Aeris Resources (AIS) H1 2025 earnings summary

Executive summary

• Net profit after tax reached $29.6 million for the half-year ended 31 December 2024, reversing a prior loss of $18.8 million, with revenue rising to $292.7 million, driven by higher gold and copper prices and increased gold production.

• Gross profit surged 347% to $59.6 million, reflecting improved operational performance and cost control.

• Positive operating cash flow of $58.3 million, a significant improvement from $0.1 million in the prior period.

• No dividends were declared or paid during the period.

• Production remains on track to meet full-year group guidance.

Financial highlights

• Adjusted EBITDA nearly doubled to $84.8 million from $44.6 million, up 90% year-over-year.

• EBITDA increased 134% to $80.8 million.

• Basic earnings per share improved to 3.1 cents from a loss of 1.9 cents per share.

• Net tangible assets per share increased to 31.2 cents from 28.8 cents; net assets rose to $302.0 million from $271.8 million.

• Cash and equivalents rose to $26.4 million as of 31 December 2024.

Outlook and guidance

• Focus remains on meeting production and cost guidance, refinancing debt facilities, and generating positive cash flows from operating mines.

• Directors are confident in the ability to continue as a going concern, but acknowledge material uncertainty due to upcoming refinancing requirements.

• Refinancing of the ANZ Contingent Instrument facility is in its final stages, supporting a strong full-year outlook.