St Barbara (SBM) H1 2026 earnings summary

Executive summary

• Returned to underlying net profit after tax of $1.3M, reversing a $48.1M loss year-over-year.

• Statutory net loss after tax narrowed to $0.25M, a 99% decrease from the prior period's $48.5M loss.

• Revenue increased 32% year-over-year to $128.8M, driven by Simberi operations.

• Major agreements signed to fund growth at New Simberi Gold Project and 15-Mile Processing Hub.

• No interim dividend declared for the period.

Financial highlights

• Underlying EBITDA was $10.8M, up from a $39.1M loss in the prior period.

• Operating cash contribution after sustaining capital was $18.0M, compared to a $35.3M loss in H1 FY25.

• Cash on hand at period end was $74.8M, with an additional $87.3M in restricted cash.

• Net tangible assets per security increased to $0.36 from $0.35 at June 2025.

• Share capital raise contributed $54.4M (net of costs) to cash inflows.

Outlook and guidance

• Strategic focus remains on the New Simberi Gold Project and 15-Mile Processing Hub.

• Fully funded for growth capital at New Simberi Gold Project and 15-Mile Processing Hub upon completion of Lingbao and Kumul transactions.

• Agreements in place to sell 50% of St Barbara Mining Pty Ltd for $370M and 20% of Simberi Operation for $100M, both targeted for completion by end of Q3 FY26.

• Feasibility and prefeasibility studies support long mine lives and strong NPVs for key projects.