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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Operational and financial performance remained strong, with higher production, improved safety, and robust cash flow. EBITDA was impacted by lower coal prices, but cost control and strategic asset growth support positive outlook. Guidance and dividend policy remain unchanged.