St Barbara (SBM) H2 2026 earnings summary

Executive summary

• Statutory profit after tax reached A$490 million for FY26, a significant turnaround from a restated loss of A$94 million in FY25, driven by a A$499 million gain from the Lingbao transaction and improved discontinued operations performance.

• Net assets increased 148% to A$928 million, with cash of A$475 million and no debt or hedging at year-end.

• A fully franked dividend of A$0.05 per share was declared, and a share buy-back of up to 100 million shares is under consideration pending project updates.

Financial highlights

• Revenue from continuing operations decreased 76% to A$3.6 million, reflecting the deconsolidation of Simberi.

• EBITDA (excluding significant items) was a loss of A$17.5 million, and EBIT (excluding significant items) was a loss of A$32.7 million.

• Underlying net loss after tax (excluding significant items) was A$27.8 million.

• Cash on hand at 30 June 2026 was A$393.4 million, with an additional A$81.4 million in restricted cash.

• Market capitalisation at year-end was A$0.56 billion, with a closing share price of A$0.46.

Outlook and guidance

• Focus remains on delivering value from the New Simberi Gold Expansion Project and advancing the Atlantic Projects.

• The company is fully funded for its development pipeline and expects to release an updated Pre-Feasibility Study for the 15-Mile Processing Hub Project by September 2026.

• FY27 remuneration and incentive structures will continue to emphasize project delivery and shareholder value creation.