New Hope (NHC) H1 2026 earnings summary

Executive summary

• Underlying EBITDA for the half year ended 31 January 2026 was $214.8 million, down 58.5% year-over-year due to lower realised coal prices and higher operating costs.

• Net profit after tax was $54.3 million, an 84.0% decrease from the prior period.

• Saleable coal production increased slightly to 5.5Mt, supported by ramp-up at New Acland Mine, offsetting lower volumes at Bengalla Mine.

• Fully franked interim dividend of 10.0 cents per share declared, with a final dividend of 15.0 cents per share paid during the period.

• Operational resilience and cash flows enabled continued shareholder returns and reinvestment.

Financial highlights

• Net cash from operating activities was $185.0 million, down from $316.9 million year-over-year.

• Saleable coal production was 5.5Mt, up 0.4% year-over-year; coal sales reached 5.6Mt, a 2.9% increase.

• Realised price per tonne (including hedging) was $139.4, a 22.7% decrease year-over-year.

• Group Free on Rail cash costs increased to $60.6/t from $55.5/t, and Free-on-Board cash costs rose to $87.6/t.

• Basic earnings per share dropped to 6.4 cents from 40.3 cents in the prior period.

Outlook and guidance

• Bengalla Mine is expected to return to a 13.4Mtpa ROM coal production rate in the second half of FY26.

• New Acland Mine will continue ramping up, with mining at Manning Vale West pit starting in late 2026.

• Maxwell Mine is ramping up to ~6Mtpa, with increased equity holding to 25.97%.

• FY26 guidance for saleable coal production is 10.2–11.5Mt, unchanged from previous guidance.

• Focus remains on resilience, low-cost production, organic growth, and disciplined capital management.