Genesis Minerals Limited – 2025 Interim Results Summary
Website: genesisminerals.com.au
Overview
Genesis Minerals Limited (ASX: GMD) reported strong financial and operational performance for the half-year ended 31 December 2024, with a 57% increase in revenue and a 161% rise in net profit after tax (NPAT). The company’s continued operational expansion and cost efficiencies have supported its strong profitability growth.
Financial Performance (Per Share Basis Where Applicable)
| Metric | H1 FY25 | H1 FY24 (Restated) | % Change |
|---|---|---|---|
| Revenue ($’000) | 338,732 | 215,924 | +57% |
| EBITDA ($’000) | 153,649 | 54,639 | +181% |
| Operating Cash Flow ($’000) | 140,880 | 75,759 | +86% |
| Earnings Before Tax ($’000) | 84,841 | 22,885 | +271% |
| Net Profit After Tax ($’000) | 59,800 | 22,885 | +161% |
| Net Tangible Assets per Share ($) | 0.96 | 0.80 | +20% |
| Basic EPS (cents) | 5.49 | 2.28 | +141% |
| Diluted EPS (cents) | 5.30 | 2.19 | +142% |
Key Highlights and Concerns
- Revenue growth of 57%, driven by higher gold production and improved gold prices.
- Record gold sales of 86,527 ounces, with an average price of A$3,909/oz (up from A$2,984/oz in H1 FY24).
- Higher production efficiency, supported by the restart of the Laverton Mill in October 2024 (six months ahead of plan).
- Operational milestones achieved, including first stope production at Ulysses underground mine and commencement of mining at Hub open pit.
- Improved cost management, with All-in Sustaining Cost (AISC) at A$2,383/oz, slightly higher than A$2,114/oz in H1 FY24 due to increased development activities.
Outlook Commentary
- Upgraded FY25 production guidance to 190,000 – 210,000oz (previously 162,000 – 188,000oz), reflecting operational improvements.
- Strong development pipeline, including Tower Hill open pit project, progressing on schedule with key approvals in place.
- Expansion at Leonora and Laverton operations to enhance production capabilities.
- Continued focus on sustainability initiatives, including climate risk assessments and community engagement programs.
Guidance Statements
- Genesis Minerals remains focused on achieving its 5-Year “ASPIRE” plan, with an emphasis on sustainable growth.
- Gold price hedging strategy in place, securing downside protection with zero-cost collars for 12,000 ounces per quarter from January 2025 to December 2025.
- Further operational efficiencies and cost optimizations planned to support margin expansion.
Result vs. Market Expectations
- The results exceeded market expectations, particularly in profitability and cash flow generation.
- Higher-than-expected gold sales and production output positively impacted earnings.
- Investors will closely monitor cost discipline and execution of growth projects.
Market Positioning
- GMD’s share price was stable leading into the report, reflecting investor confidence in the company’s operational execution.
- The stock remains well-positioned, supported by its strong financials and robust production pipeline.
- Potential share price upside if cost efficiencies improve and development projects proceed as scheduled.
Disclaimer: This information is provided purely for educational purposes. It takes no account of an individual’s personal financial circumstances and hence can in no way constitute financial advice. The above data may be subject to errors or inconsistencies for which the author takes no liability. It is imperative that all investors do their own research or if they need advice, seek it from a qualified financial adviser.
Quick Take: H1FY25 ASX:GMD