Invictus Energy (IVZ) H1 2025 earnings summary

Executive summary

• Net loss for the half-year ended 31 December 2024 was $3,318,765, an improvement from $4,149,060 in the prior year period.

• No dividends were paid or declared for the period.

• Focused on exploration and appraisal of the Cabora Bassa Project, with eight high-potential prospects totaling 2.9 Tcf gas and 184 MMbbl condensate (gross mean unrisked).

• Completed a US$10 million strategic capital raise in Zimbabwe and listed on the Victoria Falls Stock Exchange.

Financial highlights

• Revenue from interest and other income totaled $98,602 for the half-year.

• Loss after income tax was $3,318,765, down from $4,149,060 year-over-year.

• Basic and diluted loss per share was (0.21) cents, compared to (0.32) cents in the prior year.

• Cash and cash equivalents increased to $13,533,721 from $3,256,044 at 30 June 2024.

• Net cash outflows from operating and investing activities totaled $7,572,715, a significant reduction from $33,010,739 in the prior year.

Outlook and guidance

• Directors expect continued exploration and development at Cabora Bassa, with further capital investment anticipated.

• Additional funding may be required to support ongoing operations; directors are confident in securing further debt or equity as needed.