Coronado Global Resources Reports Robust Q4 Performance and Strategic Developments

Highlights:

• Coronado Global Resources achieved a 3.3% increase in coal production, reaching 6.1 million metric tonnes in Q4.
• The company recorded a significant 45.4% improvement in the Total Recordable Injury Rate (TRIR) as of December 31, 2023, showcasing a strong commitment to safety.
• Despite challenges, Coronado reported the second-highest annual revenue in company history at AU$2.9 billion for FY23, with a robust financial position and strategic growth projects fully funded.

Production and Safety Achievements

Coronado Global Resources (ASX: CRN) witnessed a 4% surge in its stock value following a successful end to the December quarter. The company reported a 3.3% increase in run-of-mine coal production, totaling 6.1 million metric tonnes. Noteworthy safety metrics include a Total Recordable Injury Rate (TRIR) of 0.77 as of December 31, 2023, marking a substantial 45.4% improvement since the previous year, demonstrating the company's commitment to safety.

Operational Highlights

The December quarter saw a strong production performance, with 6.1 Mt of ROM coal produced, up

3.3%. Group saleable production increased by 6.4%, attributed to enhanced production rates at Curragh. The fiscal year 2023 recorded a total waste movement of 183.8 million bank cubic meters, showcasing a 2.5% increase from the previous fiscal year.

Financial and Corporate Success

Coronado reported a FY23 group revenue of AU$2.9 billion, marking the second-highest annual result in the company's history. Despite challenges such as wet weather and logistical issues, the company maintained robust financials. Group capital expenditure was AU$228 million, and average mining costs per tonne sold were AU$107.6.

Coal Sales and Markets Overview

Group sales volumes for the December quarter aligned with the previous quarter at 4.1 Mt. However, sales volumes for FY23 were slightly down at 15.8 Mt, a 3.4% decrease compared to FY22. Issues impacting December sales included performance problems at the RG Tanna Coal Terminal, resulting in sales slippage to January 2024.

Realized Price and Market Trends

Coronado achieved a realized price per tonne of met coal sold at AU$215.7, representing a 72.8% realization on the FY23 average PLV HCC FOB AUS index price. Despite challenges, the December quarter witnessed an encouraging 26.7% increase in PLV HCC FOB AUS average index prices compared to the previous quarter.

The company remains optimistic about its future, with fully funded growth projects and strategic initiatives contributing to its resilience in the coal market.

Customer Notice:

Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.

Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com