Coal producer New Hope Corporation (ASX: NHC) shares were up 3.4% at Tuesday's open, despite reporting a decline in net profit across the 2024-2025 fiscal year, amid a global drop in coal prices.
Net profit after tax dropped to A$439.4 million, compared with $475.9 million the previous year. Saleable coal production was 10.7 megatonnes, rising 18.1%.
“Despite navigating logistics constraints, periods of wet weather and a lower coal pricing environment, we've delivered a strong performance for the 2025 financial year,” said New Hope CEO Rob Bishop.
“The continued execution of our organic growth plans has provided another considerable increase in saleable coal production, which has underpinned the reduction in our unit costs.”
The company’s underlying EBITDA was $765.8 million, dropping from $475.9 million one year ago.
Net cash flow from operating activities was $570.8 million, up from $562.0 million year-over-year. Free on Board cash costs were $82.40 per tonne, down 8.4%.
Its Bengalla and New Acland mines both significantly increased their salable coal production, with Bengalla’s output increasing from 7.8 megatonnes to 7.9 megatonnes.
The company’s Bridgeport Energy subsidiary held 4.1 million barrels of oil equivalent in 2P reserves and 4.9 million barrels in 2C resources at the end of the fiscal year.
New Hope Corporation declared a fully franked final dividend of $0.15 per share.
Global coal prices have slumped since February, reaching a 2025 low of US$93.70 per tonne in April. Coking coal volumes also dropped by 6% year-over-year in the first half of 2025.
New Hope Corporation’s (ASX: NHC) share price closed at A$4.36 on Monday, and has fallen by 12.1% across 2025 to date. Its market capitalisation is $3.67 billion.
