The New Hope Corporation Ltd (ASX: NHC) share price is in focus after the company lifted quarterly saleable coal production by 7.1% and reported a 15.5% increase in underlying EBITDA to $107.9 million.
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What did New Hope Corporation report?
- Saleable coal production rose 7.1% to 2.7 million tonnes for the quarter
- Underlying EBITDA up 15.5% quarter-on-quarter, reaching $107.9 million
- Coal sales grew 11.6% to 2.68 million tonnes
- Average realised sales price strengthened to $136.6 per tonne, up 3.4%
- Fully franked final FY25 dividend of 15 cents per share ($126.4 million) paid
- Available cash balance stood at $544.3 million post-dividend
What else do investors need to know?
During the quarter, New Hope benefited from favourable weather and improved logistics, which supported higher prime waste movement and stronger output at Bengalla Mine. Notably, Bengalla's saleable coal production jumped almost 24% quarter-on-quarter as port and rail congestion eased, although New Acland Mine production dropped due to a focus on prime waste movement.
The company finalised the sale of Bridgeport Energy, marking its exit from oil and gas. New Hope also increased its stake in Malabar Resources to 25.97%, investing $36.1 million to bolster its interests in high-quality coal assets.
What's next for New Hope Corporation?
For FY26, New Hope is guiding for saleable coal production between 10.2 and 11.5 million tonnes, with both Bengalla and New Acland Mines expected to contribute more as operations ramp up. The company highlighted robust capital management, with a continuing on-market buy-back and a new Dividend Reinvestment Plan for eligible shareholders.
Management indicated Bengalla is on track to return to its targeted production run-rate in the second half of FY26. At New Acland, mining at Manning Vale West is scheduled to commence in 2027, while ongoing capital works and local stakeholder collaboration remain a focus.
New Hope Corporation share price snapshot
The New Hope Corporation share price has declined 13% over the past 12 months, underperforming the S&P/ASX 200 Index (ASX: XJO) which has risen 4% over the same period.
