Pilbara Minerals swings to full-year loss on tumbling lithium prices
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The news: Lithium miner Pilbara Minerals slumped to a statutory loss of $196 million for the 2025 financial year, down from a net profit of $257 million a year ago, as revenue suffered from lower lithium prices during the period.
The numbers: The result was worse than the $121 million loss expected by analysts, according to Visible Alpha data.
Revenue fell 39% year on year to $769 million, in line with consensus estimates, driven by a 43% slide in the average realised price of lithium.
The context: Pilbara Minerals said the statutory loss reflected lower pricing, higher depreciation expense, construction costs for its mid-stream demonstration plant project, and non-cash impacts from the group's investment in the POSCO Pilbara Lithium Solutions joint venture.
Last month, the miner topped production guidance for the year, and guided for a further increase in fiscal 2026.
Managing director and CEO Dale Henderson said lithium markets experienced "material pricing pressure" in FY25 but noted that "long-term fundamentals for lithium remain intact".
What they said: "Current prices are not sufficient to incentivise new supply, which points to potential tightness ahead," he said.
"While market volatility may persist in the near term, our confidence is anchored in what we control — disciplined execution, operational excellence and strategic agility."
The source: ASX
