Bowen Coking Coal (BCB) Q1 2026 TU earnings summary

Executive summary

• Transitioned Burton Complex to a hybrid owner-operator model in July 2025, improving productivity and reducing costs.

• Achieved ROM coal production of 749Kt and saleable coal production of 423Kt for the quarter.

• Total coal sales reached 433Kt, with a 2.3% increase over the prior quarter.

• Operations continued despite the appointment of Voluntary Administrators and Receivers, with a focus on low-cost production.

Financial highlights

• Total revenue for the quarter was $75.8 million, down 3% from the previous quarter due to sales mix.

• Operating cash flows of $14.2 million were generated.

• Cash and cash equivalents at quarter-end were $56.4 million, including $19.6 million in restricted cash.

• September quarter unit costs (FOB) were $128.6/t, 33% lower year-over-year and 6% lower sequentially.

• Capital expenditure for the quarter was $1.2 million.

Outlook and guidance

• December quarter operations to continue under the low-cost, low strip ratio plan, targeting ~740Kt ROM coal mined.

• Focus remains on maximizing margins and cash generation amid expectations of near-term coal market improvement.