Evion Group (EVG) H2 2026 earnings summary

Executive summary

• Achieved key milestones including grant of Mining Permits for Maniry Graphite Project in Madagascar, first full year of production at Panthera JV in India, and acquisition of an exclusive option over the CARP Fluorspar Project in Nevada, USA.

• Maniry is the first critical minerals project to receive permits under Madagascar's new Mining Code and is recognized as a Strategic Project by the EU, unlocking project financing and offtake opportunities.

• Panthera JV delivered its first full year of commercial production, expanding international sales and demonstrating strong margins.

• The group diversified into fluorspar, strengthening its position as a vertically integrated critical minerals supplier.

Financial highlights

• Group incurred a net loss of $2,702,089 for FY2026, an improvement from a $3,685,040 loss in FY2025.

• Revenue from Panthera JV (Evion's share) was US$1.72 million, with a gross profit margin of 54.5%.

• Working capital surplus at 30 June 2026 was $3,710,546, up from $603,267 in 2025.

• Cash and cash equivalents increased to $4,706,374 from $1,026,901 year-over-year.

• No dividends were paid or recommended for the year.

Outlook and guidance

• Focus on advancing Maniry to Final Investment Decision and construction, leveraging EU and US strategic status.

• Expansion of Panthera JV to 2,500 tpa (Stage 1) and 4,000 tpa (Stage 2) targeted, with projected EBITDA of US$3.4M and US$5.8M respectively.

• Ongoing exploration and permitting at CARP Fluorspar Project, with new targets identified and further drilling planned.

• Continued engagement with international financiers and offtake partners.