Half Year 2026 Westgold Resources Ltd Earnings Call Transcript
Key Points
- Westgold Resources Ltd (WGXRF) reported a record financial performance for the first half of 2026, with revenues effectively doubling compared to the previous year.
- The company achieved a significant increase in underlying EBITDA, rising to $612 million from $224 million, and a substantial uplift in net profit before tax to $447 million from $89 million.
- Westgold Resources Ltd (WGXRF) successfully strengthened its balance sheet, ending the period with a closing treasury balance of $654 million, up from $152 million in H1FY25.
- The company maintained its production and cost guidance for FY26, with a clear path to grow production from 326,000 ounces in FY25 to 470,000 ounces by FY28.
- Westgold Resources Ltd (WGXRF) demonstrated its commitment to shareholder returns by declaring a $0.03 per share final dividend for FY25 and launching a 5% on-market share buyback program.
- Despite the strong financial performance, Westgold Resources Ltd (WGXRF) did not declare an interim dividend for H1FY26, citing the timing of franking credits as the reason.
- The company reported a one-off accounting loss of $178 million on the sale of the Mount Henry Selim project, which impacted the statutory profit.
- Westgold Resources Ltd (WGXRF) faced high all-in sustaining costs of $3,225 per ounce for the half, which could pressure margins if gold prices fluctuate.
- The company has not factored in potential production from new ore purchase agreements into its FY26 guidance, indicating a conservative approach that may limit upside potential.
- Westgold Resources Ltd (WGXRF) is still in the process of building its franking credits, which affects its ability to pay fully franked dividends in the short term.
Welcome to the Westgold Resources first half 26 financial results presentation. Our presenter today is Westgold Managing Director and CEO Wayne Branwell. Go ahead, Wayne.
Thank you, Steve, and welcome to everyone on the call.
Thank you for taking the time to dial in today. With me today I have our Chief Financial Officer, Tommy Hng.
We are assuming you've all seen our report. I'm going to hand over to Tommy to run today's call, and I'll jump in at the end to talk to what's ahead, before opening up the call for questions. So Tommy, over to you.
Thanks, Wayne. It's fair to say that this was a record half. But before I go through the numbers, I think it's important to reflect on the journey that has brought us to this point. Our outcomes this half aren't accidental. They stem from years of disciplined effort. We worked through the tough
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