Evolution Mining Limited delivered a statutory profit after tax of $1,475 million for the year ended 30 June 2026, marking a 59% increase compared to the $926 million recorded in FY25.

Reflecting this performance, Group cash flow reached $1,389 million, up from $787 million in the previous financial year, while net mine cash flow rose to $2,079 million compared to $1,035 million previously. Underlying EBITDA climbed 44% to $3,171 million at a margin of 57%.

The Board approved an updated dividend policy targeting a payout rate of approximately 60% of Group cash flow, an increase from the previous 50% rate. This supported a record final fully franked dividend of 21.0 cents per share, compared to 13.0 cents per share in FY25. The final payout will return approximately $427 million to shareholders, bringing total FY26 dividends to 41.0 cents per share and returning about $833 million for the year.

“Our record results reflect the quality of our assets and, above all, the efforts of the entire Evolution team. We are delivering on our commitment to shareholders. The record financial performance is on the back of safe, consistent and reliable operational delivery, complemented by our disciplined approach to cost and capital management. Our high-margin business is generating significant cash flow with a record Group cash flow of nearly $1.4 billion.”

“Our record final dividend of 21 cents per share will return ~$427 million to shareholders and bring the full year dividend to 41 cents, equal to $833 million.”

— Lawrie Conway, Managing Director and Chief Executive Officer

Operational delivery across key assets underpinned the financial result. The Open Pit Continuation Project at Cowal remains on schedule and within the original capital budget of $430 million, with ore mining commencing at E46 during the June quarter. At Mungari, the expanded 4.2 million tonnes per annum mill delivered record annual gold production of 186,000 ounces and operating mine cash flow of $652 million. The expansion project was completed ahead of schedule and 15% below its $250 million budget at $212 million.

For FY27, Evolution has issued Group guidance targeting gold production of 660,000 to 730,000 ounces, copper production of 63,000 to 70,000 tonnes, and an All-in Sustaining Cost of $1,795 to $1,995 per ounce.

Corporate activity during the period included an agreement to acquire Carnaby Resources Ltd via a Scheme of Arrangement for approximately $213 million in scrip consideration to expand copper growth at Ernest Henry. A scheme meeting for Carnaby shareholders is expected to be held in late October to early November 2026. At Ernest Henry, the Bert development project received board approval with first production scheduled for FY29.

Read the full announcement: FY26 Full Year Financial results and Final Dividend