Yancoal Australia (ASX: YAL, HKEX: 3668) Releases 2025 Financial and Production Results

Bulletin Express17:02

Yancoal Australia reported a 7.00% increase in run-of-mine coal production to 67.00 million tonnes in 2025 (on a 100% basis) and a 6.00% increase in saleable production to 50.80 million tonnes. Attributable saleable production reached 38.60 million tonnes, a rise of 5.00% from 2024 and near the top range of guidance.

Revenue amounted to 5.95 billion Australian dollars, reflecting a 13.00% decrease from 2024 due to a 17.00% decline in the average realised coal price, which stood at A$146 per tonne. Despite lower international coal prices, operating EBITDA was 1.44 billion Australian dollars with an EBITDA margin of 24.00%. Cash operating costs came in at A$92 per tonne (excluding government royalties), largely in line with productivity gains and strong volumes, and lower than the midpoint of prior cost guidance.

The company concluded 2025 with a cash balance of 2.13 billion Australian dollars. The board declared a fully franked final dividend of 161.00 million Australian dollars (A$0.122 per share). Combined with the interim dividend, this final dividend produced a 55.00% payout ratio for the year.

Guidance for 2026 suggests attributable saleable production of 36.50 million to 40.50 million tonnes and cash operating costs between A$90 and A$98 per tonne. Attributable capital expenditure of 750.00 million to 900.00 million Australian dollars is also forecast, with management noting some delayed spending shifted from 2025 into 2026.

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