Hazer Group (HZR) H1 2025 earnings summary

Executive summary

• Revenue for H1 FY25 increased 46% year-over-year to $2.3 million, reflecting strong operational and financial performance.

• Focused on commercializing the Hazer Process for low-emission hydrogen and graphite production, with significant progress in operational milestones and technology validation during the half-year ended 31 December 2024.

• Achieved over 1,250 hours of cumulative continuous operation at the Commercial Demonstration Project (CDP), with 99.6% uptime in the final campaign.

• Entered a binding Project Development Agreement with FortisBC for a hydrogen facility in Canada and extended a Memorandum of Understanding with Mitsui for graphite market development.

• Secured key patents in Europe and Japan, expanding intellectual property protection for the Hazer Process and growing the global IP portfolio to over 70 patents and applications.

Financial highlights

• Net loss after tax for the half-year was $6,191,528, a significant improvement from $12,065,719 in the prior corresponding period.

• Revenue rose 46% to $2.3 million compared to H1 FY24.

• Total operating expenditure decreased by 12% to $7,542,964, mainly due to lower consulting, research, and employee expenses.

• Cash and cash equivalents at 31 December 2024 were $9,318,614, down from $12,821,547 at 30 June 2024.

• Cash position at $9.3 million, with an additional $6.2 million in grant funding awarded.

Outlook and guidance

• Ongoing milestone payments expected from a $6.2 million Western Australian Government grant over the next 12-18 months.

• Continued development of the Canadian project with FortisBC, with small-scale reactor testing ongoing and FEED nearing completion.

• Focus on accelerating project and reactor scale-up for large-scale commercial projects.

• Continue monetisation strategies for graphite with Mitsui and other partners.

• Maintain cost and financial discipline to support commercial growth in 2025.