Hazer Group (HZR) H2 2025 earnings summary

Executive summary

• Revenue more than doubled to $8.5 million, up 124% year-over-year, with maiden operating revenue from engineering services.

• Loss from ordinary activities after tax reduced by 60% to $7.6 million compared to FY24.

• Early completion of the Commercial Demonstration Plant (CDP) test program de-risked scale-up and informed commercialization strategy.

• Strategic alliance with KBR to accelerate global licensing and commercial deployment in hydrogen markets.

• Advanced projects in Canada and Japan, with key milestones achieved and first revenues received from FortisBC.

Financial highlights

• Revenue increased 124% to $8.5 million compared to FY24.

• Operating costs decreased by 17% due to early CDP test completion and lower corporate costs.

• Loss after tax reduced by 60% to $7.6 million year-over-year.

• Capital expenditure down 80% to $1.4 million, reflecting transition from construction to sustaining capital.

• Cash and cash equivalents at $12.5 million, with total funding position of $19.4 million including grants and expected R&D tax refund.

Outlook and guidance

• Focus on accelerating licensing through KBR partnership and securing near-term feasibility studies.

• Drive FortisBC project toward final investment decision (FID) and progress other projects through FEED.

• Advance technology scale-up to 50,000 tonnes of hydrogen per annum for large-scale projects.

• Continue graphite monetization strategies with Mitsui, targeting critical mineral markets.

• Maintain financial discipline to support commercial growth.