• Solid production and sales across operations, with 87% increase in managed ROM coal production
• Diversification into metallurgical coal with 64% of sales from metallurgical coal
• Strong cash generation, with $922m in cash from operations
• Declared fully franked interim dividend of 9 cents per share

Whitehaven Coal Limited reported its results for the half year ended 31 December 2024, with the acquisition of the Daunia and Blackwater mines in Queensland transforming the company into a major metallurgical coal producer. Total revenues for the half year were 64% metallurgical coal sales, up from 9% in the prior corresponding period. Managed ROM coal production increased by 87% to 19.4Mt, with sales of produced coal up 88% to 15.8Mt. The average coal price achieved was A$232/t, up 5% from the prior corresponding period. Underlying EBITDA was $960m, and underlying NPAT was $328m, before significant items. The company generated $922m in cash from operations, reflecting strong conversion of earnings into cash. During the half year, Whitehaven entered into binding agreements to sell a 30% joint venture interest in the Blackwater coal mine to Nippon Steel Corporation and JFE Steel Corporation for an aggregate cash consideration of US$1.08 billion. The transaction is expected to complete on 31 March 2025, further strengthening Whitehaven's balance sheet and providing financial flexibility. The company declared a fully franked interim dividend of 9 cents per share, to be paid on 14 March 2025.

Whitehaven expects to maintain its annual franked dividends within the targeted payout ratio range of 20-50% of NSW NPAT.