Bowen Coking Coal (BCB) Q3 2025 earnings summary

Executive summary

• Achieved record quarterly operating cashflows of $15.4M and second highest coal sales volume (447Kt) at Burton Complex, despite significant wet weather and logistical disruptions.

• ROM coal production was 619Kt, with saleable coal production of 439Kt; CHPP availability at 94% and utilisation at 81%.

• Operational recovery plans are on track, with Plumtree North development scheduled for completion in June 2025.

• Safety TRIFR increased to 5.9 from 4.4 over the previous quarter.

Financial highlights

• March YTD 2025 consolidated revenues were $289.4M, down 21% year-over-year due to lower coal prices and sales volumes.

• March quarter unit costs (FOB) were $133.5/t; YTD unit costs $150.7/t (US$98.0/t), 23% lower than prior year.

• Average realised coal price for the quarter was A$178.0/t (US$111.6/t); YTD average A$199.8/t.

• Capital expenditure YTD was $47.7M, down 46% year-over-year, mainly for Plumtree North box-cut.

• Cash on hand at 31 March 2025 was $56.6M (including $15.4M restricted cash).

Outlook and guidance

• FY2025 ROM coal mined and coal sales expected at the high end of guidance; unit costs at the low end.

• Capex expected to remain within guidance, with Plumtree North box-cut completion targeted for June 2025.

• Operational recovery plans in place to offset weather impacts and meet full-year targets.