Mayank Bansal, CFA
Mayank Bansal is a CFA Charterholder and heads the Equity Research team at Kapitales Research, with over 5 years of experience analysing global equity markets. He leads fundamental, data-driven research combining rigorous financial analysis with macro trends.
Aurelia Metals Reports 69% Profit Growth as Revenue Reaches AU$480.2 Million in FY26
Highlights
Aurelia Metals Limited (ASX: AMI) reported a substantial improvement in its financial performance for the financial year ended 30 June 2026, supported by stronger mining operations, increased production and progress across its growth projects. In its financial results announcement dated 27 August 2026, the Australian mining and exploration company recorded higher revenue, earnings and operating cash flow, while strengthening its balance sheet and returning capital to shareholders.
Revenue and Profitability Improve
The company generated revenue of AU$480.2 million in FY26, representing a 40% increase from AU$343.5 million in FY25. Statutory earnings before interest, taxes, depreciation and amortisation (EBITDA) rose 55% to AU$189.2 million, compared with AU$121.9 million in the previous financial year. Aurelia Metals’ statutory EBITDA margin improved to 39.4% from 35.5%, reflecting stronger profitability as production increased. Statutory net profit after tax (NPAT) climbed 69% to AU$82.7 million from AU$48.9 million in FY25. Basic earnings per share also increased 69% to 4.88 cents, up from 2.89 cents. Operating cash flow reached AU$142.8 million, compared with AU$129.7 million a year earlier, providing funding for operational requirements, exploration and development initiatives.
Production Growth and Expansion Projects
Operational improvements contributed to higher output across several metals. Gold production increased 11% to approximately 50,369 ounces, exceeding the company’s revised guidance. Zinc production rose 68% to 28,300 tonnes, while lead production increased 13% to 17,823 tonnes. Copper production declined 7% to 2,504 tonnes, and silver production fell 38% to 152,049 ounces.
The company continued advancing its Peak Processing Plant expansion, which is designed to increase annual processing capacity from approximately 800,000 tonnes to between 1.1 million and 1.2 million tonnes. The Great Cobar Project also remained on schedule and within budget, with first ore targeted for FY28. Aurelia Metals’ group Mineral Resources increased 6% to 30.6 million tonnes, while Ore Reserves grew 49% to 8.2 million tonnes, strengthening its longer-term development pipeline.
Stronger Balance Sheet and Shareholder Returns
Aurelia Metals reported cash of AU$143.9 million at 30 June 2026, up from AU$110.1 million a year earlier. Total liquidity reached AU$183.9 million, including an undrawn AU$40 million revolving credit facility within its new AU$150 million financing arrangement. The company also declared a fully franked dividend of 1 cent per share, representing its first shareholder dividend since 2020.
Outlook
For FY27, Aurelia Metals expects ore processing to increase to between 1.05 million and 1.15 million tonnes. The company anticipates higher production across gold, copper and lead, while zinc output is guided at 26,000–34,000 tonnes. The planned expansion of processing capacity, continued development at Great Cobar and operational improvements are expected to support its growth strategy. However, production and financial outcomes will remain subject to operational execution, commodity prices and other mining-sector risks.
Conclusion
Aurelia Metals delivered stronger earnings, improved cash generation and significant reserve growth in FY26. With processing expansion underway and Great Cobar progressing, the company is positioned to pursue further production growth while balancing investment requirements and shareholder returns.
Note: All data presented is based on information available at the time of writing.
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