Whitehaven Coal Ltd
ASX:WHC

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Whitehaven Coal Ltd
ASX:WHC
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Price: 7.79 AUD -0.38% Market Closed
Market Cap: 6.5B AUD

Whitehaven Coal Ltd
Investor Relations

In the expansive landscapes of New South Wales, Australia, Whitehaven Coal Ltd. has carved out its position as a dominant player in the coal mining industry. Established in 1999, the company has focused its operations primarily within the rich coal seams of the Gunnedah Basin. Whitehaven Coal prides itself on being an integrated producer of high-quality thermal and metallurgical coal, which has long fueled the growth of energy and steel industries worldwide. The company operates several large-scale open-cut and underground mining operations, including its flagship Maules Creek mine, which not only drives much of the company’s output but also showcases its advanced mining technology and sustainability efforts.

Whitehaven Coal's business model is straightforward yet highly effective. The company engages in a full spectrum of activities within the coal production value chain—exploration, development, and extraction, followed by processing and logistics, ensuring their product reaches key markets in Asia and beyond, particularly Japan and South Korea. A significant portion of their revenue is generated from exporting coal, which aligns with their strategy to deliver coal solutions to areas with burgeoning energy needs. They employ state-of-the-art infrastructure and transportation networks to facilitate swift and efficient delivery to their international clientele, thus ensuring robust sales and stable revenue streams. Through strategic investments in technology and community engagement, Whitehaven Coal not only seeks operational excellence but also aims to address environmental challenges, striving to minimize impacts and foster local economic growth.

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Last Earnings Call
Fiscal Period
Q4 2024
Call Date
Jul 19, 2024
AI Summary
Q4 2024

Strong Production: Whitehaven delivered strong coal production in both New South Wales and its newly acquired Queensland assets, meeting or exceeding guidance.

Queensland Integration: The transition of Blackwater and Daunia mines went smoothly, with healthy production though some sales slipped to the September quarter due to rail constraints.

Coal Prices & Mix: Realized coal prices were AUD 271/tonne for Queensland and AUD 207/tonne for NSW; product mix was temporarily skewed by logistics but expected to normalize.

Cost Pressures: Production costs ended slightly above guidance at AUD 114/tonne, mainly due to inflation and lower Narrabri volumes; inflationary pressures persist, especially in labor and materials.

Healthy Inventory: Inventories are above normal, especially in Queensland, due to sales delays and planned maintenance preparations.

Blackwater Sell-down: The process to sell down up to 30% of Blackwater is progressing well, with hopes to conclude by year-end.

Capital Allocation: CapEx remains disciplined, trending below guidance; major capital spending decisions for Narrabri Stage 3 and Vickery are under reassessment.

Guidance: ROM production and coal sales were within guidance; full FY25 guidance will be issued with August results.

Key Financials
Managed ROM Coal Production (Quarter)
9.7 million tonnes
Managed ROM Coal Production (FY24)
24.5 million tonnes
Queensland ROM Coal Production (Quarter)
4.8 million tonnes
Queensland Coal Sales (Quarter)
3.2 million tonnes
Queensland Average Coal Price (Quarter)
AUD 271/tonne
New South Wales ROM Coal Production (Quarter)
4.9 million tonnes
New South Wales Saleable Coal Production (Quarter)
4.3 million tonnes
New South Wales ROM Coal Production (FY24)
19.7 million tonnes
New South Wales Equity Coal Sales (Quarter)
3.3 million tonnes
New South Wales Equity Coal Sales (FY24)
13.2 million tonnes
New South Wales Average Coal Price (Quarter)
AUD 207/tonne
New South Wales Average Coal Price (FY24)
AUD 217/tonne
Equity Coal Sales (Quarter)
6.5 million tonnes
Equity Coal Sales (FY24)
16.4 million tonnes
Net Debt (as of June 30)
AUD 1.3 billion
Production Cost (Quarter)
AUD 114/tonne
Capital Expenditure (FY24, unaudited)
AUD 380 million
TRIFR (New South Wales)
3.3
TRIFR (Queensland)
6.6
Earnings Call Recording
Other Earnings Calls

Management

Mr. Paul J. Flynn B.Com., BComm, F.C.A.
MD, CEO & Director
No Bio Available
Mr. Kevin Ball B.Com., BComm, C.A.
Chief Financial Officer
No Bio Available
Mr. Ian Humphris B.E.
Chief Operating Officer
No Bio Available
Mr. Timothy Burt B.Ec., L.L.B., L.L.M., LLB (Hons)
General Counsel & Company Secretary
No Bio Available
Mr. Jason Nunn B.E.
Executive General Manager of Marketing & Logistics
No Bio Available
Mr. Daniel Cram B.Com.
Executive General Manager of People & Culture
No Bio Available

Contacts

Address
NEW SOUTH WALES
Sydney
L 28 259 George St
Contacts