Evolution Mining doubles profit on record gold output, higher prices
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The news: Evolution Mining has reported a 119% lift in statutory net profit after tax for the 2025 financial year, after the gold miner posted record annual production amid gold prices that were 35% higher year on year.
The numbers: Statutory net profit after tax was $926 million up from $422.3 million last year and better than market estimates of $541.53 million, according to Visible Alpha data.
The company also posted a 51% year-on-year increase in EBITDA to just under $2.2 billion and record earnings per share of 46 cents, up 111% year on year.
Record gold production of 750,512 ounces was also reported in addition to an achieved gold price of $4,300 per ounce, a 35% uplift year on year.
The miner reported a final fully franked dividend of 13 cents per share, up from 5 cents last year and meeting consensus forecasts of 13 cents. The record date is 4 September.
The miner is also guiding gold production from 710,000 to 780,000 ounces and copper production of 70,000 to 80,000 ounces for FY26 and all-in sustaining cost of $1,720 and $1,880 per ounce.
What they said: "The record financial performance in FY25 was achieved through safely delivering to plan across all of our operations," Evolution managing director and CEO Lawrie Conway said.
He also noted that Evolution's "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".
