Overview of Stanmore's 2023 full year financial results

Stanmore (ASX: $SMR) has released its 2023 full year financial results, reporting a saleable production of 13.21Mt, which exceeded the upper-end of the 13.0Mt guidance. The company demonstrated its earnings capacity with an underlying EBITDA of 1,100 US$ m, delivering total shareholder returns of over 40% for 2023, surpassing the ASX300 average of 13.7%. Stanmore's FOB cash cost remained steady at 86 US$ /t, reflecting strong operating performance and cost management amidst supportive market conditions.

Executive commentary on safety, sustainability, and financial performance

Safety remains paramount for Stanmore, with the SAFR rate staying below the industry average, although one serious accident was recorded in December. The company's sustainability efforts focus on responsible operations, decarbonisation, water & waste management, and social initiatives. Stanmore's financial performance reflects its robust earnings capacity, delivering strong shareholder returns and maintaining a steady FOB cash cost amidst inflationary challenges.

Summary of 2023 full year financial results and outlook

Stanmore's 2023 full year financial results showcase its strong operational and financial performance, exceeding saleable production guidance and delivering significant shareholder returns. The company's commitment to safety, sustainability, and responsible governance is evident in its ongoing efforts. Looking ahead, Stanmore aims to incorporate the Millennium Complex into its consolidated guidance, ramping up production and adjusting cost guidance to accommodate the inclusion of the new asset. The company's focus on growth projects and strategic acquisitions positions it well for the future, aligning with the forecasted increase in global steel output and demand for metallurgical coal.