Australian Vanadium (AVL) H2 2025 earnings summary

Executive summary

• Advanced vertically integrated strategy, progressing the Australian Vanadium Project towards construction readiness, deploying AVL-manufactured electrolyte, and expanding downstream VFB BESS activities.

• Achieved key milestones: OFS advancement, EPA approval for Gabanintha, first commercial electrolyte deployment, and strong safety performance (TRIFR of zero).

• Maintained government engagement, securing grant funding and recognition under Green Energy Major Projects.

Financial highlights

• Net loss after tax of $11.9 million for FY2025, improved from $15.2 million in FY2024.

• Cash outflows: $13.5 million from operating activities and $11 million from investing activities.

• Cash and cash equivalents at 30 June 2025: $11.5 million (down from $36.4 million in 2024), including $4.2 million in grant funds.

• Net working capital (excluding grant liability) at 30 June 2025: $5.4 million.

• Outstanding commitments: $0.9 million for the Vanadium Project and $0.8 million for exploration, due within 12 months.

Outlook and guidance

• Focus on completing OFS, advancing environmental approvals, and detailed engineering for construction readiness.

• Continued product qualification with international VFB manufacturers and pursuit of near-term supply opportunities.

• Progress Project Lumina to construction-ready status and pursue Kalgoorlie VFB BESS opportunity.

• Additional funding required in the next 12 months to continue normal business activities.