Talga Group (TLG) H1 2026 earnings summary

Executive summary

• Advanced the Vittangi Anode Project in Sweden, clearing key regulatory hurdles for the Lulea Anode Refinery and Nunasvaara South graphite mine.

• Commenced FEED study for a 5,000 tpa anode plant and doubled EVA anode customer receipts year-over-year, with record demand from battery manufacturers.

• Launched Talnode-R, a recycled graphite anode, and secured supply and cooperation agreements with Aurubis and United Catalyst Corporation.

• Expanded product portfolio with performance-enhancing additives and advanced EU-funded R&D projects.

• Strengthened board with Eva Nordmark and began trading on the US OTCQX market.

Financial highlights

• Revenue from ordinary activities was $80,048, down from $34,333 year-over-year; total other income was $437,946, down from $672,171.

• Net loss for the half-year was $11.6 million, compared to a $3.1 million loss in the prior year.

• Cash and cash equivalents at period end were $28.4 million, up from $13.2 million at June 2025.

• Net operating cash outflow was $7.4 million, improved from $12.3 million outflow in the prior year.

• Raised $14.5 million via institutional placement and $7.3 million through a share purchase plan post-period.

Outlook and guidance

• Directors expect further funding will be required to progress the Vittangi Anode Project, with confidence in the ability to raise additional capital.

• Application for a SEK 1.1B (A$180 million) grant for industrial-scale graphite anode was declined due to Swedish government budget constraints.