Bathurst Resources (BRL) Q4 2025 earnings summary

Executive summary

• FY25 unaudited consolidated EBITDA reached $44m, slightly below guidance due to unplanned maintenance and lower export revenue in the final quarter.

• Strong cash position at $178m, up $13m in the last quarter, supported by a successful capital raise.

• Domestic segments delivered positive results, offsetting export segment pressures from lower prices and operational disruptions.

• No lost time injuries recorded for the quarter; focus on emergency preparedness and stakeholder engagement.

Financial highlights

• FY25 consolidated EBITDA was $44m, missing the lower end of guidance by 2%.

• Consolidated cash including restricted deposits totaled $178m at June 30, 2025.

• Export coal sales revenue for FY25 was $251.9m; North Island Domestic $97.4m; South Island Domestic $41.6m.

• FY25 YTD EBITDA decreased from FY24 due to reduced export pricing and sales volumes.

Outlook and guidance

• FY26 consolidated EBITDA guidance set at $35m–$45m, reflecting continued export price pressure.

• Export segment earnings expected to decrease due to lower benchmark prices, partially offset by higher sales volumes.

• North Island Domestic earnings forecast to increase with higher sales and reduced costs; South Island Domestic earnings to decrease as mine nears end of life.

• Long-term demand for premium coking coal expected to rise as new steel plants come online, especially in India.