Australia · Delayed Price · Currency is AUD Stanmore Resources Earnings Call Transcripts
Fiscal Year 2026
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Record production and strong cash flow were achieved in 2025 despite low coal prices and weather disruptions. Key board members were re-elected, a final dividend was declared, and strategic projects advanced. All resolutions were put to a poll, with results to be released post-meeting.
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Saleable production rebounded to 3.2 million tons after weather disruptions, with strong cash flow and liquidity supporting a reaffirmed full-year outlook. Cost guidance was raised due to higher diesel prices, but operational performance and market demand remain robust.
Fiscal Year 2025
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Record production and strong cash flow in 2025 enabled higher dividends and a stable net debt position, despite lower coal prices and inflation. Outlook for 2026 includes stable costs, continued capital discipline, and growth projects progressing through regulatory phases.
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Record Q4 operational results drove full-year saleable production to 14 million tons, with strong cash generation reducing net debt to $33 million. Recovery from weather disruptions is underway, and 2026 guidance will reflect recent impacts.
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Operational and financial performance was robust, with record production at key assets and improved cash position. Guidance was narrowed due to Isaac Plains constraints, but Poitrel's recovery offset some impact. Met coal prices remained stable, and cost guidance is sensitive to FX rates.
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H1 2025 saw resilient performance despite weather and price headwinds, with cost reductions, strong cash flow, and reaffirmed guidance. Production is weighted to H2, with Poitrel outperforming and Isaac Plains facing recovery risk. Medium-term demand outlook remains positive.
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Strong operational recovery and positive cash flow were achieved despite challenging weather and weak coal prices. Full-year production and cost guidance remain unchanged, with higher volumes and improved yields expected in the second half.
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Record production and strong financial results were achieved in 2024, with disciplined capital management and major projects completed under budget. The board proposed a director fee pool increase and addressed challenges from wet weather, royalty regimes, and market volatility. Strategic growth and sustainability initiatives were advanced.
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Q1 2025 faced severe weather and weak coal prices, but production outperformed expectations and full-year guidance was maintained. Cost and CapEx guidance were reduced, and cash flow remains positive, with market recovery hinging on Indian demand and global trade dynamics.
Fiscal Year 2024
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Record production and strong operational execution drove robust EBITDA and cash flow, despite lower coal prices. Major capital projects were completed under budget, and 2025 guidance reflects a transition to lower CapEx and steady production, with weather and market volatility as key risks.
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Exceeded 2024 production guidance with 13.8 million tons and set records across all operations. Ended the year with $509 million in liquidity and net debt of $26 million, while completing major projects ahead of schedule and under budget. Coal markets remain challenging due to high Chinese steel exports.
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Q3 saw strong production and healthy cash despite significant one-off outflows, with all assets on track for full-year guidance. Market conditions improved late in the quarter, and key expansion and refinancing milestones were achieved.
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H1 2024 saw strong coal production and resilient EBITDA despite lower prices, with a $136M NPAT and improved net cash. Major projects are on track, guidance is reaffirmed, and refinancing has secured better terms. Dividend policy is now more flexible due to enhanced cash flow certainty.
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Robust June quarter with 6.8Mt H1 production, strong cash flow, and $404M cash on hand. Guidance unchanged as core assets offset Mavis Downs closure; Eagle Downs acquisition to close soon. PCI market strength and project progress support positive outlook.