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Whitehaven Coal (WHC) investor relations material
Whitehaven Coal AGM 2026 summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Financial performance review
FY26 revenue $5.4b: 57% metallurgical and 43% thermal coal; $2.9b from QLD and $2.4b from NSW.
Underlying EBITDA $1.3b, including $677m from QLD and $596m from NSW; underlying NPAT $227m before non-recurring items and statutory NPAT $385m.
Cash generated from operations was $1.1b. Managed ROM production was 40.3Mt, managed produced-coal sales 32.7Mt and equity sales 26.0Mt in FY26.
Unit cost of coal fell to $132/t from $139/t in FY25; achieved price was $202/t, down 6% from FY25 due to softer market dynamics and adverse FX.
Total shareholder returns were 41% for the 12 months to 30 June 2026 and 448% over five years; rankings were #17 and top five, respectively, among ASX 100 companies.
Dividend announcements
FY26 full-year dividend was 10.0 cents per share, fully franked, comprising a 6.0-cent final dividend and 4.0-cent interim dividend.
FY26 capital returns totaled $159m, split evenly between fully franked dividends and share buy-backs, representing a 70% payout ratio.
Strategic initiatives and plans
Capital framework targets shareholder returns of 40–60% of underlying Group NPAT; dividends and buy-backs are expected to be broadly balanced by value, with dividends expected to be fully franked.
Framework prioritizes operating maintenance, life extensions, productivity, HSE and technology investment; surplus capital is allocated to growth when returns meet minimum IRR hurdles.
FY27 guidance: managed ROM production 38.0–41.0Mt, managed sales 30.4–33.0Mt, equity sales 23.9–26.0Mt, cost of coal $132–147/t and capex $390–490m.
FY27 focus areas include continuous safety and environmental improvement, cost discipline, stronger reliability, productivity gains, consistent production and disciplined capital allocation.
FY26 delivered $65m in annualized operational savings, following $100m from QLD in FY25; May 2026 refinancing is expected to reduce interest costs by $50–55m p.a.
- Production and prices strengthened; port delays deferred sales into Q2, with guidance unchanged.WHC
Q1 2027 - Record production, robust cost control, and strong shareholder returns despite market headwinds.WHC
H2 2026 - FY26 production and sales hit guidance highs, with strong cost control and positive market outlook.WHC
Q4 2026 TU - Strong coal sales and pricing offset lower production; cost and debt metrics improved.WHC
Q3 2026 TU - Production rose but earnings fell on lower prices; guidance and capital returns remain strong.WHC
H1 2026 - Strong FY24 results, strategic growth, and all resolutions passed amid cost and transition risks.WHC
AGM 2024 - Queensland outperformed, costs trended lower, and Blackwater JV and Narrabri 3 advanced.WHC
Q1 2025 TU - Strong quarter with resilient production, cost control, and improved net cash position.WHC
Q3 2025 TU - Strong Q2 FY25 production, record sales, and lower costs position for upper-end FY25 guidance.WHC
Q2 2025 TU
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Frequently asked questions
Thermal and Metallurgical Coal
Whitehaven Coal is an Australian coal mining company, primarily engaged in the exploration, development, production, and sale of thermal and metallurgical coal. Whitehaven Coal operates a portfolio of open-cut and underground mines in the New South Wales Gunnedah Basin, one of Australia's major coal-producing regions. The company is primarily engaged in open-cut mining but also operates one large underground mine. Whitehaven Coal is headquartered in Sydney, Australia, and is listed on the Australian Securities Exchange.
From Zero to Five Mines
Founded in February 1999, Whitehaven Coal commenced mining operations in an open-cut mine in the Gunnedah Basin in September 2000. Expanding its footprint, the company launched additional mines at Werris Creek in 2005 and Tarrawonga in 2006. In the year following the opening of the Tarrawonga mine, the company went public on the ASX. The company currently operates five different mines in Australia, as well as its trains to the Port of Newcastle. Today, the company is among the biggest mining companies in Australia, but still far behind the true behemoths of the country such as BHP, Rio Tinto, and similar names.
Experts in Coal
The company is a prominent player in the coal mining industry, primarily focused on extracting and producing thermal and metallurgical coal. Thermal coal, also known as steaming coal, is primarily used for generating electricity in power plants, playing a critical role in energy production, especially in developing economies. Metallurgical coal, on the other hand, is a key ingredient in steel production, vital for various industries from construction to manufacturing. Whitehaven's operations are concentrated in the Gunnedah Basin in New South Wales, Australia, a region rich in high-quality coal.
Exporting to Asia
Whitehaven Coal predominantly sells its thermal and metallurgical coal to the Asian market, a region with robust demand driven by its significant industrial and energy requirements. Key buyers include countries like Japan, Korea, Taiwan, China, and India, which use imported coal for electricity generation and steel production.
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