Evolution Mining (EVN) H1 2026 earnings summary

Executive summary

• Record statutory net profit after tax of $767M for H1 FY26, up 110% year-over-year, with underlying profit after tax at $785M, also a record high.

• Group cash flow reached $1,733M, up 75% year-over-year, and net mine cash flow surged 151% to $1,093M.

• Interim fully franked dividend of 20 cents per share declared, nearly tripling the prior period and marking the 26th consecutive dividend.

• Strong operational discipline and favorable gold and copper prices drove robust financial performance.

• Portfolio positioned for growth, with major projects approved at Northparkes (E22, Coarse Particle Flotation) and Ernest Henry (Bert), and expansion into Canada.

Financial highlights

• Underlying EBITDA increased 57% to $1,589M, with EBITDA margin improving to 57% from 50%.

• Statutory profit after tax rose 110% to $767M; earnings per share doubled to 38 cents.

• Cash balance at period end was $967M, up $206.9M from June 2025.

• All-in Sustaining Cost (AISC) improved to $1,640/oz, a 6% improvement on original guidance.

• Net tangible assets per share rose to $3.22 from $2.53.

Outlook and guidance

• FY26 production guidance: 710,000–780,000 ounces of gold and 70,000–80,000 tonnes of copper.

• Group AISC guidance updated to $1,640–$1,760/oz, reflecting improved cost position.

• Major project capital for FY26 updated to $500–605M; annual capital investment planned at $900–$1,100M for FY27–30.

• On track to be net cash by end of FY26, with continued investment in high-margin assets.

• Clear pipeline of high-return projects advancing for sustainable growth.