New Hope (NHC) H2 2026 earnings summary

Executive summary

• Achieved strong operational performance in FY 2026, with saleable coal production up 7.6% to 11.5Mt and coal sales up 11.8% to 11.8Mt, both exceeding guidance.

• Safety focus led to a 38% reduction in high potential event frequency rate, though TRIFR increased by 21%.

• Net profit after tax declined 63.4% year-over-year to $161M, with underlying EBITDA down 32.8% to $514M.

• Fully franked final dividend of 30c per share declared, with total shareholder return at 32.7% for the year.

Financial highlights

• Revenue reached AUD 1.8 billion, underlying EBITDA was AUD 514 million, and statutory NPAT was AUD 161 million for FY 2026.

• Realised price (including hedging) fell 10% to AUD 145.2/t, and underlying margin dropped to AUD 45/t (~30%).

• Group FOB cash costs rose 7.9% to $88.9/t due to higher overburden movement and pit re-sequencing.

• Returned AUD 206 million to shareholders via dividends; invested AUD 161 million in capital expenditure.

• Earnings per share decreased to 19.1c from 52.0c in the prior year.

Outlook and guidance

• FY 2027 saleable coal production expected around 12.7Mt (excluding Malabar), with New Acland ramping up to 4Mt and targeting 5Mt within 18 months.

• Industry outlook remains strong due to global power demand, potential supply shortfall, and underinvestment in new projects.

• Coal prices expected to remain around AUD 150/t or higher, supporting continued strong cash generation and shareholder returns.

• FY27 and FY28 production targets anticipate continued growth, with Bengalla and New Acland ramping up and Maxwell Mine longwall commissioned.

• Conservative production outlook for New Acland due to rail constraints, but confident in reaching 5Mt.