Evolution Mining Limited (ASX:EVN) Reports Record H1 FY25 Financials and 250% Dividend Increase
Financial Performance
Evolution Mining Limited reported a record statutory net profit of $365 million for H1 FY25, a 277% increase from the previous year. Underlying net profit reached $385 million, up 144%, and underlying EBITDA was $1,014 million, rising 77%. Earnings per share hit 18.4 cents, a 251% increase, while group cash flow surged to $273 million, up 420%.
Sustainability Improvements
The company reduced its total recordable injury frequency by approximately 39% to 5.44, compared to 8.99 in December 2023, demonstrating year-on-year sustainability improvement.
Dividend Details
Evolution declared an interim dividend of 7.0 cents per share, fully franked, marking a 250% increase from FY24 H1. The Dividend Reinvestment Plan has been reinstated, allowing shareholders to reinvest dividends in additional shares without brokerage fees.
Future Guidance
The company remains on track to achieve FY25 production guidance of 710,000 – 780,000 ounces of gold and 70,000 – 80,000 tonnes of copper, with an All-in Sustaining Cost of $1,475 – $1,575 per ounce.
Executive Comments
Managing Director and CEO Lawrie Conway stated, “We have seen the benefits of the foundations laid during FY24 resulting in consistent and reliable delivery in FY25, with record breaking financial results and significant cash flow generation achieved in the first half. It is very satisfying to finish the first half on plan supported by an improved safety performance. With spot prices well above the achieved prices in the first half and the business well placed to deliver on FY25 guidance, we are on track to generate over $2 billion of operating cash flow for the year, which will continue to see improved returns to our shareholders. I wish to thank all of our people and stakeholders for their outstanding effort and contribution in delivering this record breaking result.”
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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