Financial Performance - Total revenue decreased by 20% from AUD 4,879 million in the first half of 2022 to AUD 3,924 million in the first half of 2023[62]. - Coal sales revenue fell by 20% from AUD 4,799 million in the first half of 2022 to AUD 3,853 million in the first half of 2023[67]. - Net profit after tax attributable to shareholders decreased by 44% from AUD 1,738 million in the first half of 2022 to AUD 973 million in the first half of 2023[65]. - Operating profit before interest, tax, depreciation, and amortization (EBITDA) dropped by 42% from AUD 3,001 million to AUD 1,821 million[62]. - The company reported a significant increase in transportation costs, rising by 25% from AUD 321 million to AUD 401 million[62]. - The average selling price of self-produced coal decreased by 11% from AUD 314 per ton in H1 2022 to AUD 278 per ton in H1 2023, primarily due to a decline in global coal prices[30]. - The overall average cash operating cost per product ton increased from AUD 83 in H1 2022 to AUD 109 in H1 2023, driven by reduced coal production and inflationary cost pressures[31]. - The effective tax rate decreased from 36% in the first half of 2022 to 24% in the first half of 2023[62]. - The company’s basic earnings per share fell by 44% from 131.6 cents to 73.7 cents[62]. Production and Operations - The company plans to enhance production capacity in the second quarter of 2023, with further growth expected in the third and fourth quarters[8]. - The company continues to assess its product profile and market conditions to maximize operating profit margins[8]. - The company is actively considering market conditions and optimizing product quality and quantity to expand its customer base and explore new markets[28]. - The company’s coal products include high-quality thermal coal, semi-soft coking coal, and PCI coal, with pricing based on various indices and fixed contracts[25]. - The company continues to implement a mine recovery plan to address high water levels in its mines, which is expected to enhance production efficiency throughout the year[26]. - Yancoal Australia faced operational disruptions due to prolonged heavy rainfall and labor shortages, which affected mining activities[26]. - Total raw coal production increased by 1% from 25.8 million tons in H1 2022 to 26.0 million tons in H1 2023, with key assets showing a 5% increase[33]. - Total saleable coal production decreased by 11% from 20.8 million tons in H1 2022 to 18.6 million tons in H1 2023, with key assets declining by 8%[34]. - The company’s attributable coal production increased from 5.9 million tons in the quarter ending March 31, 2023, to 8.5 million tons in the quarter ending June 30, 2023[88]. Debt and Financing - The company repaid USD 333 million in debt on March 31, 2023, which is expected to reduce total financing costs by approximately USD 43 million over the loan term[7]. - As of June 30, 2023, the company had no interest-bearing loans following the debt repayment[7]. - The group’s financing from a syndicate of banks amounted to AUD 1,200 million, with a drawn balance of AUD 954 million as of June 30, 2023[138]. - The company has AUD 246 million of undrawn secured financing available, maturing in February 2026, to support operational activities[125]. Environmental, Social, and Governance (ESG) - The company is committed to achieving zero harm and has implemented core hazard controls to ensure operational safety and compliance with legal standards[44]. - The company’s environmental, social, and governance (ESG) performance is monitored by its Health, Safety, Environment, and Community Committee, with annual reports published on relevant platforms[47]. - The group established a dedicated sustainability department, focusing on reducing Scope 1 and Scope 2 emissions, with specific targets for carbon emissions reduction in Yancoal Australia[49]. - The Australian federal government has committed to reducing emissions by 43% by 2030 compared to 2005 levels, impacting the company's operations under new legislation[48]. - The company plans to enhance its operational emissions reduction and support low-emission technology research to mitigate downstream emissions from coal consumption[48]. - The company is actively working on a four-phase mental health program, with the second phase completed during the reporting period[46]. Market and Sales - The company reported that 85% of its coal sales revenue for the half-year ended June 30, 2023, came from customers in Japan, Taiwan, South Korea, and China[24]. - The percentage of sales revenue from coal exports to China increased from 0% in H1 2022 to 15% in H1 2023, as China resumed imports of Australian coal[76]. - The Newcastle thermal coal index price fell by USD 120 per ton (37%) during the same period, while the Argus/McCloskey API5 coal index price dropped by USD 70 per ton (38%)[30]. Capital Expenditure and Investments - Capital expenditure cash flow for the half-year ended June 30, 2023, was AUD 295 million, compared to AUD 132 million in the same period of 2022[126]. - The company is focusing on internal growth opportunities and capital expenditure, with a commitment to expand its brownfield projects[127]. - The company is considering acquisitions of additional coal assets and exploring opportunities in other minerals, energy, or renewable energy projects[128]. Employee and Workforce - The total employee cost for the group was AUD 348 million for the reporting period, compared to AUD 329 million in the first half of 2022, reflecting an increase in workforce expenses[132]. - As of June 30, 2023, the group had approximately 3,437 employees located in Australia, including contractors equivalent to full-time employees[132]. - The company aims to increase the female workforce participation rate to 15% in 2023, building on progress made in gender diversity[133]. Cash Flow and Liquidity - Cash flow from operating activities decreased by 97% to AUD 89 million, primarily due to increased tax payments and reduced net cash receipts from customers[110]. - Cash outflow from investing activities increased by 476% to AUD 282 million, including capital expenditures of AUD 295 million[111]. - Cash outflow from financing activities rose by 49% to AUD 1,447 million, including AUD 924 million in dividends paid[112]. - Current assets decreased by AUD 1,754 million to AUD 2,056 million as of June 30, 2023, mainly due to a reduction in cash and cash equivalents[115]. - Cash and cash equivalents decreased to AUD 715 million from AUD 2,176 million as of December 31, 2022, indicating a significant reduction in liquidity[122]. Shareholder Returns - The company announced a mid-year dividend of AUD 489 million, equating to AUD 0.3700 per share, with a record date of September 6, 2023, and a payment date of September 20, 2023[135]. - Total equity increased by AUD 63 million to AUD 8,093 million, reflecting a half-year profit after tax of AUD 973 million, offset by dividends paid of AUD 924 million[116].

澳洲證券交易所、香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完 整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部分內容而產生或因倚賴該等內容而引致的任何損失 承擔任何責任。 Yancoal Australia Ltd ACN 111 859 119 兗煤澳大利亞有限公司* （於澳大利亞維多利亞州註冊成立的有限公司） （香港股份代號: 3668） （澳洲股份代號: YAL） 截至 2023 年 6 月 30 日止半年度 半年業績公告、中期分派及記錄日期 截至 2023 年 6 月 30 日止半年度之半年業績 兗煤澳大利亞有限公司（「本公司」）董事會（「董事會」）欣然公佈本公司及其附屬公司截至 2023年 6 月 30 日止半年度之半年業績。該半年業績已由本公司審核與風險管理委員會審閱，其認 為有關業績的編製符合適用會計準則及規定，並已作出充足披露。 本公告列載本公司截至 2023年 6月 30日止半年度的半年財務報告全文，符合香港聯合交易所有限 公司證券上市規則（「上市規則」）中有關中期業績公告的披露要求。 隨附公告簡體中文版可在兗煤澳洲網站參閱， 網址 - w ...

Financial Performance - Yancoal Australia achieved record revenue of AUD 10.5 billion in 2022[4] - The company reported record operating EBITDA of AUD 7 billion, with an EBITDA margin of 65%[4] - Yancoal Australia generated a record profit of AUD 3.6 billion in 2022[4] - The average realized price for thermal coal was AUD 372 per ton, while metallurgical coal averaged AUD 405 per ton, leading to an overall average selling price of AUD 378 per ton[4] - The total sales revenue exceeded AUD 10 billion, marking a significant increase from prior years[8] - Revenue rose by 95% from AUD 5,404 million in 2021 to AUD 10,548 million in 2022, primarily due to the increase in actual coal prices[60] - The operating profit before interest, tax, depreciation, and amortization increased to AUD 6,959 million in 2022, with a profit margin of 65%[60] - The company achieved a net cash position starting July 2022, indicating improved financial health[21] - The dividend payout for 2022 was AUD 1.23 per share, with a payout ratio of 118%[18] - The company declared a fully franked final dividend of AUD 0.70 per share for the first time, benefiting shareholders directly[4] Production and Sales - The coal production for 2022 was 50.5 million tons, with a sales volume of 29.3 million tons, both down approximately 20% compared to 2021[6] - Total saleable coal production for 2022 was 14.9 million tons, with 8.1 million tons from Mount Thorley Warkworth and 9.6 million tons from Hunter Valley Operations[39] - The average actual price of coal in 2022 was AUD 378 per ton, a 168% increase from 2021, driven by strong coal prices[60] - The company expanded its market presence, selling coal to 13 target markets, with significant sales growth in Europe[4] - The company faced operational challenges due to extreme weather conditions, which affected mining productivity and equipment availability[59] Debt and Financial Management - The company repaid AUD 2.6 billion in debt and plans to clear all external interest-bearing loans for the first time since its establishment[4] - The company has repaid approximately USD 801 million in debt in July 2022, USD 1 billion in debt in October 2022, and USD 459 million in debt in December 2022, totaling USD 2.76 billion in debt repayments[61] - The company expects to save approximately AUD 294 million in financing costs in 2023 due to debt repayments made in 2022[61] - The company maintained a net cash position at the end of 2022, improving the debt-to-equity ratio from 24% at the end of 2021 to 0%[60] Safety and Training - Over 90% of Yancoal Australia's employees participated in safety training, maintaining safety statistics above the industry average[2] - The total injury frequency rate at the end of the year was 8.1, continuing a downward trend since 2018[6] - Yancoal Australia's total recordable injury frequency rate (TRIFR) at the end of 2022 was 8.11, down from 8.4 at the end of 2021, indicating effective safety measures[52] - The company's TRIFR is below the industry weighted average of 8.42, demonstrating a commitment to safety and operational excellence[52] - In 2022, Yancoal Australia initiated a five-year plan to standardize health, safety, and training management across all operations, aiming to enhance safety culture[52] Community and Environmental Initiatives - Community contributions increased to AUD 1.8 million in 2022, supporting local initiatives and organizations[6] - Yancoal Australia invested AUD 1.84 million in community support programs in 2022, positively impacting local health, environment, education, arts, culture, and community activities[53] - The company is committed to reducing operational emissions and investing in low-emission technologies to mitigate downstream emissions from coal consumption[53] - Yancoal Australia is actively developing two renewable energy projects, including a feasibility study for the Stratford Renewable Energy Centre[3] - The company is collaborating with Green Gravity to explore the potential application of innovative energy storage technology at a former coal mine site in New South Wales[53] Future Outlook and Strategic Initiatives - Future outlook includes potential market expansion and strategic initiatives to enhance operational capabilities and efficiency[40] - The company aims to maintain a strong financial position while exploring opportunities for mergers and acquisitions in the coal sector[40] - The company is focused on compliance and corporate governance, with dedicated roles for legal and compliance oversight[71] - The company plans to continue expanding its market presence and investing in new technologies to enhance operational efficiency[155] - The company is evaluating potential acquisitions and organic growth opportunities, including additional coal assets and renewable energy projects[196] Executive Compensation and Governance - The executive compensation framework aims to align with shareholder interests, focusing on economic performance as a core part of the overall compensation plan[91] - The long-term incentive plan rewards participants based on performance conditions, with 60% tied to earnings per share and 40% based on further performance metrics[91] - The board has discretion to settle deferred short-term and long-term incentive plan rights in cash, with cash equivalents based on the market value of shares at the time of settlement[91] - The company has made structural adjustments to the executive compensation framework to align participants' interests with those of the company and its shareholders[91] - The board oversees the appointment, remuneration, and performance of senior management, ensuring alignment with the company's strategic goals[103]

Financial Performance - Total revenue for the half-year ended June 30, 2022, was AUD 4,776 million, a significant increase from AUD 1,775 million in the same period of 2021, representing a change of 169%[5] - The company reported a pre-tax loss of AUD 2,455 million, compared to a pre-tax loss of AUD 177 million in the previous year, marking an increase of 1,487%[5] - Basic and diluted loss per share before non-recurring items was AUD 131.6 cents, a substantial improvement from a loss of AUD 9.8 cents in the prior year, reflecting a change of 1,443%[6] - The net profit after tax attributable to the owners of Yancoal Australia was AUD 1,738 million, a 1,447% increase from a loss of AUD 129 million in the first half of 2021[57] - The operating profit before tax for the half-year was AUD 2,581 million, reflecting a significant increase of 30,267% from a loss of AUD 56 million in the previous year[55] - The adjusted operating EBITDA for the half-year was AUD 3,001 million, representing a 677% increase from AUD 341 million in the previous year[55] - Operating EBITDA increased to AUD 3,153 million in H1 2022, with an operating EBITDA margin of 65%, compared to 23% in H1 2021[17] - The company reported a 614% increase in share of profit from associates, rising to AUD 72 million from a loss of AUD 14 million[55] Revenue Sources - Revenue surged by 269% from AUD 1,775 million in H1 2021 to AUD 4,776 million in H1 2022, driven by a 234% increase in actual coal prices[17] - Coal sales revenue reached AUD 4,799 million for the six months ended June 30, 2022, compared to AUD 1,736 million in the previous year, indicating a growth of about 176%[135] - The average actual price for thermal coal was AUD 298 per ton in H1 2022, while metallurgical coal averaged AUD 402 per ton, reflecting a more than threefold increase compared to the previous 12 months[16] - The average selling price of self-produced coal increased by 234% from AUD 94 per ton in H1 2021 to AUD 314 per ton in H1 2022, driven by a rise in global coal prices[39] - Revenue from customers in Japan, Taiwan, and South Korea accounted for approximately 67% of coal sales revenue[36] Production and Costs - Yancoal Australia reported a 6% decrease in raw coal production from 29.3 million tons in H1 2021 to 25.8 million tons in H1 2022, and a 10% decrease in salable coal production from 23.2 million tons to 20.8 million tons[15] - The average cash operating cost increased from AUD 66 per ton in H1 2021 to AUD 83 per ton in H1 2022, primarily due to lower production and external cost pressures such as high diesel prices and wage inflation[15] - The total raw coal production decreased by 12% from 29.3 million tons in H1 2021 to 25.8 million tons in H1 2022, with significant declines at major assets like Moranbah and Walker[40][41] - The total saleable coal production also fell by 10% from 23.2 million tons in H1 2021 to 20.8 million tons in H1 2022, primarily due to reduced raw coal output[41] - The company's cash operating cost per ton rose from AUD 64 in H1 2021 to AUD 83 in H1 2022, attributed to wet weather and inflationary pressures[39] Dividends and Shareholder Returns - The board declared an interim dividend of AUD 696 million, equating to AUD 0.5271 per share, with a record date of September 6, 2022, and a payment date of September 20, 2022[8] - The board of directors is required to declare dividends of at least 50% of net profit after tax or free cash flow, whichever is higher, excluding extraordinary items[21] - The company declared a total dividend of AUD 930 million for 2021, including a final dividend of AUD 0.5000 per share and a special dividend of AUD 0.2040 per share[171] Environmental and Community Initiatives - The company invested AUD 1.7 million in community support programs during the half-year, positively impacting local health, environment, education, arts, culture, and community activities[14] - The company is preparing for a transition to a low-carbon economy by evaluating processes for replacing diesel-powered mining equipment with electric alternatives and introducing renewable energy sources[14] - The company is focusing on reducing Scope 1 and Scope 2 emissions, including transitioning to renewable energy sources and replacing diesel-powered equipment[49] - The company donated AUD 0.5 million to assist flood victims in New South Wales and Queensland, benefiting 1,522 recipients[48] Operational Challenges - The company has experienced production impacts due to weather events, leading to revised operational cost guidance in the second quarter[20] - The company estimates a total loss of 6.2 million tonnes of raw coal (equity) due to extreme wet weather conditions impacting operations[37] - The COVID-19 pandemic has led to the highest reported positive cases and active isolations since the start of the pandemic, resulting in an estimated loss of 0.9 million tonnes of raw coal (equity)[37] Financial Position and Assets - The company had AUD 3,383 million in cash and cash equivalents as of June 30, 2022, with a capital debt ratio of 3% compared to 40% a year earlier[17] - Total assets increased by 1,847 million AUD to 13,647 million AUD, driven by the rise in current assets[97] - Total liabilities increased by 1,050 million AUD to 6,704 million AUD, primarily due to an increase in current liabilities[97] - Total equity rose by 797 million AUD to 6,943 million AUD, reflecting a net profit after tax of 1,738 million AUD offset by dividends paid[97] Strategic Plans and Future Outlook - Yancoal Australia plans to increase the annual production capacity at the Moraben open-cut mine from 14 million tons to 16 million tons within the next 12 months[18] - The company is considering acquisitions of additional coal assets and exploring opportunities in other minerals, energy, or renewable energy projects[18] - The company continues to assess its product portfolio and market conditions to align with customer needs and maximize operational profits amid favorable cyclical conditions in the coal market[20] - The company is focusing on brownfield expansions and exploration projects at Morabbin and Walker's Hill as part of its long-term growth strategy[115] Compliance and Governance - The company has adopted the corporate governance code as per the Hong Kong Listing Rules since its listing on December 6, 2018, and believes it has complied with the code during the reporting period[23] - The company’s board and senior management have confirmed compliance with the share trading policy during the reporting period[24] - The company’s share trading policy has been revised to ensure clarity on insider trading laws and guidelines for directors and employees[24]

Financial Performance - Total revenue for the six months ended June 30, 2021, was AUD 1,775 million, a decrease of 10% compared to AUD 1,969 million for the same period in 2020[3]. - Loss before tax (excluding non-recurring items) was AUD 177 million, compared to a loss of AUD 45 million in the previous year, representing a 293% increase in loss[3]. - Loss after tax (excluding non-recurring items) was AUD 177 million, compared to a profit of AUD 593 million in the previous year, indicating a 130% decline[3]. - Basic loss per share (excluding non-recurring items) was (9.8) cents, a 250% increase in loss compared to (2.8) cents in the previous year[4]. - The net loss attributable to shareholders was AUD 129 million, a significant decline from a profit of AUD 605 million in the first half of 2020, representing a 121% decrease[50]. - EBITDA for the first half of 2021 was AUD 341 million, down 17% from AUD 1,088 million in the previous year, resulting in an EBITDA margin of 19%[47]. - Operating EBITDA for the first half of 2021 was AUD 406 million, with an EBITDA margin of 23%, slightly down from 25% in the first half of 2020[15]. - The company reported a net loss before tax of AUD 177 million for the six months ended June 30, 2021, compared to a profit of AUD 593 million in the same period of 2020[129]. - The company reported a total of AUD 344 million in customer contract receivables as of June 30, 2021, up from AUD 223 million at the end of 2020[134]. Production and Sales - Coal production decreased by 11% to 29.3 million tons in the first half of 2021 compared to the same period in 2020, while salable coal production fell by 10% to 23.2 million tons[13]. - Revenue decreased by 10% to AUD 1,775 million in the first half of 2021, primarily due to an 8% reduction in coal sales[15]. - Coal sales volume fell by 8% from 17.8 million tons in H1 2020 to 17.2 million tons in H1 2021, attributed to a 5% reduction in available coal production and adverse weather conditions[55]. - The total saleable coal production from the company's major assets decreased from 16.8 million tons in the first half of 2020 to 15.4 million tons in the first half of 2021, reflecting an 8% decline[39]. - The proportion of thermal coal sales decreased from 85% in the first half of 2020 to 80% in the first half of 2021, impacting the overall pricing dynamics[35]. - The metallurgical coal production increased by 32% from 2.8 million tons in the first half of 2020 to 3.7 million tons in the first half of 2021, indicating a shift in production focus[39]. Costs and Expenses - The average cash operating cost increased from AUD 63 per ton in the first half of 2020 to AUD 66 per ton in the first half of 2021, influenced by rising diesel prices and production disruptions due to wet weather[13]. - The overall average cash operating cost per ton increased from AUD 63 in the first half of 2020 to AUD 66 in the first half of 2021, primarily due to wet weather in New South Wales and hard rock intrusion at Morabbin[36]. - Employee benefits decreased by 4% to AUD 284 million from AUD 295 million in the previous year[47]. - Transportation costs increased by 5% to AUD 289 million compared to AUD 276 million in the same period of 2020[47]. - Coal procurement expenses dropped by 51% from AUD 199 million in H1 2020 to AUD 97 million in H1 2021, mainly due to climate factors limiting procurement opportunities[74]. Shareholder Returns - No dividends were declared for the current financial period, compared to AUD 280 million or 21.21 cents per share in the previous year[6]. - The company reported a net financing cost of AUD 121 million, which increased by 52% compared to AUD 109 million in the previous year[47]. Market Conditions - The coal market and benchmark coal prices have shown significant improvement over the past six months due to favorable global economic conditions and international coal trade[18]. - The average API5 price was USD 60 per ton during the period, with a closing price of approximately USD 76 per ton[14]. - The company plans to enhance the production of higher-quality thermal coal to capture more price arbitrage between API5 and GCNewc indices[14]. Environmental and Safety Compliance - The total recordable injury frequency rate (TRIFR) increased to 8.4 from 7.4 in the previous year, although it remains below the industry average of 11.13[11]. - The company has implemented strict environmental approvals and processes to ensure compliance with regulatory requirements[11]. - The group has implemented systems and processes to manage compliance with environmental approvals and permits, with ongoing improvements and third-party audits[44]. Strategic Initiatives - The company aims to increase salable coal production to approximately 21.5 million tons in the second half of 2021[13]. - Yancoal is open to acquisitions of other mining assets and diversifying into other minerals, energy, or renewable energy projects[17]. - The company continues to assess its product portfolio and market conditions to align with customer needs and maximize operational profits[18]. - The company continues to seek quality acquisition opportunities and focuses on internal growth strategies[102]. Financial Position - The company has cash and cash equivalents of AUD 539 million as of June 30, 2021, with over AUD 800 million in undrawn debt facilities[16]. - Total assets decreased by AUD 178 million to AUD 10,877 million, mainly due to amortization leading to a decrease in mining rights of AUD 151 million[94]. - Total liabilities decreased by AUD 210 million to AUD 5,652 million, reflecting a reduction in interest-bearing liabilities by AUD 230 million[94]. - Total equity increased by AUD 32 million to AUD 5,225 million, primarily due to an increase in contributed equity of AUD 216 million[94]. Governance and Compliance - The company has adopted the corporate governance code as part of its policies since its listing on the Hong Kong Stock Exchange on December 6, 2018[20]. - The independent auditor confirmed compliance with independence requirements during the review period[32]. - The financial statements for the half-year ended June 30, 2021, were not audited but reviewed by the audit and risk management committee[28].

以分享價值為本 專注於澳大利亞未來 2020年度報告 6 (2 兗煤 澳大利亞有限公司* （於澳大利亞維多利亞註冊成立的有限公司） 澳交所股份代號：YAL 聯交所股份代號：3668 ACN 111 859 119 * 僅供識別 我們能夠 規劃的未來 我們珍視 採礦是我們的工作，但採礦遠不止於我們生 產的煤炭或煤炭的使用方式。採礦創造實現 報酬的崗位。採礦讓地方城鎮繁榮興盛。採礦 支持政府預算。 採礦讓人們、社區及社會看到未來。只要負責 任且合乎道德，採礦就可以對幾代人產生有 益的影響。165年來，Josie的家族一直從事採 礦。三代人均從事採礦工作。 彼等均於採礦中成長。彼等「生活」在採礦之 中，接受著採礦的各種艱難險阻。採礦為這 個家庭提供了機會、職業及未來，可以說彼等 身上流淌著採礦的血液。兗煤的故事遠不止 煤炭。 ~4,300 兗煤的故事講述我們對人們生活及生計的積極 影響：正在入門的見習生；早上上班路上為我 們提供咖啡的人；我們支持的當地企業；我們 再生的環境； 我們培育的社區；我們創造的工作場所文化； 我們促進的夥伴關係；以及未來依靠我們的家 庭。我們珍視這些故事。 名分佈於各崗位的全職同等崗位 （ ...

Financial Performance - Total revenue for the half-year ended June 30, 2020, was AUD 1,973 million, a decrease of 16% from AUD 2,350 million in the same period of 2019[5]. - Underlying profit before tax (excluding non-recurring items) was a loss of AUD 45 million, down 108% from a profit of AUD 492 million in the previous year[5]. - Underlying profit after tax (excluding non-recurring items) increased by 22% to AUD 593 million, compared to AUD 492 million in the prior year[5]. - Basic earnings per share (excluding non-recurring items) was a loss of 2.8 cents, down 111% from 26.1 cents in the previous year[6]. - Net profit after tax for Yancoal was AUD 605 million, an increase of AUD 41 million from AUD 564 million in the first half of 2019[13]. - Total revenue decreased by 16% from AUD 2,363 million in H1 2019 to AUD 1,980 million in H1 2020, primarily due to a 17% drop in coal sales revenue from AUD 2,272 million to AUD 1,897 million[52]. - Operating EBIT for H1 2020 was AUD 95 million, down 85% from AUD 646 million in H1 2019, with an EBIT margin of 5%[51]. - Operating EBITDA fell by 49% from AUD 940 million in H1 2019 to AUD 481 million in H1 2020, with the EBITDA margin dropping from 40% to 24%[71]. - Net profit after tax rose by 75% from AUD 345 million in H1 2019 to AUD 605 million in H1 2020, increasing the profit margin from 15% to 31%[78]. Production and Sales - Total saleable coal production for the first half of 2020 was 25.6 million tonnes, a decrease of 3% from 26.4 million tonnes in the first half of 2019, while attributable production increased by 7% to 19.0 million tonnes[17]. - The total coal sales volume for the first half of 2020 was 18.4 million tonnes, with thermal coal sales of 16.5 million tonnes and metallurgical coal sales of 1.9 million tonnes[15]. - The total raw coal production from the Moolarben mine was 11.1 million tonnes, a 2% increase from 10.9 million tonnes in the first half of 2019[16]. - The total raw coal production from the MTW mine was 8.2 million tonnes, a decrease of 10% from 9.1 million tonnes in the first half of 2019[16]. - The total raw coal production from the HVO mine was 8.4 million tonnes, a decrease of 5% from 8.8 million tonnes in the first half of 2019[16]. - Saleable thermal coal production increased by 10% from 14.8 million tons in H1 2019 to 16.3 million tons in H1 2020[45]. - Saleable metallurgical coal production decreased by 26% from 3.8 million tons in H1 2019 to 2.8 million tons in H1 2020[45]. Costs and Expenses - The cash operating cost was slightly below the target of AUD 61 per tonne, aided by lower input costs and ongoing operational optimizations[12]. - The average cash operating cost, excluding government royalties, decreased from AUD 62 per ton in H1 2019 to AUD 60 per ton in H1 2020[41]. - The total production cost, including cash and non-cash operating costs, was AUD 91 per ton in H1 2020, down from AUD 94 per ton in H1 2019[61]. - Employee benefits increased by 13% from AUD 260 million in H1 2019 to AUD 295 million in H1 2020, raising the cost per ton of coal sold from AUD 15 to AUD 16[65]. - Transportation costs decreased by 6% from AUD 293 million in H1 2019 to AUD 276 million in H1 2020, lowering the cost per ton of coal sold from AUD 16 to AUD 15[66]. Debt and Financing - Yancoal replaced a USD 1.275 billion debt facility maturing on December 31, 2019, with new financing of the same amount, with most repayments now due in 2024 and 2025[14]. - The company repaid USD 300 million of its secured bank loans during the period, with most repayments due in 2024 and 2025[87]. - The company has AUD 566 million of undrawn debt available from its AUD 1,400 million unsecured third-party financing as of June 30, 2020[88]. - The company’s interest-bearing debt includes secured bank loans of AUD 1,852 million and unsecured loans from related parties of AUD 1,189 million as of June 30, 2020[87]. - The company has drawn AUD 835 million from a total of AUD 1.4 billion in unsecured loans aimed at funding working capital and capital expenditures[172]. Market Conditions - The company experienced a negative impact on demand for thermal and metallurgical coal due to reduced economic activity, particularly during the COVID-19 pandemic[40]. - Coal prices showed signs of stabilization towards the end of the reporting period, despite initial declines in the second quarter[40]. - The company’s coal mining operations are significantly influenced by the market demand for thermal and metallurgical coal, which is affected by macroeconomic trends[40]. - The company anticipates a 5.5% decline in global seaborne demand for thermal coal from 2020 to 2040, while metallurgical coal demand is expected to increase during the same period[143]. Shareholder Information - The company declared a dividend of 21.21 cents per share for the 2019 final dividend, totaling AUD 280 million[8]. - The largest shareholder, Yanzhou Coal Mining Company, holds 822,157,715 shares, accounting for 62.26% of the total shares[33]. - Cinda International HGB Investment (UK) Limited and its controlled entities collectively own 209,800,010 shares, representing 15.89% of the total shares[33]. - The company’s share trading policy prohibits certain employees from trading during specific blackout periods, ensuring compliance with insider trading regulations[28]. Assets and Liabilities - Total assets as of June 30, 2020, amounted to AUD 11,514 million, an increase from AUD 11,093 million at the end of 2019[105]. - Current assets decreased by AUD 633 million to AUD 1,140 million, mainly due to a reduction in cash and trade receivables[84]. - Total liabilities increased by AUD 99 million to AUD 5,029 million, reflecting debt repayments offset by an increase in deferred tax liabilities[85]. - Total equity increased by AUD 322 million to AUD 6,485 million, primarily due to a net profit after tax of AUD 605 million[85]. Acquisitions and Joint Ventures - The company recognized a bargain purchase gain of AUD 653 million from acquiring an additional 10% interest in the Morabien joint venture, impacting net profit significantly[49]. - The acquisition of a 10% interest in the Moolarben coal joint venture was completed for a cash consideration of AUD 300 million, plus an adjustment of AUD 8 million[195]. - The company now holds a 95% interest in the Moolarben joint venture, up from 85% prior to the acquisition[199]. Risk Management - The group faces financial risks including currency risk, price risk, interest rate risk, credit risk, and liquidity risk, with policies in place to manage these risks[93][94][95][96][97][98]. - The group has not entered into any derivative hedging instruments for spot coal price fluctuations[95]. - The company continues to monitor its working capital situation and believes it can meet its debt obligations due within the next 12 months[113].

powering human potential 2019 年度報告 C Yancoal Australia Ltd 兗煤澳大利亞有限公司* ( 於澳大利亞維多利亞註冊成立的有限公司 ) ASX STOCK CODE: YAL 股份代號 : 3668 ACN 111 859 119 * 僅供識別 1 3 3 1,25 the pro 3 1 Kiria te 99999 e a the y t and the 1 1 賦能 人類 潛能 提高生活及經濟水平。 在澳大利亞各地，我們的員工每天都在生產煤炭，煤炭為亞洲經濟提供動力並使 之不斷發展。我們的煤炭是各國發展的動力，也是各國人民創造美好未來的動 力。在國內，以許多繁榮的農村社區為核心，擁有區域性勞動力，我們倍感自 豪。 我們知道世界正邁向低碳未來。我們的員工和社區是推動新科技發展所需大智慧 的來源。我們預計，在推動發展及激發人類潛能發展技術以驅動低排放解決方案 方面，我們將發揮至關重要的作用。兗煤正不斷激發人類潛能以提高生活及經濟 水平。 | --- | --- | --- | --- | |-------|-------|-------|-------| ...

Financial Performance - Total revenue for the half-year ended June 30, 2019, was AUD 2,350 million, a slight increase of 0% compared to AUD 2,347 million in the same period of 2018[3]. - Profit before tax (excluding non-recurring items) decreased by 9% to AUD 492 million from AUD 539 million year-on-year[3]. - Net profit attributable to shareholders (excluding non-recurring items) was AUD 345 million, down 7% from AUD 369 million in the previous year[3]. - Basic earnings per share (excluding non-recurring items) decreased by 9% to 26.1 AUD cents from 28.7 AUD cents year-on-year[4]. - Basic earnings per share (after excluding non-recurring items) increased by 49% to 42.7 AUD cents from 28.7 AUD cents in the previous year[4]. - EBITDA for H1 2019 was AUD 940 million, down 4% from AUD 980 million in H1 2018, with an EBITDA margin of 40%[22]. - EBIT for H1 2019 was AUD 646 million, a decrease of 12% compared to AUD 736 million in H1 2018, with an EBIT margin of 27%[22]. - Profit attributable to shareholders increased by 56% from AUD 361 million in H1 2018 to AUD 564 million in H1 2019[21]. - The company reported a net financing cost of AUD 89 million, a significant decrease of 43% from AUD 156 million in H1 2018[22]. - The tax expense for H1 2019 was AUD 147 million, a decrease of 17% from AUD 178 million in H1 2018[22]. - The company’s other income decreased by 83% from AUD 35 million in H1 2018 to AUD 6 million in H1 2019[22]. Coal Production and Sales - The total raw coal production increased by 5% from 32.9 million tons in H1 2018 to 34.4 million tons in H1 2019, with significant contributions from major assets like Morabbin, MTW, and HVO[14]. - The total saleable coal production rose by 4% from 25.4 million tons in H1 2018 to 26.4 million tons in H1 2019, driven by improvements in production rates and equipment utilization[14]. - Coal sales volume for H1 2019 was 2,272 million tons, a 1% increase from 2,250 million tons in H1 2018[23]. - The company experienced a 29% increase in purchased coal sales, rising from 155 million tons in H1 2018 to 200 million tons in H1 2019[23]. - The saleable thermal coal production increased by 7% from 13.8 million tons in H1 2018 to 14.8 million tons in H1 2019, while metallurgical coal production rose by 5% to 3.8 million tons[17]. - The company’s coal mining operations are diversified across five major open-cut and underground mines in Australia, primarily producing thermal and metallurgical coal[11]. - The overall average pithead selling price of coal decreased by 3% from AUD 128 per ton in H1 2018 to AUD 124 per ton in H1 2019, primarily due to a decline in global USD coal prices and an increase in the proportion of lower-grade coal sales[12]. - The average selling price of thermal coal decreased from AUD 117 per ton to AUD 112 per ton, while the average selling price of metallurgical coal fell from AUD 191 per ton to AUD 184 per ton[12]. - The proportion of saleable coal production from the company's tier-one assets increased from 86% in H1 2018 to 88% in H1 2019[17]. Dividends and Shareholder Returns - The company declared a non-taxable dividend of AUD 137 million (10.35 AUD cents per share), representing 24% of the after-tax profit[6]. - The company plans to distribute 50% of its adjusted net profit after tax as dividends for 2019[72]. Financial Position and Assets - Total assets decreased by AUD 495 million to AUD 10,884 million, mainly due to the reduction in current assets[55]. - Total liabilities decreased by AUD 727 million to AUD 4,814 million, primarily due to voluntary debt repayments of AUD 698 million[55]. - Total equity increased by AUD 232 million to AUD 6,070 million, reflecting a net profit after tax of AUD 564 million partially offset by the final dividend payment of AUD 377 million[55]. - Current assets decreased by AUD 528 million to AUD 1,394 million, primarily due to strong operating cash flow being offset by voluntary debt repayments of AUD 698 million and final dividends of AUD 377 million[54]. - Current liabilities increased by AUD 328 million to AUD 1,241 million, reflecting the reclassification of interest-bearing liabilities of AUD 425 million (USD 300 million) from non-current to current due to maturity in June 2020[55]. Cost Management - The cash operating cost, excluding government royalties, remained stable at AUD 62 per ton[12]. - The average cash operating cost per ton remained unchanged at AUD 62, indicating effective cost management amidst fluctuating market conditions[12]. - The company’s operating expenses included a 7% increase in transportation costs, rising from AUD 274 million in H1 2018 to AUD 293 million in H1 2019[22]. - Cash operating costs increased to AUD 76 per ton in H1 2019, up from AUD 75 in H1 2018, reflecting a 1.3% rise[30]. - Total production costs reached AUD 94 per ton in H1 2019, compared to AUD 91 per ton in H1 2018, marking a 3.3% increase[30]. Market Conditions and Risks - Demand for thermal coal in the Asia-Pacific region was weak during the period due to various factors, leading to a decline in index coal prices[11]. - The metallurgical coal market remained stable with minimal price fluctuations during the same period[11]. - The group faces financial risks including currency risk, price risk, interest rate risk, credit risk, and liquidity risk[64]. - The group’s credit risk is significantly reduced due to measures such as setting credit limits and requiring letters of credit from certain customers[68]. - The group maintains sufficient cash and current deposit balances to manage liquidity risk[69]. Accounting and Compliance - The financial statements for the half-year ended June 30, 2019, were not audited but reviewed by the audit and risk management committee[94]. - The group adopted Australian Accounting Standard AASB 16 Leases effective from January 1, 2019, changing its accounting policy for lease contracts[105]. - The group will not restate comparative information when transitioning to AASB 16, continuing to report under AASB 117 for prior periods[105]. - The company adopted AASB 134 for the preparation of its interim financial report, ensuring compliance with Australian accounting standards[103]. Employee and Operational Metrics - The total employee cost was AUD 260 million, compared to AUD 254 million in the first half of 2018[63]. - The group had approximately 3,000 employees located in Australia as of June 30, 2019[63]. - Yancoal's TRIFR (Total Recordable Injury Frequency Rate) remained stable at 7.171 as of June 30, 2019[75]. Future Outlook - The company anticipates that Australia will maintain a 26% share of global seaborne thermal coal demand, benefiting from its position as a key source of high-quality coal[12]. - The board believes that the market fundamentals remain optimistic in the long term despite current regional supply and demand factors[80].