Yancoal sees game-changing $4.85b revenue

Company News

by Rachael Jones

Yancoal, (ASX:YAL) Australia’s largest pure-play coal producer, announced a record profit after tax of $852 million up from last year's $229 million for the year ended 31 December 2018.

These figures were boosted by robust prices for its thermal and metallurgical coal.

Net profit before one-off items rose to $868 million for the year ended December, from $211 million in the previous year.

Revenue for the period rose 86 percent to $4.85 billion.

Total operating EBITDA is $2,180 million, up $1,192 million on the year prior.

Yancoal’s financial turnaround was driven by record production at a time of sustained pricing strength across global coal markets.

Shares in Yancoal, (ASX:YAL) closed 2.24 per cent higher at $3.20 yesterday.

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.