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Stanmore Resources (SMR) investor relations material
Stanmore Resources H2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved record production of 14 million tons in 2025, with sales volumes at 14.1 million tons, despite challenging market and weather conditions.
Revenue declined 21% year-over-year to $1,881.2m, driven by a significant drop in average realised coal prices, despite stable sales tonnage.
Net loss after tax was $47.2m, compared to a $191.5m profit in 2024, reflecting lower prices and a $55.8m impairment charge.
Underlying EBITDA for 2025 was $384.6m, with cost improvement initiatives partially offsetting inflation and weather impacts.
Declared a fully franked final dividend of US 8.9 cents per share, totaling $80 million.
Financial highlights
Revenue: $1,881.2m (down from $2,395.5m year-over-year).
Net loss after tax: $47.2m (2024: $191.5m profit).
Underlying EBITDA: $384.6m (2024: $700.3m).
Operating cash flows totaled $380.8m, with cash and equivalents at $211.5m at year-end.
Liquidity position approached $500 million at year-end.
Outlook and guidance
South Walker Creek production expected to ramp up in 2026, while Poitrel output normalizes and Isaac Plains reduces output as it transitions to the Isaac Downs Extension.
2026 capital program to remain broadly in line with 2025, with a small increase for deferred and improvement projects.
Environmental Impact Statement for Isaac Downs Extension on track for Q2 2026 submission.
FOB cash costs forecast to remain stable in AUD terms, with inflation and FX as headwinds.
Operations in early 2026 impacted by ex-tropical cyclone Koji, but elevated coal stockpiles and improved water management position the group for recovery.
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