EcoGraf (EGR) H2 2025 earnings summary

Executive summary

• Advanced a vertically integrated graphite business, progressing upstream mining, midstream shaping, and downstream purification for battery anode materials, with a focus on the Epanko Project in Tanzania and global expansion of purification facilities.

• Achieved a major milestone with the successful piloting of the EcoGraf HFfree® purification process, reducing purification costs by 34% compared to Chinese methods and offering significant environmental benefits.

• Secured key regulatory approvals, including a Special Mining Licence for Epanko, and advanced financing discussions for up to US$105 million in senior debt under Germany's UFK program.

• Strengthened stakeholder engagement, including positive feedback from the US Department of Defense and the EU, and continued community and sustainability initiatives in Tanzania.

Financial highlights

• Reported a net loss after tax of $5.1 million for FY2025, an improvement from a $5.7 million loss in FY2024, primarily due to downstream processing activities.

• Revenue and other income totaled $3.7 million, with $2.8 million from R&D tax credits and government grants.

• Exploration and evaluation assets increased to $37.2 million (2024: $29.3 million), reflecting ongoing investment in project development.

• Net assets stood at $47.2 million, with cash reserves of $11.2 million and no debt at year-end.

Outlook and guidance

• Positioned to meet surging global demand for natural graphite, with a forecast 6x increase in demand by 2030, driven by EV and battery storage markets.

• Plans to expand Epanko production and develop purification facilities in North America, Europe, and Asia-Pacific to support local supply chains.

• Anticipates significant customer demand growth from 2027, supported by government policies in the EU and US.