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Develop Global (DVP) investor relations material

Develop Global H2 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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H2 2025 earnings summary24 Sep, 2025

Executive summary

  • Achieved first sales of copper, zinc, and lead concentrates from Woodlawn, marking transition to producer status.

  • Substantial progress at Sulphur Springs with earthworks underway and updated DFS due later in 2025.

  • Mining services division delivered strong results, with external revenue up 57% to $216.8m, mainly from the Bellevue contract.

  • Raised A$180m via share placement to accelerate growth, particularly at Sulphur Springs and Woodlawn.

  • Ended the year with optimism, strong project pipeline, and robust funding.

Financial highlights

  • Revenue from customers increased to $231.5m (FY24: $147.2m), driven by mining services and Woodlawn concentrate sales.

  • Net profit after tax of $72.8m, a significant turnaround from a $12.0m loss in FY24, aided by a $77.6m income tax benefit.

  • EBITDA for mining services segment reached $36.8m, with group underlying profit at $72.8m.

  • Cash reserves at year-end were $58.6m (FY24: $41.5m), with total assets of $898.1m and net assets of $630.4m.

  • Share price closed at $4.90 (FY24: $2.17); basic EPS 27.01c (FY24: -5.29c).

Outlook and guidance

  • Woodlawn ramp-up to steady-state production continues into FY26.

  • Sulphur Springs underground development to commence in Sep-25 quarter; updated DFS expected in Dec-25 quarter.

  • Mining services focus on contract extension at Bellevue and targeting 5-7 operations.

  • Strong market outlook for copper and zinc supports project economics.

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Frequently asked questions

Develop Global Limited is an Australia-based mining services company involved in mineral exploration, mine development, and contract mining. The company provides technical and operational services to mining projects, including underground mining and engineering services. In addition to its contract mining operations, Develop Global holds interests in mineral exploration projects, primarily targeting base metals such as copper, zinc, and nickel. The company focuses on enhancing operational efficiency and resource development for its clients and its own mining assets. The company is headquartered in Perth, Western Australia, and its shares are listed on the ASX.

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