Australia · Delayed Price · Currency is AUD New Hope Corporation Earnings Call Transcripts
Fiscal Year 2026
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Operational and financial performance improved, with EBITDA up 22% and coal sales up 10% sequentially. Guidance remains at the high end, supported by strong pricing and favorable market conditions, while refinancing extended debt maturity and reduced financial risk.
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Consolidated coal production was maintained as New Acland ramped up, offsetting Bengalla's lower output. Despite a 20% drop in average sale price, strong margins and cash flows enabled continued dividends and investment. Guidance for FY26 remains on track.
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Operational performance improved sequentially, but half-year EBITDA fell 59% year-over-year due to lower coal prices. Cash balance rose on reduced CapEx, and a clean exit from Bowen Coking Coal was achieved.
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Safety and operational performance improved, with EBITDA up 16% and strong cash reserves. FY2026 guidance targets 10.2–11.5 million tons of coal, with capital savings from regulatory changes and a focus on dividends amid soft coal prices.
Fiscal Year 2025
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Saleable coal production rose 18% to 10.7 Mt, with EBITDA at $766M and net profit at $439M, despite lower coal prices. Strong cash flow enabled $347M in dividends, and organic growth continues with ramp-ups at New Acland and Maxwell mines.
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Fourth quarter results were impacted by severe weather and logistics constraints, leading to lower coal sales and realized pricing, but full-year production and EBITDA remained strong. Inventory levels are expected to normalize as logistics improve, with continued focus on cost control and shareholder returns.
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Q3 FY2025 saw strong operational performance and improved safety, but EBITDA fell 27% quarter-over-quarter due to lower coal prices. Liquidity remains robust, supporting dividends and a share buyback, while rail constraints led to revised guidance at New Acland.
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Strong first-half results featured a 35% rise in net profit and 22% EBITDA growth, driven by higher coal production and lower costs. Shareholder returns were boosted through dividends and a new buyback, while guidance remains positive amid resilient operations and market headwinds.
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Group ROM coal production rose 5% sequentially, with strong ramp-up at New Acland offsetting planned Bengalla downtime. Underlying EBITDA for the half increased 22% year-over-year, driven by higher volumes and lower costs, while guidance and production targets remain unchanged.