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Dalrymple Bay Infrastructure (DBI) investor relations material
Dalrymple Bay Infrastructure H1 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Delivered strong financial performance in H1 2025, with revenue, EBITDA, and net profit all up year-over-year, supported by fully contracted terminal capacity and take-or-pay contracts through 2028.
Operates the world's largest metallurgical coal export facility, with 14% share of 2024 global seaborne met coal exports and 84.2Mt fully contracted capacity.
Business model is underpinned by long-term take-or-pay contracts, inflation-linked pricing, and pass-through of operating costs.
Strategic priorities include organic revenue growth, disciplined acquisitions, maintaining investment grade credit rating, and ESG initiatives.
No fatalities, serious injuries, or high potential incidents for DBI; DBT Operator reported 6 HPIs but no serious incidents.
Financial highlights
EBITDA rose 5.3% year-over-year to $143.8 million; FFO increased 13.8% to $84.1 million.
Net profit after tax for H1 2025 was $43.1 million, up from $36.8 million in H1-24.
Total revenue for H1-25 was $395.4 million, up from $366.5 million in H1-24.
TIC increased 3.6% to $3.72/tonne from July 2025; TIC revenue reached $151.1 million.
G&A expenses down 9.2% year-over-year; net finance costs reduced after USPP note repayment.
Outlook and guidance
Targeting DPS growth of 3%-7% per annum, subject to business and market conditions.
Distribution guidance for TY-25/26 is 24.5 cents per security, a 6.5% increase over TY-24/25.
Optimization initiatives and NECAP projects expected to drive further revenue and FFO growth in H2 2025 and FY26.
ADEX/8X expansion timing dependent on coal market and customer engagement, with discussions expected in H1 FY26.
Focus remains on organic revenue growth, major NECAP projects, and maintaining investment grade credit rating.
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