GEODRILL ANNOUNCES SECOND QUARTER 2025 FINANCIAL RESULTS

- Generated Highest-Ever Quarterly Revenue and EBITDA -

TORONTO, Aug. 11, 2025 /CNW/ - Geodrill Limited ("Geodrill" or the "Company") (TSX:GEO) (OTCQX:GEODF), a leading West African based drilling company, reported its financial results for the three and six month period ended June 30, 2025. All figures are reported in U.S. dollars ($), unless otherwise indicated. Geodrill's financial statements are prepared in accordance with International Financial Reporting Standards ("IFRS").

Financial Overview Q2-2025:

Achieved highest-ever quarterly revenue of $50.4M, a 22% increase compared to Q2-2024;

Delivered record EBITDA of $13.9M, or 28% of revenue, an increase of 31% compared to Q2-2024;

Generated net income of $5.3M, or $0.11 per share, compared to $4.8M, or $0.10 per share for Q2-2024;

Reported other gain of US$1.6M from listed equity investments;

Continued to strengthen the balance sheet, achieving Total Equity of $130.3M;

Increased the total rig fleet to 99 rigs; and

Ended the quarter with net cash of $4.4M (excluding lease liabilities).

Operational and Strategic Q2-2025:

Accelerating revenue arising from robust demand for drilling services;

West Africa and Egypt continue to show strong demand, reflecting the Company's momentum in the region;

Strengthened presence in South America by adding 5 rigs in Chile in advance of a significant multi-phase contract commencing in Q3-2025; and

Benefited from continued strength in global gold exploration, supported by elevated gold prices averaging US$3,280.

Outlook:

Robust gold and copper prices continue to drive momentum in drilling service demand; and

Our bidding pipeline remains highly active, signaling sustained industry interest and opportunity.

Financial Summary

US$ 000s

(except earnings per share and percentages) 

For the three months ended June 30, 2025 

For the three months ended June 30, 2024 

For the six months ended June 30, 2025 

For the six months ended June 30, 2024 

Revenue 

$50,350

$41,176

$99,102

$75,843

Gross profit

$11,949

$12,721

$25,501

$20,165

Gross profit margin

24 %

31 %

26 %

27 %

EBITDA(1)(2)

$13,941

$10,664

$27,511

$17,328

EBITDA margin