Aeris Resources (AIS) H1 2025 earnings summary

Executive summary

• Achieved a net profit after tax of $29.6 million for the half-year ended 31 December 2024, reversing a loss of $18.8 million in the prior period.

• Revenue increased 2% year-over-year to $292.7 million, driven by higher gold and copper prices and stable operating costs.

• No dividends were declared or paid during the period.

Financial highlights

• Gross profit rose sharply to $59.6 million from $13.3 million, a 347% increase year-over-year.

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

• 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 cash inflow from operating activities was $58.3 million; cash at period end was $26.4 million.

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.