Northern Star Resources has announced a record-breaking full-year, underpinned by strong gold prices, disciplined investment and the addition of De Grey Mining’s Hemi development project to its portfolio.
For the 2024–25 financial year (FY25), the company posted record underlying free cash flow of $536 million, up 16 per cent year-on-year, alongside underlying earnings before interest, taxation, depreciation and amortisation (EBITDA) of $3.5 billion and underlying net profit after tax of $1.4 billion, or $1.19 per share.
Revenue surged 30 per cent to $6.4 billion, reflecting a 29 per cent increase in the average realised gold price to $3922 per ounce.
Northern Star declared a fully franked final dividend of 30 cents per share, taking the FY25 payout to a record $0.55 per share.
Combined with the completed $300 million on-market share buy-back, the company has returned more than $840 million to shareholders.
“The company has delivered another record-breaking financial performance on the back of a dedicated team effort in a favourable gold price environment,” Northern Star managing director Stuart Tonkin said.
“For FY25, we reported record Group underlying free cashflow of $536 million, or $328 per ounce, which underscores the value of the profitable growth path we have been on for the past four years to deliver sustaining long-term returns for shareholders.
“The FY25 result also demonstrates the strength and value-creation that we are embedding in our business. EBITDA and ROCE (return on capital employed) metrics have shown consistent improvement over the last three years, while our investment grade balance sheet remains strong and in a net cash position.”
Looking forward, Northern Star will focus on maximising production from its three operating centres and advancing the newly acquired Hemi development project, with growth projects such as the KCGM mill expansion expected to underpin long-term margins.
“Our focus remains on unlocking the full value of our production centres and advancing the newly acquired Hemi project, which aligns with both our portfolio and purpose to responsibly deliver superior returns for shareholders,” Tonkin said.