Liontown posts $93M maiden full year profit
- Liontown reported a full-year net profit after tax of $93 million following stronger second-half lithium prices.
- Revenue reached a record $639 million, supporting a 4.37% gain in the company's share price.
- Operations transitioned fully underground at Kathleen Valley to target a 2.8 Mtpa run rate by the end of FY27.
Liontown (ASX:LTR) achieved a maiden net profit after tax of $93 million for the financial year ended June 30, as higher second-half lithium prices lifted total revenue to $639 million.
The financial results reflect a recovery from weak lithium pricing early in the financial year after the company delivered operating cash flow of $182 million and underlying EBITDA of $147 million.
"In this financial year, Kathleen Valley produced its maiden profit and strong operating cash while still ramping up, helped in the second half by better prices," said Liontown Managing Director and CEO Tony Ottaviano.
Operational milestones included producing 391,992 dry metric tonnes of concentrate and concluding open-pit mining on schedule to transition Kathleen Valley into a 100% underground operation.
Following the announcement, the Liontown share price was up at $1.20.
The company stated that the underground ramp-up is scaling on track to hit a 2.8 Mtpa production run rate by the end of FY27.
Liontown expects to make a final investment decision on its Kathleen Valley expansion project next month.
