Evolution Mining has delivered a record financial year result, with an underlying net profit of $958 million for the 2024–25 financial year (FY25) – a 99 per cent increase on FY24.
Across its portfolio of mining assets, Evolution produced 750,000 ounces of gold and 76,000 tonnes of copper across the year, an increase of five and 12 per cent respectively on FY24 outputs.
The company will pay a final dividend of $0.13 per share.
The Cowal mine in New South Wales led the way with record annual gold production in FY25. Evolution’s board has recently approved its open pit continuation project, adding a further 10 years of mine life to the asset.
The Ernest Henry mine in Queensland achieved record operating cash flow across the year.
Evolution’s Northparkes and Mungari mines also contributed to the results with cash flows of $108 million and $229 million respectively.
Evolution chief executive officer and managing director Lawrie Conway said the record result came together because each of the projects delivered to plan.
“This is a great credit to the efforts of our employees and contractors who I sincerely thank for their achievements,” he said. “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.
“Evolution remains focused on continuing to generate high cash margins in FY26 through our operational and capital management discipline to ensure the benefit of a strong commodity price environment flows through to our shareholders.”