Return to profit, record production, debt reduced and positive outlook
FINANCIAL HIGHLIGHTS
Whitehaven reported a net profit after tax of $20.5 million for the financial year ended 30 June 2016, a strong turnaround from the prior year loss of $342.7 million after significant items
All key performance metrics improved markedly on the prior year:
- Sales revenue rose 53% to $1,164.4 million;
- Operating EBITDA rose 72% to $224.1 million from an increase in operating margins;
- Cash generated from operations increased 76% to $269.3 million;
- Unit costs fell again to average $56/t for the year;
- Net debt was reduced by $76.7 million to $859.1 million with gearing down to 23%; and
- Subsequent to year end the Senior debt was further reduced by $35 million.
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