Key points
- Profit after tax surged to US$26.3 million from a loss of US$9.6 million in 1H 2025
- EBITDA increased to US$87.0 million from US$19.1 million in 1H 2025
- Revenue decreased by 14% to US$265.2 million due to lower volumes sold
- Gross profit and margin improved significantly despite lower revenue
- Total borrowings reduced by 15% from US$213.1 million to US$181.1 million
Full summary
OMH reported a significant improvement in its financial performance for the half-year ended 30 June 2026. The company reported a profit after tax of US$26.3 million, compared to a loss of US$9.6 million in the same period last year. EBITDA increased from US$19.1 million to US$87.0 million. Revenue decreased by 14% to US$265.2 million due to lower volumes sold, but gross profit increased by 40% to US$30.3 million. The company's gross profit margin also improved from 7% to 11%. Total borrowings decreased by 15% from US$213.1 million to US$181.1 million. The company's consolidated cash position increased to US$48.8 million as at 30 June 2026, up from US$23.9 million as at 31 December 2025. The company did not declare an interim dividend for 1H 2026.
Guidance
Profit after tax expected to be US$50 million for FY 2026
Outlook
OMH anticipates continued improvement in financial performance for the second half of the year, driven by higher average selling prices and improved operational efficiencies.