Evolution Mining (EVN) Q4 2026 earnings summary

Executive summary

• FY26 delivered record cash flows, sector-leading AISC of $1,717/oz, and a net cash position of $1,347M, in line with group guidance.

• All high-return organic growth projects remain on schedule and within budget, with major developments at Cowal, Northparkes, and Ernest Henry.

• Fully unhedged gold and copper portfolio at year-end; 26th consecutive dividend paid, totaling $406M for the interim period.

• Maintained strong safety performance with a TRIF of 5.9 as of June 2026.

Financial highlights

• FY26 group gold production reached 715,000 oz and copper production 66,000 tons; AISC for FY26 was $1,717/oz.

• Record FY26 group cash flow of $1,389M, with June quarter cash flow of $374M.

• Achieved record mine cash flows of $3,394M operating and $2,079M net for FY26.

• Ended June with $1,347M in cash after paying a record interim dividend of $406M.

• Total liquidity at year-end was $1,872M, including an undrawn $525M revolving credit facility.

Outlook and guidance

• FY27 guidance to be released with full-year results in August; no material changes to production capacity except Mount Rawdon cessation.

• Expecting 4%-5% inflation impact on FY27 AISC, adding $150–160/oz.

• Sustaining capital investment to increase by $50–60M above FY26, with similar elevated levels for the next few years.

• Major mine development to be $130–160M above FY26, mainly timing-related within project budgets.

• Exploration spend expected to increase by $45–60M in FY27, reflecting ongoing success and new greenfield projects.