New Hope (NHC) Q4 2025 TU earnings summary

Executive summary

• Group saleable coal production reached 10.7Mt for the year, up 18% year-over-year and within guidance, driven by strong performance at New Acland Mine.

• Underlying EBITDA for the year was AUD 766 million, the fourth highest in company history, with quarterly EBITDA at AUD 93 million, down 40% sequentially due to lower Bengalla sales from logistics and weather impacts.

• Cash generated from operations totaled AUD 571 million for the year, with available cash of AUD 707 million at year-end.

• Safety improved, with a 12-month moving average TRIFR of 3.22, down from 3.65 last quarter.

• Business maintained low-cost operations and strong production growth despite logistics and pricing challenges.

Financial highlights

• Average realised sales price for the quarter was AUD 131.3/t, down 11% sequentially due to lower API-5 pricing and higher high-ash sales.

• Bengalla Mine's FY25 FOB cash cost (ex-royalties) was AUD 76.5/t, a 1.7% reduction year-over-year and within guidance.

• Group realised US$ pricing for the quarter was $85.3/t, down 8% sequentially and 16% year-over-year.

• Operating cash flows for the year totaled AUD 571 million, with available cash at year-end of AUD 707 million.

• Group saleable coal production for the year was 10.7 million tonnes, up 18% year-over-year and within guidance.

Outlook and guidance

• Confident that logistics constraints will improve, allowing inventory levels to normalize and coal to move offsite.

• Expectation to catch up on production in coming months as logistics return to normal.

• Mining at Manning Vale West Pit at New Acland targeted for second half of 2026, with infrastructure work underway.

• Majority of production for the next six months is already sold, supporting forward sales.

• FY25 consolidated physical volumes were within guidance despite weather and logistics impacts.