Global Atomic Announces Results For Financial Year 2018

April 29, 2019

Consolidated Net Income Increased 45% to $7.4 million

Attributable EBITDA Increased 26% to $13.5 million

Toronto, ON, April 29, 2019: Global Atomic Corporation (“Global Atomic” or the “Company”), (TSX-V: GLO, FRANKFURT: G12) is pleased to announce its operating and financial results for the fourth quarter (“Q4”) and financial year ended December 31, 2018.

HIGHLIGHTS

Financials

  • Consolidated net income for the Company was $7.4 million for 2018, up from $5.1 million in 2017.
  • The Company’s working capital surplus was $7.3 million at the end of 2018, up from a deficit of $1.0 million for 2017.
  • The Company’s 49% share of EBITDA of the Turkish joint venture was $13.5 million in 2018, up from $10.7 million in 2017; the Company’s 49% share of joint venture net income was $10.5 million in 2018, up from $6.9 million in 2017.
  • The Turkish joint venture shipped 20,821 tonnes zinc concentrate containing 31.6 million pounds zinc, compared to shipments of 21,349 tonnes in 2017 containing 32.9 million pounds zinc.
  • The Company received dividends of $6.9 million from the Turkish joint venture in 2018 compared to $4.5 million in 2017. Additionally, the Company received management fees and sales commissions of $0.9 million in each of 2018 and 2017.

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