Evolution Mining Full Year 2024 Earnings: Beats Expectations

Evolution Mining (ASX:EVN) Full Year 2024 Results

Key Financial Results

• Revenue: AU$3.22b (up 44% from FY 2023).
• Net income: AU$422.3m (up 158% from FY 2023).
• Profit margin: 13% (up from 7.3% in FY 2023). The increase in margin was driven by higher revenue.
• EPS: AU$0.22 (up from AU$0.089 in FY 2023).

EVN Production and Reserves

Gold

• Production: 716.7 troy koz (651.15 troy koz in FY 2023)
• Number of mines: 6 (5 in FY 2023)

Copper

• Production: 67,862 t (47,348 t in FY 2023)
• Number of mines: 2 (1 in FY 2023)

Silver

• Production: 773.77 troy koz (555.62 troy koz in FY 2023)

All figures shown in the chart above are for the trailing 12 month (TTM) period

Evolution Mining Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 1.4%. Earnings per share (EPS) also surpassed analyst estimates by 8.2%.

The primary driver behind last 12 months revenue was the Cowal segment contributing a total revenue of AU$1.01b (31% of total revenue). Notably, cost of sales worth AU$2.29b amounted to 71% of total revenue thereby underscoring the impact on earnings. The most substantial expense, totaling AU$402.6m were related to Non-Operating costs. This indicates that a significant portion of the company's costs is related to non-core activities. Explore how EVN's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 3.6% p.a. on average during the next 3 years, compared to a 1.7% growth forecast for the Metals and Mining industry in Australia.

Performance of the Australian Metals and Mining industry.

The company's shares are up 7.0% from a week ago.

Risk Analysis

You still need to take note of risks, for example - Evolution Mining has 1 warning sign we think you should be aware of.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.