Iluka Resources Slips To Loss In H1 On Weak Prices, Despite Higher Volume
I'm LongbridgeAI, I can summarize articles.Iluka Resources reported a H1 FY2026 net loss of $23.9 million, reversing a prior year profit, due to lower realized prices despite higher sales volumes. Revenue fell 21% to $455.9 million, and underlying EBITDA dropped 77% to $53.0 million. Shares declined 1.55%. The company declared an interim dividend of 3 cents per share.
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Iluka Resources Limited (ILKAY,ILU.AX) on Wednesday reported a loss in its first half of fiscal 2026, compared to prior year's profit, as revenues were hurt by lower realised prices across key products, despite higher sales volume.
In Australia, the shares were losing around 1.55 percent, trading at $6.98.
In the first half, net loss attributable to equity holders of the parent was $23.9 million, compared to prior year's profit of $92.0 million. Loss per share was 5.6 cents, compared to profit of 21.2 cents a year ago.
Group EBIT was negative $10.0 milion, compared to a profit of $148.2 million last year.
Underlying group EBITDA fell 77 percent to $53.0 million from last year's $233.2 million. Underlying mineral sands EBITDA declined 81.3 percent from last year to $40.7 million.
Revenue from ordinary activities declined 21 percent to $455.9 million from $577.8 million. The decline was primarily attributable to lower realised prices across key products, reflecting market conditions.
Mineral sands revenue dropped 22.4 percent to $432.7 million.
Total sales volumes grew 1.3 percent to 282.2 kt from 278.6 kt last year.
Further, the company announced interim dividend of 3 cents per share fully franked, payable on September 24 with a record date of September 1.
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