Liontown Resources FY26 Results
Liontown Resources reported its first annual net profit after tax of A$93 million (approximately US$67 million) for the fiscal year ending 2026, a turnaround from a A$193 million loss in the prior year. On an underlying basis, net profit after tax reached A$14 million, reversing an underlying loss of A$140 million recorded in FY25.
Revenue climbed to a record A$639 million, more than double the A$298 million generated in the previous year. The revenue increase was underpinned by a 35 % rise in concentrate tonnes sold and a 75 % jump in realised lithium prices. Underlying EBITDA expanded sharply to A$147 million from A$20 million a year earlier, while operating cash flow surged to A$182 million compared with just A$1 million in the prior period.
Gross profit from operations turned positive at A$94 million, contrasting with a A$144 million operating loss in the previous year, and the company recognised a deferred tax asset of A$113 million for carried‑forward tax losses. The board did not declare a dividend, stating that cash will be reinvested to transition the Kathleen Valley mine to fully underground operations and to support the planned expansion.
Chief Executive Officer Tony Ottaviano described the year as having “two very different halves,” noting that weak early‑year lithium prices prompted strict cost discipline, after which the company reinvested as prices recovered. He confirmed that the underground ramp‑up remains on schedule, targeting a production run rate of 2.8 million tonnes per annum by the end of FY27. The FY26 guidance was met, and a final investment decision on the Kathleen Valley expansion is expected in the coming month.