Coal prices attract buyers for Aurizon’s billion-dollar rail divestment

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Coal prices attract buyers for Aurizon’s billion-dollar rail divestment

The Sydney Morning Herald2022-08-08

Aurizon says high coal prices are helping buoy the market for the billion dollar coal haulage business it must divest as a condition of its $2.4 billion acquisition of One Rail last month.After the ...

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This includes 11 months’ contribution from the newly acquired One Rail business and the impact from wet weather last month.“We think the outlook commentary is mildly disappointing, however, there may be some conservatism given macro context,” UBS said after the result. UBS said it was seeking to understand more detail around the weakness from Aurizon’s bulk haulage business and coal revenue yield outlook.Moody’s analyst Kenny Lo noted that Aurizon’s 2022 earnings were flat due to lower haulage volumes from weather-related disruptions and customer-specific production issues - offset by cost reductions and Aurizon’s CPI-linked contract rate escalations.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"hasMoreComments":false,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}