Om Holdings reports half-year loss as margins shrink

Om Holdings Limited (OMH) reported a loss after tax of $9.6m for the half-year ended June 30, 2025, a significant decline from a $12.9m profit in the corresponding period of 2024. Revenue marginally increased to $309.3m (1H 2025) from $308.4m (1H 2024), driven by higher ore volumes traded at increased average selling prices, but offset by lower alloy volumes. Gross profit margin decreased to 7% from 19%, largely due to lower average selling prices for ferrosilicon and no inventory writebacks. Basic and diluted loss per share stood at (1.25) US cents.

The company's EBITDA for 1H 2025 was $19.1m, down from $46.6m in 1H 2024. Total borrowings decreased from $219.7m (December 31, 2024) to $181.2m (June 30, 2025), improving the total borrowings to equity ratio from 0.52 to 0.44 times. This reduction was primarily due to lower utilization of trade financing and revolving credit facilities, and successful refinancing of the OM Sarawak Project Finance loans.

OMH also announced an investor presentation update for September 2, 2025, to discuss the half-year results. Additionally, OMH is progressing with the sale of its 60% equity interest in OM Materials (Qinzhou) Co Ltd and its 13% interest in Tshipi Mine by early 2026. The Group received a deposit of 60m yuan for the OMQ sale. No interim dividend was declared for 1H 2025.