OM (OMH) investor relations material

Executive summary

• Full-year revenue for FY2025 was $636.3 million, a 3% decline year-over-year due to weaker prices and demand amid global uncertainty.

• Adjusted EBITDA was $50.7 million, down from $76.0 million in FY2024, but profit after tax to shareholders was $2.3 million, a decrease from FY2024 but an improvement over the first half of 2025, which posted a loss.

• The Tshipi asset disposal was completed, with proceeds received and a special dividend of AUD 0.01 per share declared.

• Profit per share dropped to 0.31 cents from 1.22 cents in the prior year.

Financial highlights

• Revenue declined 3% year-over-year despite a 6% increase in traded volumes for ores and alloys.

• Loan repayments totaled $182.8 million, up from $66.1 million in FY2024.

• Net cash used in operations was $17.8 million, compared to $83.3 million generated in FY2024.

• Cash and cash equivalents at year-end stood at $13.2 million.

• Gross profit margin declined to 16.1% from 17.3% in FY2024.

Outlook and guidance

• Production guidance for 2026: manganese output expected to remain stable, while ferrosilicon production will be modestly reduced in response to market conditions and scheduled maintenance; FY2026 production guidance set at 450-470 ktpa for FeSi and Mn alloys.

• Commercial production of silicon metal remains contingent on a strategic review.

• Optimism on market pricing persists as competitor production cuts continue.