Polyus has published its operating and financial results for the second half and full year of 2025, highlighting the Company’s key achievements and strategic initiatives during the reporting period. Full-year revenue grew by 19% to $8.7 bln, driven by sustained growth in the average realized gold price amid global economic trends, as well as the optimization of operational processes at key assets. Adjusted EBITDA increased by 12% to $6.3 bln, reflecting the business’s high margins and effective cost management. Gold output for the year was fully in line with the previously announced forecast of 2.5–2.6 moz, despite a planned reduction in output at the Olimpiada and Blagodatnoye (Krasnoyarsk Territory) deposits due to the transition to a new stage of open-pit mining.
«Polyus has entered a new growth cycle, during which we will be making large-scale investments in the development of our assets. In 2025, these investments reached a record $2.2 bln in the Company’s history. The majority of these investments were directed toward development projects — primarily the development of Sukhoi Log (Irkutsk), the largest gold deposit in Russia. The ongoing pilot processing allows us to study the characteristics of the ore in detail and develop the most efficient processing technologies. At the same time, we continued work on the Chulbatkan (Khabarovsk) and Chertovo Koryto (Irkutsky) projects and invested in the expansion of our existing operations: intensifying stripping at the fifth stage of the Vostochny pit at Olimpiada and Mill 5 construction at Blagodatnoye (Krasnoyarsk),» said Alexey Vostokov, CEO of Polyus.
In addition to its operational successes, Polyus continues to consistently strengthen its position in the area of environmental responsibility, viewing stability as an integral part of its long-term success and competitive advantage. Environmental infrastructure development has progressed further with the completion of a new industrial and municipal waste management facility in Kuranakh, built in accordance with environmental standards and validated through the required expert reviews. Also, in December 2025, the Polyus Magadan sanitary and industrial laboratory received initial accreditation under the national accreditation system (Rosaccreditation) to conduct quality gauging of industrial emissions, ambient air, and workplace air. No environmental incidents were recorded in 2025, demonstrating the high effectiveness of the monitoring system and preventive measures across all production sites.
In the social sphere, Polyus reduced its LTIFR — a key occupational safety indicator — by 32% vs. the previous reporting period, bringing it down to 0.17. In the second half of 2025, an external audit of the Health and Safety management system was conducted to verify compliance with the requirements of international standards ISO 14001 and ISO 45001 at eight of the Company’s business units. The audit results showed that the Health and Safety management system complies with leading international and national practices, as well as certification standards.
As part of its efforts to support local communities, the third stage of the partner program with DOM.RF is ongoing. Under that program, the Company is building a new mining camp in Nizhny Kuranakh (Yakutia), comprising three residential buildings with 291 apartments, as well as a cafeteria and 400 square meters of non-residential space. The first building and the cafeteria are scheduled for completion in September 2026, with the remaining buildings to follow in January 2027. Repair work has been completed at the medical stations at the Kuranakh and Chulbatkan deposits. Ambulance cars have been purchased and commissioned at Natalka (Magadan) and Kuranakh (Yakutia).
In 2025, the Polyus Charity Fund (Polyus Fund) conducted a grant campaign, receiving 147 applications from 76 organizations and 41 individuals (vs. 139 applications in 2024), with 39 projects already implemented. At the end of the year, the Polyus Fund began accepting applications for its 2026 grant competitions, expanding the program with an additional competition — the Opportunity Grant — aimed at projects that engage young people in active, socially meaningful activities across the following areas: education, science, career guidance, ecology and environmental protection, sports, and health.
Polyus prioritizes the development of human capital by implementing large-scale personnel programs to train qualified specialists and strengthen internal skills. In 2025, 4,382 people were trained at the corporate center, and approximately 1,200 specialists upgraded their qualifications through comprehensive training programs. An international initiative called Digital Engineer has been launched for future specialists in collaboration with Siberian Federal University, where lectures by leading Polyus experts are complemented by practical training at a leading Chinese university, facilitating the transfer of cutting-edge knowledge.
In the area of corporate governance, Polyus strengthened its standards of transparency and independence by updating the Charter of Polyus PJSC and the Regulations on the Board of Directors in 2025. Polyus’s advanced ESG practices have been recognized by leading rating agencies, demonstrating its comprehensive approach to business development.
The full official press release, including detailed analysis and financial statements, is available in the Investors section of the Company’s website.
