Star Energy Group Plc

STAR · AIM · Energy · mcap £39m · 20.0p

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Financials · LTM to 30 Jun 26

Source: results 16 Sep 26 ↗

Revenue: £39.6m
Operating profit: £2.4m
Net income: −£844k
Free cash flow: −£250k
Net cash: £4.9m
Market cap: £38.6m
EV / EBIT: 13.3×
FCF yield: −0.7%
Price / book: 0.8×

Latest half-year · H1 26 vs H1 25 results 16 Sep 26 ↗

Revenue: £23.2m
Operating profit: £2.5m
Net income: £2.5m
Cash from operations: £5.0m

Extracted automatically from the company's results announcements; check the source before relying on a figure. Not investment advice.

Key figures As reported

Income statement Balance sheet Cash flow

Annual Half-yearly

Standardised line items in £m, comparable across companies; when a later report restated a period, the later figure is shown and marked ^r (hover for the figure first reported). Italic = calculated (LTM, H2 = FY − H1); a year of other than 12 months is marked (15m). Hover a value for its source.

Latest report: H1 26 (six months to 30 Jun 26), published 16 Sep 26 · read the results ↗

Source ↗

	Unaudited 6 months ended 30 June 2026 £000	Unaudited 6 months ended 30 June 2025 Restated* £000	Audited year ended 31 December 2025 Restated* £000
Continuing operations
Revenue	23,224	18,297	34,721
Cost of sales
Depletion, depreciation and amortisation	(2,800)	(3,603)	(7,315)
Other cost of sales	(10,493)	(10,775)	(21,610)
Total cost of sales	(13,293)	(14,378)	(28,925)
Gross profit	9,931	3,919	5,796
Administrative expenses	(2,241)	(2,242)	(4,395)
Research and non-capitalised development costs	(188)	(227)	(597)
Impairment of exploration and evaluation assets	-	(26)	(26)
(Loss)/gain on derivative financial instruments	(4,957)	1,333	1,847
Other income	-	4,540	4,562
Operating profit	2,545	7,297	7,187
Finance costs	(1,912)	(3,263)	(5,217)
Change in fair value of contingent consideration	-	480	480
Profit before tax	633	4,514	2,450
Income tax	2,079	(8,429)	(9,040)
Profit/(loss) from continuing operations	2,712	(3,915)	(6,590)
Loss from discontinued operations, net of tax	(351)	(154)	(1,245)
Profit/(loss) for the period/year	2,361	(4,069)	(7,835)
Attributable to
Owners of the Parent Company	2,538	(3,922)	(7,304)
Non-controlling interest	(177)	(147)	(531)
Total attributable to	2,361	(4,069)	(7,835)
Earnings/(loss) per share attributable to equity shareholders from continuing operations: Basic earnings/(loss) per share	1.86p	(2.96p)	(5.04p)
Diluted earnings/(loss) per share	1.81p	(2.96p)	(5.04p)
Earnings/(loss) per share attributable to equity shareholders including discontinued operations: Basic earnings/(loss) per share	1.75p	(2.97p)	(5.59p)
Diluted earnings/(loss) per share	1.70p	(2.97p)	(5.59p)

Source ↗

	Unaudited at 30 June 2026 £000	Unaudited at 30 June 2025 £000	Audited at 31 December 2025 £000
ASSETS
Non-current assets
Intangible assets	4,308	7,899	7,104
Property, plant and equipment	69,861	67,402	69,577
Right-of-use assets	5,939	6,872	6,336
Restricted cash	-	4,282	4,534
Deferred tax asset	23,404	23,070	20,569
Total non-current assets	103,512	109,525	108,120
Current assets
Inventories	1,496	1,450	1,536
Trade and other receivables	5,534	4,663	4,913
Corporation tax receivable	766	-	1,284
Cash and cash equivalents	15,675	4,277	7,609
Restricted cash	4,495	-	-
Derivative financial instruments	-	1,197	703
Assets held for sale	3,156	-	-
Total current assets	31,122	11,587	16,045
Total assets	134,634	121,112	124,165
LIABILITIES
Current liabilities
Trade and other payables	(4,926)	(4,621)	(6,733)
Corporation tax payable	-	(2,569)	-
Borrowings	(4,157)	(1,158)	(3,961)
Lease liabilities	(779)	(973)	(895)
Provisions	(950)	(826)	(1,429)
Derivative financial instruments	(479)	-	-
Liabilities directly associated with assets held for sale	(879)	-	-
Total current liabilities	(12,170)	(10,147)	(13,018)
Non-current liabilities
Borrowings	(6,642)	(5,332)	(7,526)
Other payables	(166)	(69)	(97)
Lease liabilities	(5,733)	(6,337)	(6,086)
Provisions	(64,129)	(60,729)	(62,659)
Total non-current liabilities	(76,670)	(72,467)	(76,368)
Total liabilities	(88,840)	(82,614)	(89,386)
Net assets	45,794	38,498	34,779

Source ↗

	Unaudited 6 months ended 30 June 2026 £000	Unaudited 6 months ended 30 June 2025 Restated £000	Audited year ended 31 December 2025 Restated £000
Cash flows from operating activities:
Profit/(loss) for the period/year	2,361	(4,069)	(7,835)
Depletion, depreciation and amortisation	2,804	3,626	7,361
Abandonment costs/other provisions utilised or released	(402)	(508)	(605)
Share-based payment charge	27	94	248
Impairment of exploration and evaluation assets	-	26	26
Impairment of development costs	-	-	495
Impairment of goodwill	-	-	454
Change in fair value of contingent consideration	-	(480)	(480)
Unrealised loss/(gain) on derivative financial instruments	1,182	(799)	(305)
Gain on sale of property, plant and equipment	-	(4,540)	(4,540)
Finance costs	2,122	3,040	4,951
Income tax	(2,079)	8,429	8,951
Operating cash flows before working capital movements	6,015	4,819	8,721
(Increase)/decrease in trade and other receivables and other financial assets	(1,370)	1,993	2,646
Increase/(decrease) in trade and other payables	190	(2,547)	(2,162)
(Increase) in restricted cash	(22)	-	(34)
Decrease/(increase) in inventories	40	47	(39)
Cash generated from operating activities	4,853	4,312	9,132
Corporation tax received/(paid)	138	(964)	(2,848)
Net cash generated from operating activities	4,991	3,348	6,284
Cash flows from investing activities
Purchase of intangible exploration and evaluation assets	(126)	(86)	(47)
Purchase of property, plant and equipment	(3,092)	(1,956)	(5,234)
Proceeds from disposal of property, plant and equipment	-	6,390	6,390
Net cash (used in)/generated from investing activities	(3,218)	4,348	1,109
Cash flows from financing activities
Cash proceeds from issue of ordinary share capital	9,092	14	27
Share issue transaction costs	(575)	-	-
Drawdown on finance facility	-	-	4,801
Repayment of finance facility	(1,964)	(5,631)	(5,631)
Cash received from hire purchase finance	1,440	-	-
Repayment of hire purchase liabilities	(85)	-	-
Repayment of principal portion of lease liabilities	(650)	(854)	(1,299)
Repayment of interest on lease liabilities	(289)	(326)	(662)
Interest paid	(754)	(694)	(1,137)
Net cash generated from/(used in) financing activities	6,215	(7,491)	(3,901)
Net increase in cash and cash equivalents during the period/year	7,988	205	3,492
Net foreign exchange differences	78	(636)	(591)
Cash and cash equivalents at the beginning of the period/year	7,609	4,708	4,708
Cash and cash equivalents at the end of the period/year	15,675	4,277	7,609

Source ↗

	2025 £000	2024 £000
Revenue	34,721	43,651
Cost of sales
Depletion, depreciation and amortisation	(7,315)	(6,472)
Other costs of sales	(21,610)	(22,318)
Total cost of sales	(28,925)	(28,790)
Gross profit	5,796	14,861
Administrative expenses	(4,908)	(7,422)
Research and non-capitalised development costs	(735)	(1,973)
Impairment of exploration and evaluation assets	(26)	(1,854)
Impairment of development costs	(495)	(4,259)
Impairment of goodwill	(454)	-
Gain on derivative financial instruments	1,847	737
Other expense	-	(2,000)
Other income	4,562	3
Operating profit/(loss)	5,587	(1,907)
Finance costs	(4,951)	(4,805)
Change in fair value of contingent consideration	480	2,251
Profit/(loss) before tax	1,116	(4,461)
Income tax	(8,951)	(8,133)
Loss after tax	(7,835)	(12,594)
Attributable to
Owners of the Parent Company	(7,304)	(11,295)
Non-controlling interest	(531)	(1,299)
Total attributable to	(7,835)	(12,594)
Loss per share attributable to equity shareholders
Basic loss per share	(5.59p)	(8.74p)
Diluted loss per share	(5.59p)	(8.74p)

Source ↗

	2025 £000	2024 £000
ASSETS
Non - current assets
Intangible assets	7,104	7,736
Property, plant and equipment	69,577	70,657
Right-of-use assets	6,336	7,253
Restricted cash	4,534	4,282
Deferred tax asset	20,569	31,054
Total non - current assets	108,120	120,982
Current assets
Inventories	1,536	1,497
Trade and other receivables	4,913	6,381
Corporation tax receivable	1,284	-
Cash and cash equivalents	7,609	4,708
Derivative financial instruments	703	398
Total current assets	16,045	12,984
Total assets	124,165	133,966
LIABILITIES
Current liabilities
Trade and other payables	(6,733)	(6,731)
Corporation tax payable	-	(3,073)
Borrowings	(3,961)	(6,488)
Lease liabilities	(895)	(1,145)
Provisions	(1,429)	(1,335)
Total current liabilities	(13,018)	(18,772)
Non - current liabilities
Borrowings	(7,526)	(5,246)
Other payables	(97)	(440)
Lease liabilities	(6,086)	(6,830)
Provisions	(62,659)	(60,035)
Total non - current liabilities	(76,368)	(72,551)
Total liabilities	(89,386)	(91,323)
Net assets	34,779	42,643
EQUITY
Capital and reserves
Called up share capital	30,334	30,334
Share premium account	103,298	103,248
Foreign currency translation reserve	3,673	3,929
Other reserves	38,727	38,512
Accumulated deficit	(140,066)	(132,331)
Equity attributable to owners of the Company	35,966	43,692
Non-controlling interest	(1,187)	(1,049)
Total equity	34,779	42,643

Source ↗

	2025 £000	2024 £000
Cash flows from operating activities:
Profit/(loss) before tax	1,116	(4,461)
Depletion, depreciation and amortisation	7,361	6,517
Abandonment costs/other provisions utilised or released	(605)	(1,672)
Share-based payment charge	248	195
Impairment of exploration and evaluation assets	26	1,854
Impairment of development costs	495	4,259
Impairment of goodwill	454	-
Change in fair value of contingent consideration	(480)	(2,251)
Unrealised gain on oil price derivatives	(305)	(398)
Gain on sale of property, plant and equipment	(4,540)	(3)
Finance costs	4,951	4,805
Operating cash flows before working capital movements	8,721	8,845
Decrease/(increase) in trade and other receivables and other financial assets	2,646	(1,397)
(Decrease) in trade and other payables	(2,162)	(1,334)
(Increase) in restricted cash	(34)	(3,872)
(Increase)/decrease in inventories	(39)	25
Cash generated from operating activities	9,132	2,267
Corporation tax paid	(2,848)	-
Net cash generated from operating activities	6,284	2,267
Cash flows from investing activities
Purchase of intangible exploration and evaluation assets	(47)	(67)
Purchase of property, plant and equipment	(5,234)	(5,579)
Purchase of intangible development assets	-	(30)
Proceeds from disposal of property, plant and equipment	6,390	3
Net cash generated from/(used in) investing activities	1,109	(5,673)
Cash flows from financing activities
Cash proceeds from issue of ordinary share capital	27	28
Drawdown on finance facility	4,801	12,530
Repayment of finance facility	(5,631)	-
Repayment of Reserves Based Lending facility	-	(5,541)
Transaction costs related to loan refinancing	-	(610)
Repayment of principal portion of lease liabilities	(1,299)	(887)
Repayment of interest on lease liabilities	(662)	(709)
Interest paid	(1,137)	(493)
Net cash (used in)/generated from financing activities	(3,901)	4,318
Net increase in cash and cash equivalents in the year	3,492	912
Net foreign exchange differences	(591)	(59)
Cash and cash equivalents at the beginning of the year	4,708	3,855
Cash and cash equivalents at the end of the year	7,609	4,708

	LTM Jun 26	FY 25	FY 24
Revenue to operating profit
Revenue	39.6	34.7	43.7
Gross profit	11.8	5.8	14.9
Adjusted EBITDA	9.0	8.3^r	11.1
EBITDA	8.9	14.5	–
Operating profit	2.4	7.2^r	(1.9)
Share-based payments	0.2	0.2	0.2
Operating profit to net income
Finance costs	(3.9)	(5.2)^r	(4.8)
Profit before tax	(1.4)	2.5^r	(4.5)
Tax	1.5	(9.0)^r	(8.1)
Net income (owners)	(0.8)	(7.3)	(11.3)
Discontinued operations	(1.4)	(1.2)	–
Per share
EPS basic	(0.9p)	(5.6p)	(8.7p)
EPS diluted	(0.9p)	(5.6p)	(8.7p)

	H1 26	vs H1 25	H2 25	H1 25
Revenue to operating profit
Revenue	23.2	+27%	16.4	18.3
Gross profit	9.9	+153%	1.9	3.9
Adjusted EBITDA	5.6	+14%	3.4	4.9
EBITDA	5.3	−51%	3.6	10.9
Operating profit	2.5	−65%	(0.1)	7.3
Share-based payments	0.0	n/m	0.2	0.1
Operating profit to net income
Finance costs	(1.9)	−41%	(2.0)	(3.3)
Profit before tax	0.6	−86%	(2.1)	4.5
Tax	2.1	n/m	(0.6)	(8.4)
Net income (owners)	2.5	n/m	(3.4)	(3.9)
Discontinued operations	(0.4)	+128%	(1.1)	(0.2)
Per share
EPS basic	1.8p	–	(2.6p)	(3.0p)
EPS diluted	1.7p	–	(2.6p)	(3.0p)

	LTM Jun 26	FY 25	FY 24
Operating activities
Cash from operations	7.9	6.3	2.3
Interest paid	(1.2)	(1.1)	(0.5)
Tax paid	(1.7)	(2.8)	–
Investing activities
Capex (PP&E)	(6.4)	(5.2)	(5.6)
Capex (intangibles)	(0.1)	(0.0)	–
Financing activities
Lease principal paid	(1.1)	(1.3)	(0.9)
Lease interest paid	(0.6)	(0.7)	(0.7)
Shares issued	9.1	0.0	0.0

	H1 26	vs H1 25	H2 25	H1 25
Operating activities
Cash from operations	5.0	+49%	2.9	3.3
Interest paid	(0.8)	+9%	(0.4)	(0.7)
Tax paid	0.1	n/m	(1.9)	(1.0)
Investing activities
Capex (PP&E)	(3.1)	+58%	(3.3)	(2.0)
Capex (intangibles)	(0.1)	n/m	0.0	(0.1)
Financing activities
Lease principal paid	(0.7)	−24%	(0.4)	(0.9)
Lease interest paid	(0.3)	−11%	(0.3)	(0.3)
Shares issued	9.1	n/m	0.0	0.0

	30 Jun 26	31 Dec 25	31 Dec 24
Non-current assets
Goodwill	–	(0.5)	–
Other intangibles	4.3	7.1	7.7
Property, plant & equipment	69.9	69.6	70.7
Non-current assets	103.5	108.1	121.0
Current assets
Inventories	1.5	1.5	1.5
Trade receivables	5.5	4.9	6.4
Cash	15.7	7.6	4.7
Current assets	31.1	16.0	13.0
Total assets	134.6	124.2	134.0
Current liabilities
Trade payables	4.9	6.7^r	6.7
Borrowings, current	4.2	4.0^r	6.5
Lease liabilities, current	0.8	0.9^r	1.1
Current liabilities	12.2	13.0^r	18.8
Non-current liabilities
Borrowings, non-current	6.6	7.5^r	5.2
Lease liabilities, non-current	5.7	6.1^r	6.8
Non-current liabilities	76.7	76.4	72.6
Total liabilities	88.8	89.4^r	91.3
Equity
Non-controlling interests	(1.3)	(1.2)	(1.0)
Total equity	45.8	34.8	42.6
Net cash and other figures
Net cash / (debt) ex leases	4.6	(4.3)	(7.5)

	30 Jun 26	31 Dec 25	30 Jun 25	31 Dec 24
Non-current assets
Goodwill	–	(0.5)	–	–
Other intangibles	4.3	7.1	7.9	7.7
Property, plant & equipment	69.9	69.6	67.4	70.7
Non-current assets	103.5	108.1	109.5	121.0
Current assets
Inventories	1.5	1.5	1.4	1.5
Trade receivables	5.5	4.9	4.7	6.4
Cash	15.7	7.6	4.3	4.7
Current assets	31.1	16.0	11.6	13.0
Total assets	134.6	124.2	121.1	134.0
Current liabilities
Trade payables	4.9	6.7^r	4.6	6.7
Borrowings, current	4.2	4.0^r	1.2	6.5
Lease liabilities, current	0.8	0.9^r	1.0	1.1
Current liabilities	12.2	13.0^r	10.1	18.8
Non-current liabilities
Borrowings, non-current	6.6	7.5^r	5.3	5.2
Lease liabilities, non-current	5.7	6.1^r	6.3	6.8
Non-current liabilities	76.7	76.4	72.5	72.6
Total liabilities	88.8	89.4^r	82.6	91.3
Equity
Non-controlling interests	(1.3)	(1.2)	(0.8)	(1.0)
Total equity	45.8	34.8	38.5	42.6
Net cash and other figures
Net cash / (debt) ex leases	4.6	(4.3)	(2.7)	(7.5)

Read automatically from each results announcement. Check the source before relying on a figure.

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