TerraCom (TER) H2 2026 earnings summary

Executive summary

• Revenue declined 21.1% year-over-year to A$178.9 million, reflecting weaker coal prices and operational challenges.

• Net loss after tax widened to A$45.6 million, up 5.1% from the prior year.

• No dividends were paid in FY2026, compared to A$8.01 million in FY2025.

• The company completed a A$60 million entitlement offer to support the balance sheet.

Financial highlights

• Revenue: A$178.9 million (down 21.1% year-over-year).

• Net loss after tax: A$45.6 million (FY2025: A$43.4 million).

• Net tangible assets per share: 7.35c (down 50.8% year-over-year).

• Cash and cash equivalents: A$8.4 million at year-end.

• Operating cash outflow: A$60.9 million.

• No outstanding borrowings at year-end; debt-free position (excluding leases).

Outlook and guidance

• FY2027 coal sales guidance: Blair Athol 2.0–2.2 Mt; South Africa focus on maintaining production and margins.

• Management expects to secure additional working capital funding and is pursuing cost reductions and capital management initiatives.