Evolution Mining (EVN) H2 2026 earnings summary

Executive summary

• Achieved record financial results in FY26, including highest-ever EBITDA, net profit, and cash flow, driven by strong operational performance and disciplined cost and capital management.

• Delivered record shareholder returns, including a fully franked final dividend and an updated payout policy targeting 60% of group cash flow.

• Maintained a high-margin, cash-generative portfolio with all assets contributing positively.

• Strategic investments and disciplined capital allocation supported both organic and inorganic growth.

• Board changes announced: Tommy McKeith retiring, Jon Vann (John Vann) joining as director in December.

Financial highlights

• Underlying EBITDA reached $3,171 million (AUD 3.2 billion), up 44% year-over-year, with a 57% margin.

• Net profit after tax was $1,563 million (AUD 1.6 billion), up 63% from prior year.

• Group cash flow hit a record $1,389 million (AUD 1.4 billion), up 76% year-over-year.

• Earnings per share rose to 73 cps (AUD 0.73), up 57% year-over-year.

• Total FY26 dividend of 41 cps (AUD 0.41), totaling $833 million, with a final dividend of 21 cps, up 62%.

Outlook and guidance

• FY27 guidance: gold production of 660,000–730,000 oz and copper production of 63,000–78,000 t.

• All-in sustaining cost (AISC) guided at $1,795–$1,995/oz, with cost escalation of 4–5%.

• Operating mine cash flow expected at $3.4–$3.6 billion at current prices.

• Major mine development and project capital investment planned at $1.1–$1.5 billion.

• Production and guidance weighted to H2 FY27 due to mine access and ramp-up schedules.