Atome (ATOM) H1 2024 earnings summary

Executive summary

• Completed FEED study for Villeta project and pre-PPA studies for 300MW Yguazu project in Paraguay.

• Signed Heads of Terms with Yara for long-term offtake of Villeta's entire production.

• Formalized 30-year Free Trade Zone agreement with Paraguay government for Villeta.

• Pipeline now extends to 600MW, with projects in Paraguay and Costa Rica.

Financial highlights

• Recorded a net loss of US$2.8 million for H1 2024, compared to US$2.6 million in H1 2023.

• US$6.2 million of costs capitalized for Villeta project in H1 2024, up from US$2.1 million in H1 2023.

• Net cash used by operating activities was US$1.6 million, down from US$3.3 million in H1 2023.

• Cash balance at 30 June 2024 was US$77,000, compared to US$3.6 million at 30 June 2023.

• Raised US$2.9 million gross from share placings in February and March 2024.

Outlook and guidance

• Final Investment Decision and construction for Villeta targeted by end of 2024.

• Villeta expected to be the world’s largest green fertiliser facility, projected to start production in late 2027.

• Yguazu project, nearly triple Villeta’s size, could follow 18 months later.

• Ongoing project finance discussions with significant investor interest.