Hazer Group Limited (ASX:HZR) Announces FY25 Half-Year Results
Financial Performance
Hazer Group reported a 46% increase in revenue to $2.3 million for H1 FY25, up from $1.6 million the previous year. The company maintained a robust cash position of $9.3 million, enhanced by non-dilutive funding sources. Operating costs decreased by 12% due to lower CDP expenditure and corporate costs. CDP capital spend was reduced to $0.6k from $5.1 million.
Operational Highlights
Hazer successfully completed the Commercial Demonstration Plant (CDP) performance test program ahead of schedule in November 2024, achieving over 1,250 hours of continuous operation. The FortisBC Canada project progressed through key milestones, receiving its first revenues from engineering services. Preliminary FEED was completed, and site selection is ongoing with several locations under feasibility studies.
Corporate Developments
Hazer extended its strategic partnership with Mitsui for graphite marketing following positive market feedback. The company strengthened its intellectual property portfolio by securing key patents in Europe and Japan, increasing its global patent coverage to over 70 patents and applications.
Outlook and Priorities
Looking ahead to CY2025, Hazer will focus on commercializing its technology, monetizing graphite, accelerating the FortisBC project towards Final Investment Decision, and maintaining corporate and financial discipline to ensure efficient capital use and commercial growth.
Executive Comments
Glenn Corrie, CEO and Managing Director of Hazer, stated, “Hazer has achieved significant milestones this H1 FY25, demonstrating the commercial readiness of our technology and the strength of our partnerships. The successful completion of our CDP testing program and the FortisBC pilot rig testing reinforce the reliability and scalability of the Hazer Process. We are also delighted to have secured key patents in Europe and Japan, further strengthening our intellectual property portfolio. With a strong cash position, ongoing revenue from FortisBC, and the support of the Western Australian Government, Hazer is well-positioned to capitalize on the growing demand for clean hydrogen and graphite.”
Motley Fool contributor Kiarra Jackson has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has positions in and has recommended Apa Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
This article was generated using GPT-4o mini, a Large Language Model (LLM), to generate summaries of investing news. While AI is generating the content, we know better than to blindly trust our future robot overlords, and every article is edited and fact-checked by an editor holding the appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content of everything published by The Capital Club.