• Solid operational performance with 19.4Mt of managed ROM production
• Resilient coal prices and strong underlying earnings of $960m EBITDA
• Maintained robust balance sheet with net debt reduced to $989m

Whitehaven Coal has reported strong results for the first half of FY25, with solid operational performance and resilient coal prices supporting healthy underlying earnings. The company achieved 19.4Mt of managed ROM production, up from 10.3Mt in H1 FY24, reflecting the contribution from the Queensland operations acquired in the previous year. Whitehaven's operations in both Queensland and New South Wales delivered in line with or better than plan. The company reported underlying EBITDA of $960 million, up from $632 million in H1 FY24, with the Queensland assets contributing $588 million and the New South Wales operations $395 million. Coal prices remained resilient, with the company achieving an average realised price of A$232 per tonne. Unit costs were at the low end of the FY25 guidance range at A$137 per tonne. Whitehaven maintained a strong balance sheet, reducing net debt to $989 million as of 31 December 2024, down from $1,278 million at the end of FY24. The company also declared a fully franked interim dividend of 9 cents per share and announced a share buy-back of up to $72 million.

Whitehaven expects to deliver in the upper half of its FY25 guidance range of 17.4 - 19.8Mt for New South Wales operations and 17.6 - 19.7Mt for Queensland operations.