Evion Group (EVG) H1 2025 earnings summary

Executive summary

• Significant progress in development activities across projects in India and Madagascar, including production testing and sample approvals at the Indian JV and key permitting milestones in Madagascar.

• The Donnelly River Project in Australia was surrendered, focusing resources on core assets.

Financial highlights

• Operating loss after income tax for the half-year ended 31 December 2024 was $2,124,516, compared to $1,424,131 for the same period last year.

• Total comprehensive loss attributable to owners was $2,162,289, up from $1,543,888 year-over-year.

• Cash and cash equivalents at period end were $728,246, down from $1,949,729 at 30 June 2024.

• Net cash used in operating activities was $1,154,502, similar to $1,180,893 in the prior period.

• No dividends were declared or paid during the period.

Outlook and guidance

• The Indian JV expects over A$2 million from initial production sales, with all sales above US$3,000/mt FOB.

• Production of the first 400 tonnes is on track for shipment to Europe, with additional concentrate secured for Q2 and Q3 2025.

• The Maniry Graphite Project in Madagascar is positioned for fast-tracked development following government endorsement and license conversions.