Evolution Mining posted a 63% increase in underlying profit after tax to A$1.6bn for the year ended June 30, 2026, driven by a 76% rise in group cash flow to A$1.4bn and a 44% jump in underlying EBITDA to A$3.2bn.
The company’s net mine cash flow more than doubled to A$2.1bn, lifting its net cash position to A$19m from a net debt position of A$849m in the prior year. EBITDA margins expanded by 12 percentage points to 57%, while all-in sustaining costs fell to A$1,717 per ounce. Group operating cash flow reached a record A$3.4bn, up from A$2.3bn in FY25.
Evolution declared a final dividend of 21 cents per share, fully franked, a 62% increase from 13 cents in FY25. Total dividends for the year amounted to 41 cents per share, or A$833m, more than doubling the prior year’s payout. The dividend is payable on October 2, 2026, to shareholders on record as of September 10.
Gold production across Evolution’s tier-one assets—Cowal, Ernest Henry, Northparkes, Red Lake and Mungari—totaled 697,000 ounces in FY26. The company’s achieved gold price averaged A$6,023 per ounce, supporting cash margins that ranged from A$1,972 per ounce at Mungari to A$9,221 per ounce at Northparkes, which posted the highest unit margins.
Capital allocation for FY26 included A$850m in organic growth investments and A$250m in strategic transactions, including amendments to the Northparkes Triple Flag Agreement and a pending acquisition of Carnaby Resources. The portfolio delivered an 18% return on investment.
For FY27, Evolution guided production of 660,000 to 730,000 ounces of gold and 63,000 to 70,000 tonnes of copper. All-in sustaining costs are projected at A$1,795 to A$1,995 per ounce, assuming a gold price of A$5,700 per ounce and copper at A$18,000 per tonne. Sustaining and major mine development capital is expected to total A$705m to A$825m, with exploration spending of A$130m to A$160m.
The company’s gold ore reserves stood at 12 million ounces as of December 31, 2025, with an average reserve life of approximately 17 years.
