Operator
Thank you for standing by, and welcome to the Stanmore Resources Limited 2025 Full Year Financial Results Investor Briefing. [Operator Instructions]
I would now like to hand the conference over to Mr. Marcelo Matos, Executive Director and CEO. Please go ahead.
Marcelo Matos
CEO & Executive Director
Good morning, everyone. Thank you for joining today’s call as we present our full year results for 2025. I’m joined here once again by our CFO, Shane Young.
Today’s result marks our fourth set of full year results since our transformational acquisition of BMC back in 2022 and comes in what has been the most challenging operating conditions and market environment over that period. Nonetheless, I’m pleased to say that our well-capitalized business has demonstrated remarkable resilience as highlighted by a few of the opening snapshots on Slide #3.
Safety and operational performance has been pre-reported in our recent quarterly update, but I’m very proud of our site teams to have safely delivered a record production year of 14 million tonnes. This translated into a strong sales volume performance of 14.1 million tonnes, which supported lower FOB cash costs year-on-year of USD 87.8 per tonne. This outcome is well within our revised guidance range, which was lowered early in the year.
Underlying EBITDA of USD 385 million was generated over 2025 supporting robust cash flow generation to maintain a modest net debt position of USD 33 million at year-end.
This strong balance sheet position, together
