Financial results full year 2024 – Strong operational performance, delivering on our organic growth pipeline
- Full Year Results Presentation 2024
- Annual Report 2024
- Full Year Results 2024 ASX release
- Full Year Results 2024 video
Highlights:
- 9.1Mt of saleable coal produced, an increase of 26.4 per cent (2023: 7.2Mt) supported by a strong operational performance at Bengalla Mine and the successful restart of operations at New Acland Mine.
- Underlying EBITDA result of $859.9 million (2023: $1,746.6 million), the third highest result in the company’s history.
- Net profit after tax of $475.9 million (2023: $1,087.4 million).
- Successfully raised $300 million senior unsecured convertible notes (Notes), providing increased financial flexibility to support the Company’s strategy.
- Net cash flow from operating activities of $562.0 million (2023: $1,524.8 million), and available cash of $824.5 million (2023: $750.6 million), post proceeds from the Notes.
- 2024 fully franked final dividend declared of 22.0 cents per ordinary share payable to shareholders on 24 October 2024 who are registered at 4 October 2024.
Comments attributable to New Hope Group Chief Executive Officer Rob Bishop:
- “This year, we’ve delivered on our organic growth pipeline, with the realisation of productivity benefits from the Bengalla Mine Growth Project and the restart of operations at New Acland Mine resulting in a significant increase in coal production.
- “The combination of a robust thermal coal price environment, disciplined cost control and strong operational performance contributed to the third highest earnings result in the history of our Company.
- “As a result, we are pleased to reward shareholders with a fully franked final dividend of 22.0 cents per ordinary share.
- “Looking ahead, we remain focused on the organic growth of our business via the ramp-up of New Acland Mine, sustained increased production at Bengalla, and the development of Malabar’s Maxwell Underground Mine, all of which are low-unit cost assets.
- “This growth pipeline offers significant targeted production increases, which will ultimately create additional value to return to our shareholders.”