Evolution Mining has attributed its best-ever financial results to strong operational delivery, higher commodity prices and disciplined capital management.
The company achieved a record statutory net profit of $926 million and an underlying net profit of $958 million for the 2024–25 financial year (FY25), up 119 per cent and 99 per cent, respectively, from FY24. Underlying earnings before interest, taxes, depreciation and amortisation (EBITDA) rose 46 per cent to $2.2 billion, with earnings per share more than doubling to $0.46.
Shareholders will receive a fully franked final dividend of $0.13 per share, nearly triple last year’s payout, bringing the total FY25 dividend to a record $0.20 cents per share.
“The result was underpinned by safe, consistent performance across all sites,” Evolution Mining managing director and chief executive officer Lawrie Conway said.
“The record financial performance in FY25 was achieved through safely delivering to plan across all of our operations. This is a great credit to the efforts of our employees and contractors who I sincerely thank for their achievements.”
Operational highlights for Evolution included record output and cash flow at its Cowal, Ernest Henry, Mungari and Red Lake mine, as well as strong contributions from Northparkes and Mt Rawdon. The Cowal Open Pit Continuation project was also approved, extending operations to 2042 with a $430 million investment.
“Our cost and production performance in the year saw our balance sheet continue to strengthen, with gearing levels falling while successfully delivering several major capital projects,” Conway said.
Want to connect with the mining industry, register to attend AIMEX and WA Mining Conference.
