FY25 Financial Results

Executive Summary

• Westgold reported record FY25 revenue of $1.36 bn (+90% YoY) and adjusted EBITDA of $498 m (+84% YoY), driven by the integration of Southern Goldfields assets.
• Net profit after tax fell to $35 m (‑63%) due to one‑off transaction costs, but underlying free cash flow more than doubled to $224 m (+120%).
• The company increased its dividend to 3 cps (+33%) and signaled intent to launch a share buy‑back programme.

Key Details

• Revenue: $1,360 m (FY24: $716 m) – 90% increase.
• Adjusted EBITDA: $498 m (FY24: $271 m) – 84% increase; margin 36%.
• NPAT: $35 m (FY24: $95 m) – down 63%, attributed to one‑off transaction costs and higher depreciation/amortisation.
• Underlying Free Cash Flow: $224 m (FY24: $102 m) – up 120%.
• Cash, bullion & liquids: $364 m at period end (up 38% YoY).
• Dividend: increased to 3 cps (33% rise).
• Gold Production: record 326 koz (including 129 koz from Southern Goldfields acquisition).
• Gold Sales: 308,979 oz (up 36%).
• Achieved gold price: US$4,387/oz (up 40%).
• Cost of sales: $1,126 m (up 101% YoY) reflecting larger production base.
• EBITDA per ounce: $1,526/oz (up 28%).
• Balance Sheet Highlights: Cash & cash equivalents $240 m; Net assets $1,969 m (+185%).
• Liquidity: Total available liquidity $614 m including undrawn $250 m corporate credit facility.

Notable Quotes

“FY25 was transformative for Westgold and added the strategic Southern Goldfields assets to Westgold's portfolio…record EBITDA and free cash flow demonstrated the latent capacity of the expanded portfolio.” – Wayne Bramwell, Managing Director & CEO

For full financial tables and additional commentary, refer to Westgold’s FY25 Appendix 4E and Annual Financial Report filed on 28 Aug 2025.