Evolution Mining is celebrating record profits for the 2023–24 financial year (FY24).
The company’s earnings before interest, taxes, depreciation, and amortisation stood at $1.5 billion for the year, a 67 per cent increase on FY23.
Evolution expects the good times to continue rolling into FY25, with a guidance set at 710,000–780,000 ounces of gold and 70,000–80,000 tonnes of copper.
“The record financial performance and excellent progress we have made on deleveraging the balance sheet and the more than doubling of the final dividend, while continuing to invest in our various project opportunities are testament to our strategy and capital allocation discipline,” Evolution managing director and chief executive officer Lawrie Conway said.
“We are ideally positioned for FY25, which will see us continue our high cash generation through planned higher production, at a sector leading cost position.
“Thank you to all our employees and stakeholders who contributed to our achievements this year.”
Despite finishing FY24 on a financial high, Evolution is facing its fair share of IT challenges after announcing it was recently the victim of a ransomware attack.
The attack has been reported to the Australian Cyber Security Centre.
Evolution is not the only miner to experience cyber-attacks of late. Sibanye Stillwater announced earlier this month it had been the target of a global cyber-attack.
“We have prioritised the health and safety of our employees as we have worked diligently to remediate the effects of the attack and normalise our operations,” Sibanye-Stillwater chief executive officer Neal Fronman said in the wake of the breach.
Rio Tinto also faced a similar attack last year when employee data was stolen by a cyber-criminal group.
Evolution said it is not expecting any material impact on operations from the attack.
“The company has been working with its external cyber forensic experts to investigate the incident,” Evolution said in a statement.
“Based on work to date, the company believes the incident is now contained.”
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