AWE (AWE) will continue to pursue projects locally and in Indonesia and New Zealand but warned of commodity price risk after swinging to a full-year profit.
The group's profit attributable to members was $20 million in fiscal 2013, compared with a net loss of $66.5 million the prior year.
However, underlying profit came in at $17.1 million for the full year, behind consensus forecasts for around $28.2 million.
Revenue rose 1% to $301.8 million, compared with $298 million in the previous corresponding period.
The group declined to pay a dividend.
AWE's share price fell 2.2% to $1.32 at 1043 AEST.