New Hope (NHC) Q3 2025 TU earnings summary

Executive summary

• Achieved solid operational and financial performance in Q3 FY2025 despite market volatility, with improved safety metrics and continued focus on cost control.

• Underlying EBITDA for the quarter was AUD 155.2 million, down 27% sequentially due to lower realised coal prices.

• Group saleable coal production was 2.8Mt, stable compared to the previous quarter.

• Safety improved, with TRIFR at 3.65 (down from 4.08) and AIFR at 22.62 (down from 34.16) on a twelve-month average.

• Revised FY25 guidance for New Acland Mine reflects ongoing rail performance and availability challenges.

Financial highlights

• Average realised coal price (excluding domestic sales) was AUD 148/ton, a 7% decrease quarter-over-quarter.

• Group prime waste movement increased 10.1% to 16.3 million BCM, reflecting strong mining performance.

• Bengalla Mine achieved an FOB cash cost of AUD 75/sales ton, a 2% improvement.

• Finished the quarter with AUD 659 million in available cash after paying a fully franked interim dividend of AUD 0.19/share (AUD 161 million total).

• Available cash balance at 30 April 2025 was AUD 659.3 million, including AUD 287.6 million in cash and AUD 371.7 million in fixed income investments.

Outlook and guidance

• Revised New Acland Mine's FY2025 physical volumes downward due to rail capacity constraints and stockpile limits.

• Expect to ramp up New Acland to 5 million tons product as rail logistics improve.

• Most coal sales for the next six months are locked in via term contracts pegged to indices, with about 70% of volume secured four to six months out.

• Group guidance: ROM coal production 15,930–17,450kt, saleable coal 10,580–11,570kt, coal sales 10,410–11,450kt.

• Bengalla Mine guidance unchanged; on track for 10.1–10.9Mt saleable coal production and AUD 71–79/t FOB cash cost.