Evolution Mining reports strong FY25 performance, significant dividend increase

Evolution Mining Limited reported strong financial performance for FY25, with an underlying EBITDA of A$2,207m and an EBITDA margin of 51%. The company declared its 25th consecutive dividend, totaling A$0.13 per share, three times the FY24 dividend. Operational highlights included gold production of 751,000 ounces and copper production of 76,000 tonnes, meeting its FY25 guidance. The All-in Sustaining Cost (AISC) was A$1,572/oz, demonstrating sector-leading cost efficiency.

Looking ahead to FY26, Evolution Mining projects gold production between 710,000 to 780,000 ounces and copper production between 70,000 to 80,000 tonnes. The FY26 AISC is guided to be between US$1,120/oz and US$1,225/oz. Key projects advancing include the Mungari plant expansion, nine months ahead of schedule and under budget, forecast to increase production by approximately 41% in FY26. Additionally, Cowal operations have been extended to 2042 with continued open pit mining.

The company's balance sheet flexibility has been enhanced with gearing at 15%, down from 33% in September 2023, reflecting its commitment to strong shareholder returns. Evolution Mining also emphasizes its focus on sustainability, with a 35% improvement in Total Recordable Injury Frequency (TRIF) and a 17% reduction in net zero emissions for FY25.