PLS Group Ltd. has reported a record 2026 fiscal year, driven by a rebound in commodity pricing, record production volumes, and stringent cost control.
Underlying earnings jumped to AU$1.14 billion at a 59 per cent margin, while statutory net profit after tax surged to AU$526 million, compared to a net loss of AU196 million in 2025.
The miner reported a 152 per cent jump in annual revenue to AU$1.93 billion, supported by a 121 per cent surge in average realised pricing to US$1,488 per tonne and a 17 per cent increase in sales volume to 891,600 tonnes.
The robust earnings prompted the board to declare a fully franked final dividend of 5 cents per share, totalling roughly AU$161 million.
“FY26 was a record year for PLS, demonstrating our through-cycle strategy in action,” said CEO Dale Henderson.
“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.”
Operational discipline saw unit operating costs (FOB) improve by 9 per cent to AU$569 per tonne. Strengthened operational cash generation and an inaugural US$600 million bond issuance pushed PLS’s cash reserve to AU$2.29 billion.
With market conditions improving, PLS pivoted from defensive positioning toward active expansion. The company initiated the restart of its idled Ngungaju processing plant and approved AU$175 million in pre-FID capital expenditure for its P2000 expansion study.
The company also reported progress on sustainability metrics, achieving a 5 per cent reduction in Scope 1 and 2 emissions alongside a reduction in its Total Recordable Injury Frequency Rate (TRIFR) to 2.77.
“We enter FY27 larger, lower cost and financially stronger than we were a year ago,” Henderson said.
“We remain confident in the long-term opportunity for lithium, and our focus is on continuing to execute well, allocating capital with discipline and delivering value for our shareholders.”
