PLS Group Limited reported a statutory net profit after tax of $526 million for the 2026 financial year, rebounding from a net loss of $196 million in FY25, underpinned by record operational output and higher realized pricing across its assets.

Spodumene concentrate production reached 879.5 kilotonnes during the 12-month period, representing a 17% increase compared to the 754.6 kilotonnes produced in the previous financial year. Revenue climbed 152% to $1,934 million, up from $769 million in FY25, driven by the higher production volumes alongside a 121% increase in the average estimated realized price to US$1,488 per tonne.

The company holds 100% ownership of the Pilgangoora Operation in Western Australia. Operational efficiencies and volume growth helped reduce unit operating costs on an FOB basis by 9% to $569 per tonne.

The financial strengthening supported an increase in the company's cash balance to $2,290 million at the end of the period, compared to $974 million at the close of FY25. During the year, PLS also updated study timelines and advanced feasibility studies for the P2000 and Colina projects.

“FY26 was a record year for PLS, demonstrating our through-cycle strategy in action. We had positioned the business to respond quickly when market conditions improved and, as the lithium market strengthened, we acted - bringing idled capacity back into production and shifting our focus decisively from defence to growth.”

“That preparation is reflected in the results. We delivered record production of approximately 880 thousand tonnes while reducing unit operating costs by 9%, generating $1.1 billion of underlying EBITDA at a 59% margin and $1.4 billion of cash margin from operations. These are strong outcomes and a credit to our team.”

— Dale Henderson, Managing Director and CEO

The board determined a fully franked final dividend of 5 cents per share, representing a total distribution of approximately $161 million payable on 24 September 2026, concluding a transformative financial period for the company.

Read the full announcement: FY26 Full Year Results