Whitehaven Coal has reported an underlying net profit after tax of AU$227 million, down 29 per cent year over year as it navigated cyclical price softness and a stronger Australian dollar.
The miner delivered underlying earnings before interest, tax, depreciation, and amortisation (EBITDA) of AU$1.25 billion, underpinned by record production across its expanded operations in Queensland and New South Wales.
Total managed run-of-mine (ROM) coal production hit 40.3 million tonnes, a 3 per cent increase from the previous year, placing the company at the top end of its annual guidance.
Statutory NPAT reached AU$385 million, boosted by AU$158 million in net profit adjustments, including foreign exchange gains and adjustments on contingent payments to BMA.
Revenue stood at AU$5.4 billion, down 7 per cent from fiscal 2025, split between metallurgical coal and thermal coal, with an overall average achieved price of AU$202 per tonne.
Whitehaven CEO Paul Flynn highlighted the company’s operational focus amid external challenges, such as major March quarter wet weather in Queensland and fluctuating diesel prices.
“2026 was another year of strong operational performance for Whitehaven, including safety and environmental outcomes,” Flynn said.
“We continued to focus on the controllables—productivity, cost discipline, margin optimisation and cash generation.
“We delivered a robust result despite cyclical price weakness and foreign exchange headwinds.
“We recovered strongly from significant wet weather in Queensland in the March quarter and effectively managed higher diesel costs and supply uncertainty in the second half.”
Unit costs dropped to AU$132/tonne from AU$139/tonne in FY25, coming in at the bottom end of guidance. Cash generated from operations remained healthy at AU$1.1 billion.
Whitehaven declared a fully franked final dividend of 6 cents per share, bringing total 2026 shareholder returns up to AU$159 million, which includes an ongoing on-market share buy-back program.
Net debt closed at AU$1.3 billion following a US$500 million deferred acquisition payment to BMA in April.
Looking ahead to 2027, Whitehaven targets managed ROM production between 38 and 41 million tonnes.
With strengthening coking and thermal coal prices and an April 2027 end-date for BMA acquisition payments, the miner is well-positioned for solid unencumbered cash flows.
The company said its 2027 guidance reflects the group’s priorities, individual mine plans and improvement initiatives.
