The Evolution Mining Ltd (ASX: EVN) share price is storming higher on Wednesday.

In early trade, the gold miner's shares are up 2% to a 52-week high of $6.34.

This follows the release of a record-breaking result this morning.

Evolution share price higher on record result

• Underlying EBITDA up 77% to $1,014 million
• Statutory net profit up 277% to $365 million
• Underlying net profit up 144% to $385 million
• Record earnings per share of 18.4 cents
• Record group cash flow of $273 million

What happened during the half?

For the six months ended 31 December, Evolution Mining delivered record earnings and record cash generation from its portfolio of long-life, high margin assets.

Management advised that its EBITDA margin increased from 43% to 50%, driving underlying EBITDA growth of 77% to a record of $1,014 million. This underpinned a $221 million increase in group cash flow to a record of $273 million.

The catalyst for this strong half was a 22% increase in gold production to 388,346 ounces and a 36% lift in copper production to 37,613 tonnes, along with higher gold and copper prices and slightly lower costs.

Evolution Mining achieved an average gold price of $3,875 an ounce (up 29%) and an average copper price of $13,795 a tonne (up 9%). Its all-in sustaining cost (ASIC) was down 1% to $1,638 an ounce.

This ultimately allowed the company's board to reduce its gearing and declare an interim dividend of 7 cents per share. This is an increase of 250% on the prior corresponding period.

'Record breaking financial results'

Evolution Mining's managing director and CEO, Lawrie Conway, was rightfully pleased with the half. He said:

We have seen the benefits of the foundations laid during FY24 resulting in consistent and reliable delivery in FY25, with record breaking financial results and significant cash flow generation achieved in the first half. It is very satisfying to finish the first half on plan supported by an improved safety performance.

Conway appears confident that an even stronger second half is coming. He adds:

With spot prices well above the achieved prices in the first half and the business well placed to deliver on FY25 guidance, we are on track to generate over $2 billion of operating cash flow for the year, which will continue to see improved returns to our shareholders. I wish to thank all of our people and stakeholders for their outstanding effort and contribution in delivering this record breaking result.

As mentioned above, Evolution is on track to meet its guidance for FY 2025. This will mean 710,000 to 780,000 ounces of gold and 70,000 to 80,000 tonnes of copper, at a sector leading AISC of $1,475 to $1,575 per ounce.

The Evolution Mining share price is now up 110% since this time last year.