Evolution Mining Limited ( (CAHPF) ) has released its Q2 earnings. Here is a breakdown of the information Evolution Mining Limited presented to its investors.
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Evolution Mining Limited, a prominent Australian gold mining company, operates six mines located in Australia and Canada. The company focuses on the exploration, development, and production of gold and gold-copper concentrate. Evolution Mining has a strong commitment to sustainability and aims for long-term stakeholder value through efficient, low-cost production.
In its latest half-year earnings report for the period ending December 31, 2024, Evolution Mining Limited announced a substantial increase in its financial performance. The company reported record statutory net profit after tax of $365.1 million, a remarkable 277% increase compared to the same period in 2023. This performance was driven by consistent production delivery and higher gold and copper prices, enabling a strong cash flow and dividend payout.
Key financial highlights include a 52% increase in revenue from contracts with customers, reaching $2.03 billion, and a 102% rise in EBITDA to $985.3 million. The company’s profit from ordinary activities after income tax soared by 277% to $365.1 million. Additionally, Evolution Mining declared an interim fully franked dividend of 7.0 cents per share, reflecting its commitment to returning value to shareholders.
Looking ahead, Evolution Mining remains optimistic about its operational performance, with FY25 guidance on track to deliver between 710,000 to 780,000 ounces of gold and 70,000 to 80,000 tonnes of copper. The company continues to focus on sustainability and growth, with ongoing projects such as the Mungari mill expansion and new exploration tenements enhancing its production capabilities.
The management anticipates maintaining strong financial performance, supported by its diverse portfolio of assets and ongoing strategic initiatives. Evolution Mining aims to continue delivering robust returns to shareholders while advancing its sustainability goals towards achieving net-zero emissions by 2050.
