European Lithium (EUR) H2 2026 earnings summary

Executive summary

• Achieved a net profit of $930.6 million for FY2026, reversing a prior year net loss of $96.8 million, primarily due to a $1.28 billion gain on deconsolidation of Critical Metals Corp (CRML).

• Significant sale of CRML shares generated substantial funds and led to a reduction in ownership to 31%.

• Entered into a binding agreement for a merger with CRML, aiming to consolidate 100% ownership of key assets.

• Announced the acquisition of Velta Holding, expanding into titanium and related critical materials.

Financial highlights

• Net profit: $930.6 million (FY2025: $96.8 million net loss).

• Gain on deconsolidation of CRML: $1.28 billion.

• Impairment of investment in associates: $163.1 million.

• Share-based payment expenses: $10.6 million (down from $49.1 million in FY2025).

• Cash and cash equivalents at year-end: $296.3 million.

• No dividends declared or paid.

Outlook and guidance

• Focus for FY2027 is on completing the merger with CRML and integrating assets.

• Merged group expected to benefit from 100% ownership of two strategic assets in rare earths and lithium.

• Directors unable to reliably quantify future financial performance due to transaction uncertainties.