Vermilion Energy Reports 2024 Results & European Gas Discovery

TL;DR

Vermilion Energy dropped its 2024 results and a big European gas find on March 5th.

AI Summary

Vermilion Energy Inc. announced its results for the year ended December 31, 2024, and a significant European gas discovery on March 5, 2025. The company filed a Form 6-K report with the SEC detailing these events. Vermilion Energy Inc. is incorporated in Alberta, Canada, and its principal executive offices are located in Calgary.

Why It Matters

This filing provides investors with the company's annual financial performance and highlights a potentially significant new gas discovery in Europe, which could impact future production and revenue.

Risk Assessment

Risk Level: medium — The filing discusses financial results and a new discovery, which inherently carry market and operational risks for an energy company.

Key Players & Entities

• Vermilion Energy Inc. (company) — Registrant
• March 5, 2025 (date) — Date of News Release
• December 31, 2024 (date) — Year End for Results
• Calgary, Alberta (location) — Principal Executive Offices

FAQ

From the Filing

0001279569-25-000236.txt : 20250306 0001279569-25-000236.hdr.sgml : 20250306 20250306132725 ACCESSION NUMBER: 0001279569-25-000236 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20250305 FILED AS OF DATE: 20250306 DATE AS OF CHANGE: 20250306 FILER: COMPANY DATA: COMPANY CONFORMED NAME: VERMILION ENERGY INC. CENTRAL INDEX KEY: 0001293135 STANDARD INDUSTRIAL CLASSIFICATION: CRUDE PETROLEUM & NATURAL GAS [1311] ORGANIZATION NAME: 01 Energy & Transportation IRS NUMBER: 000000000 STATE OF INCORPORATION: A0 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 6-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-35829 FILM NUMBER: 25714523 BUSINESS ADDRESS: STREET 1: 3500, 520 - 3RD AVENUE S.W. CITY: CALGARY STATE: A0 ZIP: T2P 0R3 BUSINESS PHONE: 403-269-4884 MAIL ADDRESS: STREET 1: 3500, 520 - 3RD AVENUE S.W. CITY: CALGARY STATE: A0 ZIP: T2P 0R3 FORMER COMPANY: FORMER CONFORMED NAME: VERMILION ENERGY TRUST DATE OF NAME CHANGE: 20040607 6-K 1 vermilion6k.htm FORM 6-K UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER Pursuant to Rule 13a-16 or 15d-16 Under the Securities Exchange Act of 1934 For the month of March 2025 Commission File Number: 001-35829 Vermilion Energy Inc. (Exact name of registrant as specified in its charter) 3500, 520 – 3 rd Avenue S.W., Calgary, Alberta T2P 0R3 (Address of principal executive offices) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. Form 20-F ☐ Form 40-F ☒ Exhibit Exhibit Description 99.1 News Release dated March 5, 2025 - Vermilion Energy Inc. Announces Results for the Year Ended December 31, 2024 and Significant European Gas Discovery SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. 	 	 VERMILION ENERGY INC. By: /s/ Lars Glemser Title: Lars Glemser, VP and Chief Financial Officer Date: March 5, 2025 EX-99.1 2 ex991.htm NEWS RELEASE DATED MARCH 5, 2025 Exhibit 99.1 Vermilion Energy Inc. Announces Results for the Year Ended December 31, 2024 and Significant European Gas Discovery CALGARY, AB, March 5, 2025 /CNW/ - Vermilion Energy Inc. ("Vermilion" or the "Company") (TSX: VET) (NYSE: VET) is pleased to report operating and condensed financial results for the year ended December 31, 2024. The audited financial statements, management discussion and analysis and annual information form for the year ended December 31, 2024 will be available on the System for Electronic Document Analysis and Retrieval Plus ("SEDAR+") at www.sedarplus.ca , on EDGAR at www.sec.gov/edgar.shtml , and on Vermilion's website at www.vermilionenergy.com . Highlights Year End 2024 Results Fund flows from operations ("FFO") (1) was $1,206 million ($7.63/basic share) (2) , representing a 6% increase over the prior year, or 9% on a per basic share basis, reflecting the positive impact from our share repurchase program. Free cash flow ("FCF") (4) of $583 million increased 9% on a per basic share basis relative to 2023. Net loss was $47 million ($0.30/basic share) compared to $238 million net loss ($1.45/basic share) in the prior year. The current year net loss was impacted by unrealized losses on derivative instruments and unrealized foreign exchange losses due to a weakening Canadian dollar. Net debt (5) decreased by over $110 million to $967 million, representing a net debt to four quarter trailing FFO ratio (6) of 0.8 times. The Company fully repaid the $79 million lease obligation associated with the Montney Battery construction completed in 2024, implying approximately $190 million of effective debt reduction. Vermilion returned $216 million ($1.37/basic share) to shareholders through dividends and share buybacks, representing 52% of excess free cash flow