Overview of New Hope Corporation's 2024 Full Year Results

New Hope Corporation Limited (ASX:NHC) has released its 2024 Full Year Results, reporting a strong operational performance for the year ended 31 July 2024. The company achieved a 151% increase in Total Recordable Injury Frequency Rate (TRIFR) and a 32% increase in ROM coal production. Despite a 51% decrease in Underlying EBITDA, New Hope Corporation saw a 26% increase in coal sales and a 14% increase in coal sales, generating a cash flow from operations of $562M. The Net Profit After Tax (NPAT) experienced a 56% decrease, amounting to $476M.

Executive Commentary on Safety and Operational Performance

The safety of our people remains a key priority, and we are continuously striving to enhance it. The incidents and injuries in FY24 mainly comprised minor first aid cases, with hand injuries being the most prevalent. The increased metrics were attributed to the ramp-up of the New Acland Mine and a focus on promoting increased reporting of all injuries. We have initiated various key actions to improve performance, including hand injury awareness training, analysis of exposure risk, reviewing fitness for work criteria, and enhancing health, safety, and wellbeing resourcing.

Summary of 2024 Full Year Results and Outlook

New Hope Corporation's 2024 Full Year Results reflect a strong operational performance and a focus on delivering its organic growth pipeline. Despite the decrease in Underlying EBITDA and NPAT, the company achieved significant increases in coal production and sales. The company's targeted organic saleable coal production is set to increase, and it aims to continue responsibly operating its assets in the face of increasing demand for thermal coal. New Hope Corporation's disciplined allocation of capital has resulted in substantial returns to shareholders, and its focus on rehabilitation and agriculture demonstrates its commitment to sustainable practices. The company's liquidity management policies and investments in fixed income opportunities have contributed to its financial flexibility. Looking ahead, New Hope Corporation is well-positioned to capitalize on the positive outlook for thermal coal demand and maintain its strong industry position.