Zenith Energy (ZEN) H2 2025 earnings summary

Executive summary

• Achieved a turnaround to a CAD $1,089k after-tax profit for FY ended March 31, 2025, versus a CAD $42,367k loss in the prior year.

• Revenue increased to CAD $2,147k from oil and natural gas, up from CAD $1,788k year-over-year.

• Significant progress in international arbitration, with a $9.7M award in ICC-1 against ETAP and ongoing claims totaling $639.5M.

• Expanded focus on renewables, launching a solar energy subsidiary and acquiring solar assets in Italy.

Financial highlights

• Revenue from oil and gas: CAD $2,147k (2024: CAD $1,788k); electricity sales: 11,321 MWh (2024: 10,270 MWh).

• Gross profit: CAD $80k (2024: loss of CAD $3,235k); operating profit: CAD $7,987k (2024: loss of CAD $27,636k).

• Cash balance at year-end: CAD $3,199k (2024: CAD $207k).

• Total equity: CAD $65,629k (2024: CAD $49,978k).

• General and administrative costs: CAD $6,478k (2024: CAD $24,401k).

Outlook and guidance

• Anticipates further growth in Italian energy production, especially renewables.

• ICSID arbitration hearings expected in 2026, with potential for extraordinary dividend if successful.

• Ongoing focus on acquiring revenue-generating energy assets and uranium projects.