West African Resources Income Statement

Financials in millions AUD. Fiscal year is January - December.

Millions AUD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	1,543	730	661.23	608.23	712.14
Revenue Growth (YoY)	111.37%	10.40%	8.71%	-14.59%	128.86%
Cost of Revenue	663	377.7	390.87	324.68	306.81
Gross Profit	880	352.3	270.35	283.55	405.34
Selling, General & Admin	14	11.6	9.79	7.79	5.74
Research & Development	-	-	-	-	1.22
Other Operating Expenses	33.9	5.8	17.48	9.7	6.18
Operating Expenses	60.5	22.4	33.93	24.83	17.91
Operating Income	819.5	329.9	236.42	258.72	387.42
Interest Expense	-30	-2.8	-1.77	-2.11	-58.73
Currency Exchange Gain (Loss)	18.4	15	6.45	0.95	-7.15
EBT Excluding Unusual Items	807.9	342.1	241.09	257.56	321.55
Pretax Income	807.9	342.1	241.09	257.56	321.55
Income Tax Expense	240.5	95.9	76.3	73.85	107.11
Earnings From Continuing Operations	567.4	246.2	164.8	183.71	214.44
Minority Interest in Earnings	-93.5	-22.4	-17.92	-19.26	-25.47
Net Income	473.9	223.8	146.87	164.44	188.96
Net Income to Common	473.9	223.8	146.87	164.44	188.96
Net Income Growth	111.75%	52.38%	-10.69%	-12.98%	111.46%
Shares Outstanding (Basic)	1,140	1,080	1,025	1,021	902
Shares Outstanding (Diluted)	1,148	1,086	1,031	1,031	912
Shares Change (YoY)	5.68%	5.33%	-0.01%	13.06%	3.60%
EPS (Basic)	0.42	0.21	0.14	0.16	0.21
EPS (Diluted)	0.41	0.21	0.14	0.16	0.21
EPS Growth	100.48%	45.07%	-10.69%	-23.19%	104.95%
Free Cash Flow	358.4	-235.7	-19.73	3.31	241.7
Free Cash Flow Per Share	0.31	-0.22	-0.02	0.00	0.27
Gross Margin	57.03%	48.26%	40.89%	46.62%	56.92%
Operating Margin	53.11%	45.19%	35.75%	42.54%	54.40%
Profit Margin	30.71%	30.66%	22.21%	27.04%	26.53%
Free Cash Flow Margin	23.23%	-32.29%	-2.98%	0.54%	33.94%
EBITDA	915.3	400.7	317.97	313.04	444.72
EBITDA Margin	59.32%	54.89%	48.09%	51.47%	62.45%
D&A For EBITDA	95.8	70.8	81.56	54.32	57.29
EBIT	819.5	329.9	236.42	258.72	387.42
EBIT Margin	53.11%	45.19%	35.75%	42.54%	54.40%
Effective Tax Rate	29.77%	28.03%	31.65%	28.67%	33.31%

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.