RBR Group Limited narrowed its half-year loss to $588,746 as Mozambique LNG project activities resumed, underpinning cautious optimism amid ongoing funding challenges.
- Half-year loss reduced to $588,746 from $659,533
- Revenue increased to $620,449 despite project delays
- Mozambique LNG construction officially restarted post force majeure
- Completed 30-for-1 share consolidation and raised $471k capital
- Material uncertainty remains over going concern due to funding needs
Financial Performance and Capital Moves
RBR Group Limited reported a half-year loss of $588,746 for the six months ending 31 December 2025, an improvement from the $659,533 loss recorded in the previous corresponding period. Revenue rose modestly to $620,449, reflecting ongoing operational efforts despite broader economic headwinds in Mozambique. The company undertook a significant capital raising of approximately $471,000 during the period and completed a 30-for-1 share consolidation, aiming to strengthen its financial position and shareholder base.
Operational Focus on Mozambique LNG Project
RBR continues to concentrate its activities on infrastructure support, mining services, labour hire, and civil construction in Mozambique, particularly linked to the high-profile Mozambique LNG project. Following the lifting of force majeure and formal government approval in early 2026, construction activities led by TotalEnergies have fully recommenced onshore and offshore at the Afungi Peninsula. This milestone has mobilised over 4,000 personnel on site, with expectations of further workforce expansion as procurement and contractor mobilisation accelerate.
This restart represents a pivotal moment for the Rovuma Basin region and significantly enhances RBR’s near-term commercial prospects. The company has lodged expressions of interest and tenders exceeding US$80 million across camp infrastructure, labour services, and training, although contract awards remain uncertain. The Board views this development as a catalyst for increased tender activity and potential contract execution.
Facility Development and Regional Presence
In southern Mozambique’s Temane region, RBR advanced its wholly owned Shankara Village training and accommodation facility, adding new lodge amenities such as a modern kitchen, restaurant, pool, and bar. The camp remains occupied by workers servicing the nearby Temane Gas facility, with rising demand for accommodation and training services supporting RBR’s growth strategy in the region.
Financial Risks and Going Concern Considerations
Despite operational progress, RBR’s financial statements highlight a material uncertainty regarding its ability to continue as a going concern. Current liabilities exceed current assets, and the company depends on securing additional funding through equity or debt to sustain operations. The Directors express confidence in raising necessary capital, supported by a history of successful capital raisings and ongoing discussions with convertible note holders. Cost management and pursuit of higher-margin recurring revenue streams remain priorities to improve financial resilience.
Outlook and Market Positioning
Looking ahead, RBR is cautiously optimistic about the LNG sector’s recovery in Mozambique and the associated infrastructure projects. The restart of major LNG developments by TotalEnergies and ExxonMobil could unlock substantial contract opportunities for RBR’s core services. However, the company must navigate political uncertainties, project execution risks, and funding challenges to capitalise fully on these prospects.
Bottom Line?
RBR’s path to profitability hinges on contract wins and successful capital raises amid Mozambique’s LNG resurgence.
Questions in the middle?
- Which contracts will RBR secure from the $80 million tender pipeline in Mozambique?
- How will RBR manage its funding needs to mitigate going concern risks?
- What impact will Mozambique’s political stability have on project timelines and RBR’s operations?