OceanaGold (TSX: OGC; ASX: OGC) reported annual revenue in 2018 of US$773 million and net profit before unrealized gains or losses on undesignated hedges of US$124 million.
Earnings before interest, tax, depreciation and amortization (EBIDTA) came in at US$364 million.
The company generated about US$121 million in free cash flow and US$346 million in operating cash flow.
At the end of the year, OceanaGold had US$108 million in cash, excluding about US$55 million held in strategic equity investments.
Net debt at the end of the year stood at US$69 million.
Commenting on the results, president and CEO Mick Wilkes noted the company's cash balance increased 47% year-on-year, "reflecting the company's consistent profitability over the past several years."
"Our net debt reduced by 59% over the past year," he added, "reflecting the strong cash flow generation in 2018 and our commitment to strengthen our balance sheet through discretionary debt repayments."
"In 2018, OceanaGold delivered an EBITDA margin of 47% while we achieved the ninth consecutive year of positive returns on invested capital."
The company produced a total of 533,300 oz. gold during the year at cash costs of US$489 per oz., and all-in-sustaining costs of US$767 per oz.
At press time in Toronto, OceanaGold was trading at $4.48 per share within a 52-week trading range of $3.12 and $5.01.
The company has about 619 million shares outstanding for a market cap of roughly $2.8 billion.