Profit Falls Despite Higher Dividend
New Hope Reports 63 Percent Profit Drop While Raising Dividend Payout
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Key Points
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Realised coal prices fell 10% to A$145.2 per tonne, while underlying margin declined from A$64.4 per tonne in FY2025 to A$45 per tonne in FY2026. Group FOB cash cost per sales tonne also rose 7.9% to A$88.9.
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New Hope said New Acland is targeting a 5 million-tonne annual saleable production rate; at full capacity, its front-line cash cost is expected to be comparable with Bengalla’s. Bengalla returned to a 13.4 million-tonne annualized run rate in the second half after pit-sequence realignment.
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Statutory revenue was broadly flat at approximately A$1.77 billion, while net tangible assets per security edged down to 302.3 cents.
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The A$0.30 final dividend is scheduled to be paid on 15 October 2026; the shares go ex-dividend on 21 September, with a 22 September record date. New Hope’s dividend reinvestment plan is expected to be satisfied through a new share issue without a discount.
New Hope Corporation's profit crashed 63.4% to A$161 million in fiscal 2026, hit by falling coal prices and rising costs. Yet the Australian miner raised its dividend to 40 cents per share for the year, boosted by A$564.1 million in operating cash flow and a 7.6% jump in coal production to 11.5 million tonnes Kalkine.
Realized coal prices sank 10% to A$145.2 per tonne while the company's underlying margin squeezed from A$64.4 to A$45 per tonne. Management expects relief in fiscal 2027 from New Acland's full ramp-up and recovering thermal-coal prices Investing.
Coal Prices Fall but Production Surges
New Hope's saleable coal output climbed 7.6% to 11.5 million tonnes, with coal sales reaching 11.8 million tonnes. Yet lower realized prices crushed profits. Thermal coal fetched just A$145.2 per tonne, down 10% year-over-year Kalkine. The company's cash cost per tonne rose 7.9% to A$88.9, squeezing margins across the board.
New Acland Ramp-Up and Bengalla's Recovery
New Acland is targeting 5 million tonnes of annual output at full capacity, with front-line cash costs expected to match Bengalla's efficiency. Bengalla hit a 13.4 million-tonne annualized run rate in the second half after pit-sequence fixes Kalkine. Both mines should reach peak performance in fiscal 2027, underpinning management's outlook for margin recovery.
Dividend Hike Backed by Strong Cash Generation
Despite profit collapse, New Hope declared a fully franked 30-cent final dividend, bringing the full-year ordinary payout to 40 cents per share Raskmedia. Operating cash flow of A$564.1 million funded the raise. The final dividend pays on October 15, 2026, with shares going ex-dividend on September 21 Kalkine.
EBITDA Decline Signals Pressure on Core Operations
Underlying EBITDA fell 32.8% to A$514 million as lower coal prices, higher overburden costs and increased equipment depreciation compressed margins. Statutory revenue stayed flat at roughly A$1.77 billion Kalkine. Net tangible assets per security edged down to 302.3 cents, reflecting the tighter operational environment and capital intensity of coal mining.
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