Return to Profit, Record Production
FINANCIAL PERFORMANCE
Whitehaven has reported a net profit after tax of $7.8 million for the half year ended 31 December 2015.
The result was achieved in the face of difficult market conditions.
All key financial performance metrics improved on the previous corresponding period (pcp):
- Sales revenue rose 54% to $574.3 million;
- Operating EBITDA rose 104% to $106.4 million on the back of a 40% increase in operating margin;
- Operating cash flow increased 421% to $118.3 million;
- Net debt was lower at $924.9 million with gearing down slightly to 24%; and
- Unit costs fell to $58/t down 8% on pcp. There were no significant items in the result.
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