FY2021
Capital raising and deposit placement
Financing rebuilt liquidity, with a large portion classified separately as bank term deposits after restatement.
ASX: EGR · Five-year financial review
(ASX: EGR) EcoGraf Financial Review - FY2021~25
EcoGraf’s FY2021-FY2025 accounts show deployment of earlier funding into graphite and purification development. A separate bank-deposit view prevents treasury maturities from looking like new earnings, while project finance proposals remain distinct from cash already received.
Reading the figures: Units are stated above each table or beside the metric. Brackets denote negative amounts. Supported nil is shown as zero; unlike reporting bases remain separately labelled.
FY2025 cash
A$11.202m
Balance-date cash equivalents.
Net loss
A$5.119m
Statutory group result.
Exploration asset
A$37.167m
Capitalised carrying value.
Operating cash
A$6.464m used
Not total development spending.
Five years in context
EcoGraf is developing an integrated graphite and battery-anode business. Epanko spending is capitalised under its policy, while spending on other exploration projects is expensed, so accounting losses alone do not measure total project investment.
Bank due diligence, proposed credit support and a US funding application describe possible financing. They are not added to June cash: the US application remains conditional on need and available funding.
Events behind the numbers
FY2022
First deposit maturity
A$10m of term deposits returned to cash as operating activities used funds.
FY2023
Remaining deposits mature
Cash equivalents rose as A$40m matured, even though the combined cash-and-deposit pool declined.
FY2024
Cash deployed into development
Operating and investing outflows reduced cash as exploration carrying values increased.
FY2025
Pilot facility and pre-development work
The qualification facility was commissioned in July 2024; Epanko engineering and financing due diligence progressed.
FINANCIAL REVIEW / 01
Follow total bank liquidity, not just reclassified cash
The FY2023 cash-equivalent increase is a deposit reclassification story, not a reversal of cash consumption. The combined measure gives the clearer funding trajectory across the five years.
Cash plus separately reported term deposits
A$ million
Cash plus separately reported bank term deposits
AI-generated presentation · values from Cash and bank-deposit comparison; no missing values plotted as zero.
Assets and equity
A$ million
Total assetsTotal equity
AI-generated presentation · values from Consolidated assets, equity and exploration; no missing values plotted as zero.
Cash and bank-deposit comparison
A$ million
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Cash and equivalents | 2.633 | 6.728 | 38.606 | 25.459 | 11.202 |
| Cash plus separately reported bank term deposits | 52.633 | 46.728 | 38.606 | 25.459 | 11.202 |
FY2021 cash uses the later restated classification. FY2021/FY2022 combined amounts include A$50m/A$40m term deposits; FY2023 term deposits are nil. FY2024-FY2025 use cash, with no separate term-deposit asset shown in the selected balance sheets.
Rows overlap: do not add cash to the combined measure. Deposit maturity is not income.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
Consolidated assets, equity and exploration
A$ million
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Total assets | 71.644 | 65.731 | 62.091 | 55.887 | 49.936 |
| Total equity | 70.330 | 63.418 | 58.896 | 50.810 | 47.173 |
| Exploration and evaluation assets | 18.238 | 18.403 | 22.975 | 29.292 | 37.167 |
Exploration is included within total assets and is not additional to them. Figures are converted from A$ thousand to A$ million.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
FINANCIAL REVIEW / 02
Cash consumed while development assets accumulate
Recent operating and investing cash outflows occurred without a new net financing inflow. Early investment cash totals include deposit principal, so they should not be labelled annual construction spending.
Loss and operating cash
A$ million
Loss after income taxNet operating cash flow
AI-generated presentation · values from Loss and operating cash; no missing values plotted as zero.
Net financing
A$ million
Net financing cash flow
AI-generated presentation · values from Investing and financing cash; no missing values plotted as zero.
Loss and operating cash
A$ million
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Loss after income tax | (5.514) | (7.505) | (7.299) | (5.705) | (5.119) |
| Net operating cash flow | (2.529) | (5.988) | (7.724) | (5.361) | (6.464) |
FY2023 loss uses the FY2024 comparative to preserve the stated A$ thousand unit. Government-grant income recognition differs from receipt timing.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
Investing and financing cash
A$ million
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Net investing cash flow | (50.146) | 9.973 | 39.172 | (7.696) | (7.683) |
| Net financing cash flow | 52.529 | 0.110 | 0.454 | (0.090) | (0.113) |
FY2021 investing includes A$50m placed into deposits; FY2022/FY2023 include deposit maturities of A$10m/A$40m. Gross investing flow is therefore not project capex.
FY2024 and FY2025 financing amounts are outflows, not inflows despite legacy label wording.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
FINANCIAL REVIEW / 03
Grant timing and contingent funding matter
The qualification-facility grant is initially deferred and recognised against related costs over time. Separately, a Tanzanian VAT refund rejection is under appeal; management’s recovery view is not cash collected.
Planned plant capacity, study NPV and finance-facility targets are not realised production, company valuation or committed drawdowns. They are deliberately kept outside the financial tables.
Reading the figures
- FY2021 bank cash classification is restated; the cash-plus-deposit measure is supplied to avoid a false growth story.
- No projected capacity, study valuation or proposed funding is treated as a reported financial result.
- VAT recovery remains subject to the described appeal or future tax utilisation; no cash recovery is assumed.
- Prepared from existing year-by-year extraction records only. No raw-source retrieval, database query, financial web research or MiniMax call. Primary-author review, not an independent original-document audit; published.
Annual-report source registry
- EcoGraf - Annual Report to shareholdersExisting annual extraction, including separately identified historical comparatives.
- EcoGraf - Annual Report to shareholdersExisting annual extraction, including separately identified historical comparatives.
- EcoGraf - Annual Report to shareholdersExisting annual extraction, including separately identified historical comparatives.
- EcoGraf - Annual Report to shareholdersExisting annual extraction, including separately identified historical comparatives.
- EcoGraf - Annual Report to shareholdersExisting annual extraction, including separately identified historical comparatives.
Prepared solely from the existing year-by-year extraction datasets. No raw annual-report body, PDF, new database lookup or financial web research was used. Review is against those stored extractions, not a new independent original-document audit.
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