Vermilion Energy · Q2 2025 earnings

Briefing

Q2 FFO $260M ($1.68/share); production 136,002 boe/d before asset sales

Vermilion Energy reported Q2 2025 fund flows from operations (FFO) of $260 million ($1.68 per basic share), up from $256 million in Q1 2025, with production averaging 136,002 boe/d (63% natural gas, 37% oil and liquids). The company reported a net loss of $233 million ($1.51/share) due to a $308 million non-cash loss from discontinued operations related to Saskatchewan and U.S. asset divestitures, while continuing operations earned $74 million ($0.48/share). North American production averaged 106,379 boe/d including Westbrick Deep Basin integration; international assets contributed 29,623 boe/d. Net debt fell from $2.1B to $1.4B (1.4x trailing FFO). Vermilion returned $26M to shareholders via dividends and buybacks and declared a $0.13/share quarterly dividend.

• FFO $260M ($1.68/share) vs $256M in Q1; production 136,002 boe/d before planned divestitures
• Continuing operations net earnings $74M ($0.48/share); reported net loss $233M includes $308M discontinued ops charge
• Net debt reduced to $1.4B (1.4x trailing FFO) from $2.1B at March 31
• Closed Saskatchewan and U.S. divestitures for $535M gross proceeds post-quarter to further reduce debt
• Q3 production outlook 117,000–120,000 boe/d (67% gas); $0.13/share dividend declared

Headline financials

Revenue & EPS history

2025 capital budget and guidance unchanged from June 5 update. Q3 2025 production expected 117,000–120,000 boe/d (67% natural gas) reflecting Saskatchewan and U.S. divestiture closings, seasonal turnarounds, and shut-ins.