Aeris Resources delivered a standout FY26 with revenues up 22% and profit after tax surging 295%, buoyed by operational gains and a strategic acquisition of Peel Mining.
- Revenue rises 22% to $702.8 million
- Adjusted EBITDA jumps 77% to $318.2 million
- Net profit after tax surges 295% to $178.5 million
- Peel Mining acquisition completed, adding high-grade copper deposits
- First mandatory Sustainability Report published under AASB S2
Profit Soars on Operational Strength and Strategic Moves
Aeris Resources Limited (ASX:AIS) has reported a striking financial turnaround for the year ended June 30, 2026, with net profit after tax soaring 295% to $178.5 million. This leap was underpinned by a 22% increase in revenue to $702.8 million and a 77% rise in adjusted EBITDA to $318.2 million, reflecting both higher commodity prices and improved operational output.
The Tritton Copper Operations led the charge, producing 22,999 tonnes of copper; up 19% year-on-year; and generating $467.5 million in revenue, a $164.4 million increase. Cracow Gold Operations also contributed, with revenue climbing $36.9 million to $234.4 million, despite a modest dip in gold production to 40,599 ounces.
Capital Raise and Debt Repayment Bolster Balance Sheet
In November 2025, Aeris raised $80 million through an institutional placement and an oversubscribed $21.6 million share purchase plan at $0.45 per share. Proceeds were partly used to repay and cancel a $50 million loan facility with Washington H. Soul Pattinson (WHSP), improving financial flexibility and reducing finance costs. Cash and cash equivalents ballooned to $164.9 million by year-end, up nearly 485% from $28.2 million the prior year, while net assets almost doubled to $599.5 million.
This strengthened financial position provides a solid platform for Aeris to advance key growth projects, notably the Constellation deposit, where mining lease approval was secured in July 2026 and early construction activities have commenced.
Acquisition of Peel Mining Adds High-Grade Copper Assets
Aeris completed the acquisition of Peel Mining Limited on July 1, 2026, in a share-for-share scheme that issued nearly 300 million Aeris shares valued at approximately $111 million. Peel brings the Mallee Bull and Wirlong deposits in the southern Cobar Basin into Aeris’ portfolio, both high-grade copper deposits with strong development potential. Mallee Bull, in particular, has a well-defined mineral resource and a declared maiden underground ore reserve, with permitting and metallurgical work underway to expedite development.
The acquisition significantly expands Aeris’ resource base and aligns with its strategy to build a long-life copper hub around the Tritton mill. Exploration plans for Wirlong aim to further delineate its potential.
First Mandatory Sustainability Report Highlights Climate Governance
FY26 also marked Aeris’ inaugural mandatory Sustainability Report under the Australian Sustainability Reporting Standard AASB S2. The report details governance structures embedding climate-related risk management at the board and executive levels, including a dedicated Sustainability Committee. It outlines identified climate risks such as extreme weather events, evolving regulations, and technology transition challenges, alongside opportunities driven by rising copper demand for decarbonisation.
Scenario analyses under both orderly transition and high physical risk pathways found Aeris’ strategy resilient, supported by ongoing investments in infrastructure and emissions reduction initiatives. Aeris has yet to set formal emissions targets but is developing an action plan to integrate climate considerations into financial planning and capital allocation.
Executive Remuneration Reflects Strong Performance
The Remuneration Report reveals a calibrated approach to executive pay, balancing fixed salaries with short- and long-term incentives linked to shareholder returns and resource growth. Total key management personnel remuneration rose to $8.3 million in FY26 from $4.6 million, reflecting improved company performance and share-based payments aligned with long-term value creation.
Notably, the company appointed Dr Carmen Letton to the board in July 2026, enhancing governance with her extensive mining and mineral economics expertise, while former director Robert Millner stepped down in December 2025.
What to Watch Next
Aeris is poised to sustain its momentum into FY27, with production guidance largely steady and growth capital expected to nearly double, driven by Constellation and exploration ramp-ups. The integration and development of Peel Mining’s assets will be critical to watch, as will the company’s evolving climate strategy and its impact on capital allocation. Commodity price volatility and operational execution remain key variables for investors to monitor.
Bottom Line?
Aeris Resources’ FY26 performance and strategic acquisitions position it well for growth, but execution on new projects and climate adaptation will test resilience.
Questions in the middle?
- How will the Peel Mining acquisition impact Aeris’ production profile and costs in FY27 and beyond?
- What specific emissions reduction initiatives will Aeris adopt as it develops its climate action plan?
- How sensitive is Aeris’ profitability to fluctuations in copper and gold prices given current hedging policies?