• Group saleable coal production up 32.9% to 5.4Mt
• Group FOR cash costs down 23.5% to $55.5/t
• Net profit after tax up 35% to $340.3 million

New Hope Corporation Limited (ASX:NHC) has reported a strong performance for the first half of the 2025 financial year, with net profit after tax increasing by 35% to $340.3 million compared to the same period in FY24. Group saleable coal production increased by 32.9% to 5.4Mt, reflecting the continued execution of the company's organic growth plans. Group Free on Rail (FOR) cash costs decreased by 23.5% to $55.5/t, driven by the increased coal production and disciplined cost control. The company also reported underlying EBITDA of $517.3 million, up from $424.8 million in the prior corresponding period. Net cash flow from operating activities was $316.9 million, and available cash was $805.0 million as of 31 July 2024. During the half, New Hope increased its equity interest in Malabar Resources Limited to 22.97%, further growing its exposure to high-quality metallurgical coal. As part of its capital management program, the company is announcing an on-market buy-back of up to $100 million, along with a fully franked interim dividend of 19.0 cents per ordinary share.

New Hope Corporation is tracking well in terms of its guidance ranges, with a focus on ramping up production at the New Acland Mine and sustaining increased production at the Bengalla Mine, while continuing its disciplined approach to cost control.

The company expects ongoing cash generation from its operations as it executes its targeted coal production increases, which provides important energy security to its customers and the regions they service. The company will continue to assess various options to return capital to shareholders, with the exact nature, amount, and timing of any future capital returns dependent on market conditions and capital outlook at the relevant time.