The Whitehaven Coal Ltd (ASX: WHC) share price is in focus after the ASX-listed miner posted an underlying NPAT of $319 million for FY25 and revenue surged 53% to $5.8 billion. Underlying EBITDA stayed robust at $1.4 billion despite a softer second half.
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What did Whitehaven Coal report?
- Revenue rose 53% to $5.8 billion
- Underlying EBITDA held steady at $1.4 billion
- Underlying NPAT of $319 million, down 57% year-on-year
- Statutory NPAT reached $649 million, up 83% from FY24
- Final fully franked dividend of 6.0 cents per share declared
- Net debt fell to $634 million at 30 June 2025
What else happened in FY25?
Whitehaven successfully integrated its new Queensland operations at Daunia and Blackwater, contributing $0.9 billion of EBITDA. Managed production jumped 60% to 39.1 million tonnes, at the upper end of guidance, with 64% of sales coming from metallurgical coal.
The company maintained strong operational discipline, removing $100 million in annualised costs from its Queensland business by year-end. Whitehaven also completed a strategic sell-down of 30% of Blackwater, strengthening its balance sheet and providing cash reserves to cover upcoming acquisition payments.
What did Whitehaven Coal management say?
Commenting on the result, CEO & Managing Director Paul Flynn said:
FY25 marked our first full year of owning the Queensland operations at Daunia and Blackwater, and it was a year of strong execution. The sites were successfully integrated, with production, sales, and costs meeting or exceeding guidance… We are well placed to grow shareholder returns as coal prices improve.
What's next for Whitehaven Coal?
Whitehaven is aiming to build on recent cost savings with an additional $60–80 million in targeted annual savings by the end of FY26. Updated guidance forecasts managed ROM coal production between 37.0 and 41.0 million tonnes and unit costs (excluding royalties) of $130–145 per tonne.
The company has refreshed its capital allocation framework, targeting a payout ratio of 40–60% of underlying NPAT through a mix of dividends and buy-backs. The revised Narrabri Stage 3 capex is now forecast at $260–300 million, significantly less than earlier estimates.
Whitehaven Coal share price snapshot
Whitehaven Coal shares have trailed the market over the past 12 months, declining 11% compared to a 11% rise for the S&P/ASX 200 Index (ASX: XJO).
