Pls Group Limited · ASX:PLS
Pls — H1 FY25 Earnings Presentation
25 slides from Pls's earnings presentation, Feb 20, 2025
Slide 1: FY25 Interim Financial Results
20 February 2025 FY25 Interim Financial Results ASX:PLS
Slide 2: A global lithium materials supplier
A global lithium materials supplier Operate 100% ownership of Tier 1 asset (Pilgangoora) with ~33 year mine life1 Grow Pilgangoora P1000 Project expansion in ramp up with P850 operating model2 implemented to reduce costs Chemicals Integration into battery materials supply chain via JV with POSCO and
Slide 3: Our Purpose
Our Purpose Vision A leader in the provision of materials supporting the global energy transition Mission Powering a sustainable energy future Strategic Operate Grow Chemicals Diversify pillars Deliver our Achieve full Extract greater Diversify operating potential of our value along the revenue beyo
Slide 4: Operational and financial highlights
Operational and financial highlights Focus on operational performance and progressing expansion programs Operate Revenue Underlying EBITDA 1 408kt $426M $74M produced Reported EBITDA4 $48M Cash Grow Diversify P1000 Project $1.2B construction complete Latin Resources acquisition completed 3 with firs
Slide 5: Sustainability highlights
Sustainability highlights Creating a positive legacy Safety First We Deliver Shaping Tomorrow • 2.34 quality safety • Advanced Power • AA in MSCI ESG Ratings5 interactions1 Strategy3 - installing and and continued positive commissioning gas trend across ESG ratings • TRIFR2 improved to 3.58 generato
Slide 6: Colina Project update
Colina Project update On-strategy, counter-cyclical transaction to diversify revenue beyond Pilgangoora • Acquisition of Latin Resources completed 4 February 2025. • PLS to review and optimise Colina Project study including further exploration with the objective to expand resource base, test new pro
Slide 7: FY25 Interim Results - Financials
FY25 Interim Results - Financials Note: Non-IFRS financial metrics such as “Underlying Profit /Loss after tax”, “EBITDA”, “Underlying EBITDA”, “Underlying EBITDA margin”, “Cash margin from operations” and “Net Cash” are used throughout the presentation to provide additional information on business p
Slide 8: Financial results – summary
Financial results – summary Strong underlying performance impacted by lower prices period-on-period Summary Operational and Financial Metrics Units H1 FY25 H1 FY24 % • Production volume of 408.3kt was 28% higher than the prior corresponding Operations period (pcp) driven by: Production kt 408.3 320.
Slide 9: Profit and loss – summary
Profit and loss – summary Underlying EBITDA supported by cost management Summary Profit and Loss Metrics • Operating costs of $303M (excluding D&A) increased by 10% supporting an increase Units H1 FY25 H1 FY24 % in production volumes of 28%, showing the benefits of operating leverage. Revenue $M 426
Slide 10: Profit and loss – summary
Profit and loss – summary Lower unit costs reflecting transition to optimised P850 operating model Total Operating Cost and Unit Operating Cost Metrics Units H1 FY25 H1 FY24 % • Operating costs (CIF) of $303M (excluding D&A) increased by 10% supporting an increase in production volumes of 28%. Total
Slide 11: Cash flow
Cash flow Strong ending cash balance Summary Cash Flow Statement $M H1 FY25 H1 FY24 % Operating cash flow Receipts from customers 439 907 (52) • Operating cash flow remained positive at $40M in H1 FY25 notwithstanding the Payments for operating costs (398) (371) lower average realised price in the p
Slide 12: Cash flow bridge
Cash flow bridge Positive cash margin from operations Cash flow bridge – H1 FY25 • Cash balance at 31 December 2024 remains strong at $1.2B. 439 • Total cash outflow of $455M resulting in cash declining from $1.6B to $1.2B largely driven by capex. 46 1,626 • Cash margin from operations of $41M refle
Slide 13: Cash and liquidity
Cash and liquidity Strong liquidity position Summary Cash & Liquidity $M 31-Dec-24 30-Jun-24 % • Group cash and liquidity is strong with cash of $1.2B, and undrawn liquidity of $625M as at 31 December 2024. Net cash Cash 1,171 1,626 (28) • Drawn debt of $375M from the Group’s A$1B Revolving Credit F
Slide 14: Balance sheet – summary
Balance sheet – summary Summary Balance Sheet Metrics $M 31-Dec-24 30-Jun-24 % • Receivables reduction at 31 December 2024 driven by lower average realised price. Cash 1,171 1,626 (28) • Inventory increase reflects larger ore stockpiles ~$27M in line with increased production Receivables 63 78 (20)
Slide 15: Market Update
®PLS Market Update 15
Slide 16: Strong growth fundamentals
Strong growth fundamentals 2024 achieved record EV and ESS sales Global EV sales (million units)1 90 Strong EV global growth 80 • 1.3M EV sales in January representing 18% YoY growth1. 70 • EV sales forecast 19% YoY growth in 2025 and CAGR of 17% to 20301. 60 50 Industry Emergence 40 • Investment in
Slide 17: Questions
®PLS Questions 17
Slide 18: Contacts
Contacts Investor Relations James Fuller Group Manager Investor Relations T: +61 (0) 488 093 763 James.Fuller@pls.com Media Michael Vaughan Fivemark Partners T: +61 (0) 422 602 720 18
Slide 19: Appendix A
Appendix A Additional operational and financial information 19
Slide 20: Appendix A1 – Physicals summary
Appendix A1 – Physicals summary Total Ore Mined and Processed Units Sep Q FY25 Dec Q FY25 H1 FY25 H1 FY24 Ore mined wmt 1,388,698 1,191,453 2,580,151 3,029,765 Waste material wmt 8,078,567 5,728,569 13,807,137 15,706,969 Total material mined wmt 9,467,266 6,920,022 16,387,288 18,736,733 Average Li2O
Slide 21: Appendix A2 – Reconciliation
Appendix A2 – Reconciliation Statutory P&L to Management P&L Profit and loss - Statutory Profit and loss – Management $M H1 FY25 H1 FY24 % Cross ref $M H1 FY25 H1 FY24 % Cross ref Operating revenue 426 757 (44) A Operating revenue 426 757 (44) A B excluding depreciation within Operating costs (390)
Slide 22: Appendix A3 – Reconciliation
Appendix A3 – Reconciliation Reconciliation – Interim FY25 statutory net profit/(loss) and EBITDA ($M) 22 48 86 12 2 (62) (69) References (5) (74) A. Consolidated statement of profit or loss and other EBITDA Income tax EBIT tax Net loss for the Loss before expense investee period Net financing Depre
Slide 23: Appendix B
Appendix B Important notices and other supporting information 23
Slide 24: Important notices
Important notices This document has been prepared by Pilbara Minerals Limited (“PLS” or “Pilbara Minerals” or the “Group”) and is dated 20 February 2025. This document should be read in conjunction with the ASX announcement titled “FY25 Interim Results” released to the ASX on 20 February 2025. Not a
Slide 25: Important notices
Important notices Important Information regarding Mineral Resources, Ore Reserves and P1000 and P2000 Projects Information in this document regarding production targets and expansions in nameplate capacity of the Pilgangoora Operation in respect of the P1000 (and P850 operating model) and P2000 proj