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Segment information
12 Months Ended
Dec. 31, 2024
Disclosure of operating segments [abstract]  
Segment information
34. Segment information
Identification of reportable segments
The Company has identified its operating segments based on the internal reports that are reviewed and used by the chief executive officer and the executive management (the chief operating decision makers or "CODM") in assessing performance and in determining the allocation of resources.
The CODM consider the business from both a geographic and product perspective and assess the performance of the operating segments based on measures of profit and loss as well as assets and liabilities. These measures include earnings (loss) from mine operations, expenditures on exploration, property, plant and equipment and non-current assets, as well as total debt. As at December 31, 2024, Eldorado had five reportable segments based on the geographical location of mining and exploration and development activities.
Geographical segments
Geographically, the operating segments are identified by country and by operating mine. The Turkiye reporting segment includes the Kişladağ and the Efemçukuru mines and exploration activities in Turkiye. The Canada reporting segment includes Lamaque and exploration activities in Canada. The Greece reporting segment includes the Olympias mine, the Skouries and Perama Hill projects and exploration activities in Greece. The Greece segment also includes the Stratoni mine and mill, which transitioned to care and maintenance during 2022. The Romania reporting segment includes the Certej project and exploration activities in Romania, and is classified as a disposal group held for sale at December 31, 2024. Other reporting segment includes operations of Eldorado’s corporate offices.
Financial information about each of these operating segments is reported to the CODM on a monthly basis. The mines in each of the reporting segments share similar economic characteristics and have been aggregated accordingly.
34. Segment information (continued)
As at and for the year ended December 31, 2024TurkiyeCanadaGreeceRomania*OtherTotal
Earnings and loss information
Revenue$623,389 $473,037 $226,155 $— $— $1,322,581 
Production costs262,573 140,288 161,297 — — 564,158 
Depreciation and amortization125,581 71,799 54,070 — — 251,450 
Earnings from mine operations$235,235 $260,950 $10,788 $— $— $506,973 
Other significant items of income and expense
Write-down of assets$3,938 $1,857 $340 $— $— $6,135 
Exploration and evaluation expenses9,637 10,062 495 — 3,594 23,788 
Mine standby costs— 1,583 9,686 — — 11,269 
Income tax expense44,224 82,300 7,626 — 608 134,758 
Loss from discontinued operations, net of tax attributable to shareholders of the Company— — — (11,788)— (11,788)
Capital expenditure information
Additions to property, plant and equipment during the year (**)$141,444 $104,616 $362,457 $— $11,748 $620,265 
Capitalized interest— — 33,839 — — 33,839 
Information about assets and liabilities
Property, plant and equipment$839,030 $754,566 $2,511,051 $— $14,135 $4,118,782 
Goodwill— 92,591 — — — 92,591 
$839,030 $847,157 $2,511,051 $— $14,135 $4,211,373 
Debt$— $— $424,422 $— $491,003 $915,425 

* Discontinued Operations (Note 6).
** Presented on an accrual basis; excludes asset retirement adjustments. Excludes capital expenditure from discontinued operations.
34. Segment information (continued)
As at and for the year ended December 31, 2023TurkiyeCanadaGreeceRomania*OtherTotal
Earnings and loss information
Revenue$475,349 $346,315 $186,837 $— $— $1,008,501 
Production costs202,927 119,485 156,535 — — 478,947 
Depreciation and amortization 121,640 78,861 60,586 — — 261,087 
Earnings (loss) from mine operations$150,782 $147,969 $(30,284)$— $— $268,467 
Other significant items of income and expense
Write-down of assets$1,768 $— $7,951 $— $— $9,719 
Exploration and evaluation expenses8,625 11,076 705 — 2,016 22,422 
Mine standby costs— 3,117 12,989 — — 16,106 
Income tax expense (recovery)42,471 34,181 (15,387)— (3,690)57,575 
Loss from discontinued operations, net of tax attributable to shareholders of the Company
— — — (1,553)— (1,553)
Capital expenditure information
Additions to property, plant and equipment during the year (**)$120,113 $96,918 $180,881 $— $13,251 $411,163 
Capitalized interest— — 17,087 — — 17,087 
Information about assets and liabilities
Property, plant and equipment $831,756 $729,685 $2,179,782 $— $14,336 $3,755,559 
Goodwill— 92,591 — — — 92,591 
$831,756 $822,276 $2,179,782 $— $14,336 $3,848,150 
Debt$— $— $143,368 $— $492,691 $636,059 

* Discontinued Operations (Note 6).
** Presented on an accrual basis; excludes asset retirement adjustments. Excludes capital expenditure from discontinued operations.

The Turkiye segment derives its revenues from sales of gold and silver. The Greece segment derives its revenue from sales of gold, zinc and lead-silver concentrates. The Canadian segment derives its revenue from sales of gold and silver. For the year ended December 31, 2024, revenue from one customer of the Company’s Turkiye segment represents approximately $419.6 million (2023 – $301.7 million) of the Company’s total revenue. For the Company's Canadian segment, one customer accounted for revenue of $468.2 million (2023 – $338.2 million) of the Company’s total revenue.