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- Evolution Mining reported statutory net profit of AU$323.3 million for FY22.
- The company reported a strong EBITDA margin of 44% throughout the year.
- A total of 640,275 ounces of gold were produced by Evolution Mining in FY22.
Gold mining company Evolution Mining Limited (ASX:EVN) today (18 August 2022) reported its statutory net profit of AU$323.3 million for the financial year ended 30 June 2022.
The company said in an ASX filing that AU$55 million had been paid to shareholders by the Directors in the form of a fully franked final dividend of 3.0 cents per share (30 June 2021: 5.0 cents per share). Since 2013, AU$1,053 million has been distributed to stockholders in 19 consecutive dividend payments.
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Data Source- Company announcement dated 18 August 2022
Meanwhile, shares of Evolution were trading at AU$2.64 each, down 2.04% on ASX at 10.37 AM AEST. ASX 200 Materials Index was 1.15% down at 16,267.20 points today at 10.39 AM AEST.
Besides this, Evolution further reported that approximately 104 million brand-new, fully paid ordinary Evolution shares were successfully placed with institutional investors for AU$400 million at a price of AU$3.85 per share in July 2021.
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Evolution Mining implemented its strategy in the last 12 months by purchasing of Kundana and the East Kundana Joint Venture (EKJV- Evolution's interest is 51%) which helped the company to consolidate the Mungari operation.
These portfolio adjustments have significantly raised its quality and will provide its shareholders with higher long-term returns.
Even though its operational performance over the last 12 months fell short of both the company's and its shareholders' expectations, the company’s operations finished FY22 in a position to perform better than usual in FY23.
Production is anticipated to rise by 12.5% in FY23 to about 720,000 ounces and 11% in FY24 to over 800,000 ounces. In FY23 and FY24, the All-in Sustaining Cost (AISC) is anticipated to stay constant at about AU$1,240 per ounce.
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