Geo Energy Resources (RE4) H2 2024 earnings summary

Executive summary

• FY2024 net profit was US$37.3 million amid lower coal prices and adverse weather; total coal sales reached 7.9 million tonnes.

• Final dividend of 0.4 Singapore cents per share brings FY2024 dividends to 1.0 Singapore cent per share.

Financial highlights

• FY2024 revenue was US$401.9 million, versus US$489.0 million in FY2023; coal sales were 7.9 million tonnes versus 8.4 million tonnes.

• Cash profit was US$82.2 million, with a 20.5% margin, versus US$103.0 million and 21.1% in FY2023.

Outlook and guidance

• FY2025 coal sales target is 10.5–11.5 million tonnes; since the start of FY2025, SDJ and TBR delivered ~2 million tonnes and TRA delivered 0.4 million tonnes.

• Integrated Infrastructure completion is targeted for H1 2026; expected benefits include transport savings over US$10 per tonne and TRA mine capacity up to 25 million tonnes annually.