Key points
- 1H26 Gross Profit of $8.5m, up 63% on the prior year
- 1H26 Reported Net Profit After Tax of $1.1 million
- Net debt of $0.8m and net debt to net debt + equity ratio of 1.8% as of 30 June 2026
Full summary
Magontec Limited, a global manufacturer of specialist magnesium products and electronic anodes, announced its financial results for the half year ended 30 June 2026. The company reported a gross profit of $8.5 million, a significant 63% increase from the prior corresponding period. The reported net profit after tax stood at $1.1 million. Underlying operating cashflow was $2.7 million. The company's net debt was $0.8 million, and the net debt to net debt + equity ratio was 1.8%. Net assets were $45.2 million as of 30 June 2026. The executive chairman noted a strong recovery across major business activities, driven by the Group's market-leading electronic anodes product and improved performance in the Metals business.
Guidance
1H26 Gross Profit of $8.5m, up 63% on the prior year
Outlook
The outlook for the second half of 2026 is expected to show a similar trajectory with underlying economics for the key Mg alloy die casting and hot water appliance industries indicating a recovery.