Slide 1: FY15 Half-Year Financial Results
For personal use only Evolution Mining FY15 Half-Year Financial Results For the six month period ending 31 December 2014 18 February 2015 Jake Klein – Executive Chairman Lawrie Conway – Finance Director and Chief Financial Officer
Slide 2: Forward looking statement
For personal use only Forward looking statement These materials prepared by Evolution Mining Limited (or “the Company”) include forward looking statements. Often, but not always, forward looking statements can generally be identified by the use of forward looking words such as “may”, “will”, “expe
Slide 3: Highlights
Highlights Record half-year net profit of A$43.1M For personal use only Revenue of A$325.0M Record gold sales revenue (8% increase) Lower silver sales revenue (49% decrease) – completion of Mt Carlton A39, lower silver price EBITDA of A$131.8M (19% increase) driven by lower costs Record
Slide 4: Profit summary
Profit summary 6 months ending For personal use only 31 Dec 14 31 Dec 13 Financial Summary A$’000 % Change A$’000 Gold price received (A$/oz) 1,429 1,444 1% Silver price received (A$/oz) 20.74 22.49 8% Gold sales (oz) 211,567 193,456 9% Total revenue 325,031 320,934 1% Cash cost of sales (excluding
Slide 5: Profit comparison – 1H 2015 vs 1H 2014
Profit comparison – 1H 2015 vs 1H 2014 Record net profit driven by higher sales and lower costs despite lower gold price, For personal use only lower sales revenue and increased depreciation and amortisation charges Underlying Net Profit (A$M) 16.8 2.6 8.8 43.1 (13.1) (2.8) 35.4 (4.7) Underlying P
Slide 6: Site costs
Site costs Record low group unit cash costs (7% decrease) For personal use only Driven by improvements at Edna May (26% decrease) and Pajingo (22% decrease) Further highlights the benefits of our portfolio of assets C1 Cash Costs (A$/oz) 1,100 766 1,000 1,000 900 947 193 800 135 777 700 736 73
Slide 7: EBITDA margins
EBITDA margins Margin benefiting from continued focus on cost base and production efficiencies For personal use only Group EBITDA Margin (%) Dec Half 2013 35% Dec Half 2014 41% 30% 32% 34% 36% 38% 40% 42% Edna May open pit: September 2014 60% Site EBITDA Margins (%) 52% 50% 51% 49% 40% 42% 39% 37%
Slide 8: Site cash flow
Site cash flow All sites contributing positive cash after sustaining and growth capital expenditure For personal use only Site Cash Generation (A$M) 90 80 70 60 50 40 30 20 10 0 Cracow Pajingo Edna Mt Mt Cracow Pajingo Edna May May Mt Rawdon Rawdon Mt Carlton Carlton Revenue Hedge Operating Costs
Slide 9: Discovery
Discovery For personal use only Ongoing investment in critical exploration targets Exploration Investment A$11.5 million invested in exploration in the December 2014 half-year High-grade intersections at Pajingo (Camembert) – mineralisation currently Tennant Creek Pajingo identified along 900m
Slide 10: Cash flow
Cash flow Cash flow improving with A$29.5M before financing For personal use only Financing costs to decrease due to reducing net debt and new debt facility costs Capacity for returns to shareholders via dividends remains 160.00 Cash Flow (A$M) 144.7 140.00 120.00 100.00 (34.0) 80.00 60.00 (54
Slide 11: Balance sheet and gearing
Balance sheet and gearing Financial position continues to strengthen For personal use only Production to plan and costs lowering Gearing (%) vs Gold Price (A$/oz) Cash increasing at prices that were 20% 1,605 A$150/oz below current spot 18% 1,422 1,414 1,395 1,500 Gearing reduced to below 10
Slide 12: Summary
Summary Operational stability and margin expansion from operations For personal use only Record six-month net profit of A$43.1 million Record half-year production of 220,444 gold equivalent ounces Record low Group C1 unit cash cost and AISC Cash balance increased to A$47.4 million Gearin
Slide 13: Evolution Mining
For personal use only Evolution Mining ASX Code: EVN www.evolutionmining.com.au