Aeris Resources (AIS) H1 2026 earnings summary

Executive summary

• Revenue rose to $306.3 million, up 5% year-over-year, driven by higher copper and gold prices and increased Tritton copper production.

• Net profit after tax was $47.9 million, up 62% from $29.6 million in the prior period, surpassing the full-year FY25 result.

• No interim dividend was declared or paid for the half-year.

• Major equity raise of $80 million and SPP of $21.6 million completed, significantly strengthening liquidity.

• Balance sheet strengthened with net assets up 42% to $452.6 million and cash at $87.9 million.

Financial highlights

• Adjusted EBITDA increased to $133.0 million from $84.8 million year-over-year; EBITDA rose 44% to $116.1 million.

• Gross profit improved to $93.5 million, up 57% year-over-year.

• Cost of goods sold decreased to $212.8 million from $233.1 million, aided by lower depreciation and higher concentrate stockpiles.

• Net cash from operating activities was $97.3 million, up 67% from $58.3 million.

• Basic EPS: 4.7 cents, up 52% from 3.1 cents.

Outlook and guidance

• Directors believe the group will continue as a going concern based on cash flow and covenant compliance forecasts.

• On track to meet FY26 group guidance, supported by solid production at Tritton and Cracow.

• Delivery of Stage 2 sulphide ore at Murrawombie Pit scheduled for H2 FY26.

• Acquisition of Peel Mining’s South Cobar Copper Project expected to complete in FY27.

• Management expects continued strong performance in FY26, focusing on operational excellence and project development.