Atome (ATOM) H2 2025 & H1 2026 earnings summary

Executive summary

• Villeta reached unconditional FID in May 2026 after US$665m of financing was arranged; funds cannot be drawn until the PPA is resolved.

• Paraguay revoked decrees underpinning Villeta’s power arrangement in June 2026, leaving the PPA unsigned; discussions with the Government and ANDE continue.

• Strategic focus remains on seeking an amicable resolution while advancing projects in Brazil and elsewhere in Latin America.

Financial highlights

• H1 2026 loss attributable to equity holders was US$11.178m versus US$2.499m in H1 2025; comprehensive loss was US$12.216m versus US$3.072m.

• Cash was US$8.015m at 30 June 2026 versus US$361k a year earlier; net cash used in operating activities was US$2.677m versus US$1.430m.

• US$6.6m of costs were capitalised at 30 June 2026, unchanged from H1 2025.

Outlook and guidance

• A viable PPA must provide price certainty for at least 10 years from COD; pricing remains under discussion in alignment with DFI loan maturity.

• If a new PPA is reached, stakeholders will review documentation and revised projections; financing, technical and offtake work continues in parallel.

• Brazil FEED could take half the typical 18 months and half the cost of starting fresh, leveraging work completed for Villeta.

• Brazil pre-feasibility work and a pipeline of 25+ projects with 9GW of potential capacity extend development beyond Villeta.