Record profit and distribution to shareholders
Whitehaven Coal, Australia’s leading independent high quality coal company with five operating mines in North West NSW, has reported a net profit after tax of $405.4 million for the year ended 30 June 2017.
All key financial performance metrics improved on the previous corresponding period (pcp):
- Sales revenue of $1,773.2 million, up 52%;
- Operating EBITDA before significant items of $714.2 million, up 219%;
- Cash generated from operations of $655.3 million, up 143%;
- Net debt reduced to $311.1 million at 30 June 2017 with gearing at 9%;
- Drawable debt facility of $1.0 billion refinanced into a revolver with maturity extended to 2021;
- The Board has proposed to make a distribution to shareholders of 20 cents per share; and
- As per previous guidance unit costs increased modestly to $58/t.
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