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Whitehaven Coal Limited (WHC) investor relations material
Whitehaven Coal Limited AGM 2025 summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Opening remarks and agenda
Meeting opened with a Welcome to Country, acknowledgment of traditional landowners, and introductions of board members and auditors.
Chairman and CEO addressed the meeting, highlighting strategic transformation and operational achievements over the past year.
Voting on resolutions was conducted manually due to a Microsoft outage, with the Chairman holding open proxy votes and intending to vote in favor of all resolutions.
Financial performance review
Revenue for FY 2025 reached $5.8 billion, with 64% from metallurgical coal and 36% from thermal coal; $3.5 billion from QLD and $2.2 billion from NSW.
Underlying EBITDA was $1.4 billion, and statutory NPAT was $649 million after non-recurring items.
Managed ROM production rose 60% to 39.1 million tonnes, and equity sales increased 61% to 26.5 million tonnes.
Unit cost of coal was $139/tonne, outperforming guidance, with $100 million in annualized cost reductions in Queensland.
Net debt at June 2025 was $0.6 billion, with $1.2 billion cash on hand; major acquisition payments were covered by asset sales.
Board and executive committee updates
Brendan Pearson joined the board in August 2025, bringing global trade and mining experience.
Ray Sage retired after 12 years of service, with succession planning for the Chairman role flagged for the next 12–18 months.
Nicole Brook and Tony Mason stood for re-election, highlighting their operational and governance experience.
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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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