Yancoal Australia H1 net profit surge 56% to A$564 mln

sxcoal.com Company,  International 2019-08-22 17:21:44

Yancoal Australia reported the underlying net profit after tax (NPAT) rose 56% from the prior corresponding period to around A$564 million for the half-year ended June 30, 2019, according to its semi-annual results announcement on August 21.


This translated into an underlying basis earnings per share of 42.7 for the half year, up 49% from the same period last year.


The company's revenue totaled A$2.35 billion during the period, almost unchanged from a year earlier, according to the announcement.


Over the period, its raw coal production rose 5% to 34.4 million tonnes from 32.9 million tonnes in H1 2018. Three tier-one assets – Moolarben, Mount Thorley Warkworth (MTW) and Hunter Valley Operations (HVO) – saw their combined production rise from 27.4 million tonnes to 28.8 million tonnes.


Commercial output rose 4% year on year to 26.4 million tonnes. The three tier-one assets produced 22.2 million tonnes, a 5% increase from 21.2 million in H1 2018.


Moolarben, a joint venture 85% held by Yancoal, produced 10.9 million tonnes of raw coal in the first half, up 11% from a year earlier; its commercial coal production rose 8% to 9.5 million tonnes.


Yancoal's 82.9% held MTW produced 9.1 million and 6.1 million tonnes of raw and commercial coal during the period, up 7% and 2% respectively.


HVO, 51% controlled by Yancoal, produced 8.8 million tonnes of raw coal, down 3% year on year, and 6.6 million tonnes of commercial coal, a 3% rise.


Yancoal's operations remain concentrated in the Asia-Pacific region, with Japan, Singapore, China, South Korea and Taiwan area accounting for 72% of the group's half-year revenue figures.


As mentioned by Yancoal management, the company's results are largely driven by higher thermal and metallurgical coal volumes and prices thanks to good macroeconomic trends and viability of energy alternatives.


Investors may become concerned over the softening in demand for thermal coal across the Asia-Pacific, but the stability seen in the metallurgical coal markets has kept Yancoal's earnings from falling materially lower.


(Writing by Alex Guo  Editing by Tammy Yang)
For any questions, please contact us by inquiry@fwenergy.com or +86-351-7219322.

Share this article
Connect with us

Editors Recommendations

1 China's thermal coal traders accelerate sales at ports amid bearishness 2020-02-20

Thermal coal traders were speeding up sales at Chinese's northern transshipment ports as they were not optimistic about the near-term market after over half of coal mines have resumed to work.

2 Indonesian thermal coal loses ground from 3-mth high in China 2020-02-20

Prices of Indonesian low-calorific value thermal coal started losing ground after being kept at a three-month-plus high for seven sessions, given soured outlook that a possible fallback in Chinese coa

3 Australia 2019 coal exports grow 2.2% 2020-02-20

Australia posted a year-on-year rise of 2.2% in coal exports last year, showed the latest trade statistics. The country exported 395 million tonnes coal in 2019, with 110 million tonnes f

4 Viewpoint: only 5% construction cos resume work in North China 2020-02-19

On February 18, a Chinese steel consultant company carried out a survey on the progress of resumption among 900 construction companies in North China. It showed that among all 690 valid r

5 China's coke futures close lower 2020-02-19

China's coke futures closed lower in the daytime trading of February 19 on the Dalian Commodity Futures. The most-traded contract with May expiry closed at 1,842 yuan/t, down 0.7% from th

6 Russia Dec coal exports decline 1.53% YoY, customs data 2020-02-19

Russia posted a year-on-year decline of 1.53% in coal exports in December 2019, according to customs data, mainly dragged down by decreased buys from China. The country shipped a total 18

7 China Coal Daily Track (Feb 19) 2020-02-19

Thermal coal Production area Trucks flooded into coal mines in Shaanxi's Yulin after the city withdrew check points on roads. At least four mines increased their prices by 10-30 yuan/t on a si

8 Indonesian thermal coal holds support from rains despite China's curtailed demand 2020-02-19

Indonesian thermal coal held steady for sessions despite a marked decrease in Chinese demand, as the material remained supported by local heavy rains that have caused prolonged supply woes.

9 Thermal coal supply remains tight at N China ports despite quickened mining resumption 2020-02-19

Thermal coal shipments to China's northern transfer ports remained low although more mines resumed work in response to the government's call. The National Energy Administration said on Fe

10 China Coal Jan commercial coal output rises 7% YoY 2020-02-19

China Coal Energy Co., Ltd, a listed arm of China National Coal Group, registered a 7% year-on-year rise in commercial coal production in January, the company said in an announcement on February 18.

Most Read Articles

1 Worries creep up in China's spot thermal coal market 2020-02-14

Worries for a possible retreat crept up in China's spot thermal coal market after prices notched a four-month high, owing totapering buying interest although supply shortage continued biting.

2 MEC halts coal exports to China after border shut 2020-02-14

Mongolia Energy Corporation (MEC) said it had to suspend coal exports to China until early next month, as the government had decided to close all border crossings with China to prevent the novel coron

3 Bearishness prevails in Chinese import thermal coal market 2020-02-14

With clear increases in the recent two weeks, prices of import thermal coal cargoes have been close to the upper limit of Chinese buyers' acceptance. As buying interest is gradually fading, most marke

4 China's import thermal coal trading in a standoff amid uncertainty 2020-02-18

Trading activity entered a lull in Chinese import thermal coal market at the beginning of this week, as Chinese end buyers temporarily stoppedseeking cargoesfrom import market amid growing uncertainti

5 China's import thermal coal outlook clouded by recovering supply 2020-02-17

China's import thermal coal market outlook was clouded by quickened resumption of domestic coal production, which could dent buying demand for overseas coal while vessels from China face 14-day quaran

6 Weekly global coal market news summary (Feb 10-Feb 14) 2020-02-14

Bearishness prevails in Chinese import thermal coal market With clear increases in the recent two weeks, prices of import thermal coal cargoes have been close to the upper limit of Chinese buyer

7 China thermal coal prices firm up in early-Feb, NBS 2020-02-14

Prices of China's thermal coal strengthened in early-February. Some coal grades inched up while some remained stable compared with ten days ago, showed data from the National Bureau of Statistics (NBS

8 Coronavirus outbreak drives steel product prices down in China in early-Feb 2020-02-14

China saw its steel product prices down in the first ten days of February, as downstream demand was further delayed by the extended holiday to fight the fast-spreading coronavirus. Specif

9 Chinese thermal coal traders concerned about price drops on supply recovery 2020-02-17

Chinese thermal coal traders were concerned that prices of the fossil fuel may lose ground at northern transfer ports in the near term, with more coal mines restarting operation in key production area

10 Coal mines speeding up to reopen, virus impacts on supply abates, NEA 2020-02-17

A quick comeback of coal mines has been seen last week from suspension amid the virus outbreak, according to sources with the National Energy Administration. Impacts by restrictions against the virus

Scan to download sxcoal.com mobile APP

X