Evion Group (EVG) H2 2024 earnings summary

Executive summary

• Significant progress in asset development, including completion and ramp-up of the India JV expandable graphite plant and ongoing permitting for the Maniry Graphite Project in Madagascar.

• Strategic focus on expanding production capacity in India and advancing the Maniry Project toward mining approval.

• Board and management changes, with new appointments to drive growth and project execution.

Financial highlights

• Net loss for FY24 was $3,212,073, an improvement from $3,573,273 in FY23.

• Working capital surplus at 30 June 2024 was $1,660,675, down from $3,922,789 the previous year.

• Cash and cash equivalents at year-end were $1,949,729, compared to $4,303,402 at 30 June 2023.

• No dividends paid or recommended for FY24.

Outlook and guidance

• Plans to double plant capacity in India to meet strong global demand for expandable graphite.

• Anticipated completion of community relocation and environmental plans in Madagascar, aiming for mining approval.

• Update of the Battery Anode Material (BAM) plant scoping study to determine optimal location and partners.