New Hope Corporation's Interim Financial Results - Half year ended 31 January 2024

New Hope Corporation Limited (NHC) has reported its interim financial results for the half year ended 31 January 2024. Despite a 62% decrease in NPAT and a 59% decrease in underlying EBITDA, the company has delivered targeted organic production growth and provided strong shareholder returns amidst the coal price retreating from unprecedented highs.

Executive Commentary on Interim Financial Results

Robert Bishop, Chief Executive Officer of New Hope Group, emphasized the favorable positioning of New Hope to take advantage of the demand for high-quality coal expected through the energy transition. He highlighted the company's low-cost coal assets and targeted organic growth as key factors contributing to its performance.

Summary of Interim Financial Results and Outlook

New Hope Corporation's interim financial results reflect a decrease in NPAT and underlying EBITDA. However, the company remains optimistic about the fundamentals for global seaborne thermal coal, especially for Australia's low-emission, high-quality coal. New Hope's disciplined cost control has ensured its position as a leading low-cost producer. The company's operations, including agricultural operations, oil and gas production, and exploration, demonstrate its commitment to responsible and sustainable practices. Looking ahead, New Hope aims to continue generating strong shareholder returns through targeted organic production growth and low-cost production, while maintaining a focus on disciplined capital management and maximizing shareholder returns.