In 2018 Yancoal listed on The Stock Exchange of Hong Kong Ltd and achieved a record profit after tax of A$852 million (FY2017: A$229 million) from revenue A$4,850 million.
2018 FULL YEAR Results HIGHLIGHTS
Record production at a time of sustained pricing strength across global coal markets drove Yancoal’s financial turnaround, achieving a record profit after tax of A$852 million (2017: A$229 million) from revenue of A$4,850 million (2017: A$2,601 million) for the year ended 31 December 2018.
Yancoal achieved a total operating EBITDA of A$2,180 million, driven by a full year’s equity contribution from Mount Thorley Warkworth and Hunter Valley Operations.
EBITDA contributions included the additional benefit of a full year’s underground production achieved at the Moolarben Coal Complex.>
The Group realised an average price1 of A$123 for its thermal coal products (2017: A$102) and A$182 for its metallurgical coal products (2017: A$165), representing an overall average price of A$132 (2017: A$114).
Thermal coal sales represented 81% (2017: 72%) of total coal sales, based on sales tonnes including external purchase coal sales.
FOB Cash Costs per tonne excluding royalties were A$63 (2017: A$62 per tonne), a slight increase on the year prior due to rises in coal mining sector inflationary costs and the addition of a full year’s attributable ownership of the Mount Thorley Warkworth and Hunter Valley Operations acquired in September 2017.
Yancoal’s operations produced a record 50.0 million tonnes saleable coal for 2018, up 59% on the year prior, with the Moolarben complex achieving a new annual total saleable coal production record of 16.5 million tonnes.
Yancoal achieved total sales of 37.1 million tonnes in 2018, up from 22.1 million tonnes in 2017.
Thermal coal sales of 29.9 million tonnes were supported by increased market demand (15.9 million tonnes FY2017).
Metallurgical coal sales were 7.2 million tonnes (6.2 million tonnes FY2017).