Financial Performance - Customer revenue for the year ended December 31, 2024, was AUD 72,804,000, an increase of 20.0% from AUD 60,495,000 in 2023[3] - Gross profit for the year ended December 31, 2024, reached AUD 21,196,000, compared to AUD 5,945,000 in 2023, reflecting a significant increase[3] - Profit before tax for the year ended December 31, 2024, was AUD 17,043,000, up from AUD 7,527,000 in 2023, representing a growth of 126.5%[3] - Net profit after tax for the year ended December 31, 2024, was AUD 12,876,000, compared to AUD 5,189,000 in 2023, marking an increase of 147.5%[3] - Basic and diluted earnings per share for the year ended December 31, 2024, were AUD 8.14, up from AUD 3.28 in 2023, indicating a growth of 148.8%[3] - Total comprehensive income for the year ended December 31, 2024, was AUD 14,006,000, compared to AUD 8,167,000 in 2023, an increase of 71.5%[4] Assets and Liabilities - Total assets as of December 31, 2024, amounted to AUD 132,572,000, up from AUD 108,315,000 in 2023, reflecting a growth of 22.4%[6] - Total liabilities as of December 31, 2024, were AUD 49,808,000, compared to AUD 39,557,000 in 2023, an increase of 25.9%[6] - Net assets as of December 31, 2024, reached AUD 82,764,000, up from AUD 68,758,000 in 2023, indicating a growth of 20.4%[6] Cash Flow - Cash and cash equivalents as of December 31, 2024, were AUD 40,313,000, compared to AUD 22,168,000 in 2023, representing an increase of 81.9%[6] - Operating cash flow for the year ended December 31, 2024, increased to AUD 76,239 thousand from AUD 60,541 thousand in 2023, representing a growth of 25.9%[8] - Net cash generated from operating activities rose significantly to AUD 24,596 thousand, compared to AUD 8,668 thousand in the previous year, marking an increase of 184.5%[8] - Cash and cash equivalents at the end of the period reached AUD 40,313 thousand, up from AUD 22,168 thousand in 2023, reflecting an increase of 81.8%[8] - The company reported a net increase in cash and cash equivalents of AUD 17,472 thousand for the year, compared to AUD 5,267 thousand in 2023, which is a 231.5% increase[8] Investments and Expenditures - Total cash used in investing activities was AUD 6,959 thousand, compared to AUD 3,229 thousand in 2023, indicating a 115.1% increase in investment outflows[8] - The company made payments of AUD 1,865 thousand for development activities, up from AUD 1,385 thousand in 2023, which is an increase of 34.7%[8] - The company confirmed a reduction in exploration and evaluation asset write-offs, with no expenses recorded in 2024 compared to AUD 300 thousand in 2023[134] Taxation and Compliance - The company has tax losses available for offsetting future taxable profits amounting to approximately AUD 21.8 million in Australia and AUD 41.0 million in Sweden[137] - The financial statements were prepared in accordance with International Financial Reporting Standards, ensuring compliance with relevant regulations[11] - The company has adopted all new and revised standards effective from January 1, 2024, with no significant impact on its financial position or performance[11] Employee Benefits and Compensation - Employee benefits totaled AUD 9,961 thousand in 2024, up from AUD 9,170 thousand in 2023, with salaries and wages accounting for AUD 8,158 thousand[135] - Total remuneration for key management personnel increased to 1,611,057 AUD in 2024 from 1,519,286 AUD in 2023[190] - Total compensation for designated directors in 2024 is AUD 875,941, representing a 2.5% increase from AUD 855,407 in 2023[193] - Total compensation for specified executives in 2024 is AUD 735,116, reflecting a 10.8% increase from AUD 663,879 in 2023[193] Environmental and Regulatory Matters - The company has maintained its commitment to gold mining and exploration, with a focus on expanding its operations in Sweden and Finland[9] - The Vammala environmental permit has been upheld, requiring additional environmental monitoring and updated operational plans[175] - The company has recorded a restoration provision related to mining operations, with a discount rate of 3.2% in Finland and 2.5% in Sweden as of December 31, 2024[172] Accounting Policies and Estimates - Significant accounting estimates and assumptions are made regarding the valuation of assets and liabilities, particularly concerning mineral resources and ore reserves[106] - The recoverable amount of the Vammala cash-generating unit is determined based on the higher of its fair value less costs of disposal or its value in use, which includes future cash flow calculations[110] - Impairment is recognized when the carrying amount of a cash-generating unit exceeds its recoverable amount, indicating a need for asset impairment[111] Shareholder Information - The company’s major shareholder, Asia Pacific Resources Limited, holds a 45.36% stake as of December 31, 2024, up from 43.5% in 2023[194] - Brett Smith's salary increased by 5% to AUD 336,735 in 2024, excluding retirement benefits[194]
龙资源(01712) - 2024 - 年度业绩