New Hope (NHC) H2 2025 earnings summary

Executive summary

• Achieved significant increases in coal production and sales year-over-year, with saleable coal up 18% to 10.7 Mt and coal sales up 21% to 10.5 Mt.

• Maintained a robust safety record, with TRIFA/TRIFR down 35% to 3.22.

• Navigated wet weather and logistics constraints while supporting organic growth and shareholder returns.

Financial highlights

• Underlying EBITDA reached $766M (down 11%); statutory net profit after tax was $439M (down 8%), both impacted by lower realized coal prices.

• Operating cash flow was $571M, up 2% year-over-year.

• Average sales price (including hedging) was $161/ton, with an underlying margin of $64/ton, both down from prior year.

• Fully franked final dividend of $0.15/share declared; total dividends for FY25 were $0.41/share.

• $347M returned to shareholders via dividends, representing a 12% gross dividend yield.

Outlook and guidance

• Focus remains on organic growth, ramping up New Acland and Maxwell Underground mines, and sustaining Bengalla production.

• FY26 guidance: ROM coal production 15.9–17.5 Mt, saleable coal 10.6–11.6 Mt, coal sales 10.4–11.5 Mt.

• Industry outlook remains strong, with potential supply shortfall and attractive pricing expected due to underinvestment and asset aging.