of positive returns on invested capital.<\/q><\/p>\n