Financial Performance - Yancoal achieved a record revenue of AUD 5.4 billion in 2021, with an EBITDA of AUD 2.53 billion, reflecting the company's strong operational performance during a challenging year[10]. - The company reported a net profit after tax of 791 million AUD for the year ended December 31, 2021[195]. - The operating profit before tax rose from a loss of AUD 218 million in 2020 to a profit of AUD 1,413 million in 2021, a 746% increase[175]. - The total revenue for the year ended December 31, 2021, was reported at 6,146 million AUD, a decrease from 6,163 million AUD in the previous year[198]. - The company reported a significant increase in revenue, achieving a total of AUD 1.2 billion for the fiscal year, representing a 15% year-over-year growth[62]. - The company achieved an operating EBITDA of AUD 2,531 million in 2021, with an EBITDA margin of 46%, up from 21% in 2020[45]. - The average actual selling price of metallurgical coal reached AUD 160 per ton, reflecting a 41% increase from the previous year[25]. - The average selling price of self-produced thermal coal rose from AUD 76 per ton in 2020 to AUD 134 per ton in 2021, an increase of 76%[152]. - The average cash operating cost per ton rose from AUD 59 in 2020 to AUD 67 in 2021, influenced by uncontrollable factors such as rising diesel prices and increased demurrage costs[45]. Production and Sales - The company sold 47.5 million tons of coal, with a sales volume of 37.5 million tons, while metallurgical coal sales increased from 11% to 15% of total sales[10]. - The company reported a total coal production of 3.7 million tons, with a significant increase of 50% compared to the previous period[24]. - Coal production decreased from 68.1 million tons in 2020 to 63.2 million tons in 2021, representing a decline of approximately 7%[135]. - The attributable sales volume for the year was 37.5 million tons, a 1% decrease from the previous year, with an increase in the ratio of coal to thermal coal[45]. - The company anticipates further growth in 2022, supported by its diversified asset portfolio and commitment to operational excellence[6]. - The projected coal production for the next fiscal year is expected to reach 4 million tons, indicating a growth strategy in response to market demand[24]. Cost Management - Operating costs per ton were AUD 67, with cash costs increasing by approximately AUD 3.50 per ton due to external factors such as rising diesel prices and adverse weather conditions[10]. - The average cash operating cost was AUD 114 per ton, which is significantly lower than the average selling price, ensuring healthy profit margins[25]. - The average cash operating cost per ton increased from AUD 59 in 2020 to AUD 67 in 2021, primarily due to wet weather in New South Wales and rising diesel prices[132]. - The company experienced a significant shift in sales distribution by customer region, with a 17% increase in sales to major Asian shipping markets[154]. Community and Environmental Initiatives - Total community donations in 2021 amounted to AUD 1.4 million, supporting various community initiatives and organizations[11]. - The company is committed to maintaining its ESG performance, which will be detailed in the upcoming ESG report[11]. - The company invested AUD 1.4 million in community support programs, positively impacting local health, environment, education, arts, culture, and community activities[39]. - Yancoal is preparing for a transition to a low-carbon economy by replacing diesel-powered mining equipment with electric alternatives and introducing renewable energy sources[39]. - The company aims to achieve zero harm in its operations, adhering to strict safety and environmental standards[35]. Strategic Initiatives and Future Outlook - Yancoal plans to diversify into renewable energy projects and other minerals to ensure long-term sustainability, aligning with global trends towards decarbonization[7]. - The company is focused on optimizing its sales strategy and enhancing product quality to better meet customer demands, particularly in high-end markets like Japan and South Korea[5]. - The company plans to expand into other minerals and commodities both domestically and internationally[11]. - The company is exploring opportunities in potash exploration licenses in Canada[56]. - The company is open to acquisitions of other mining assets or diversification into other minerals, energy, or renewable energy projects, subject to careful evaluation and board approval[45]. Governance and Management - The company has a strong management team with extensive experience in the coal mining industry, including the CEO and CFO[15][16]. - The board is responsible for overseeing risk management and financial investment decisions, including those related to climate change[41]. - The board emphasized the importance of corporate governance and compliance with regulations for listed companies[56]. - The management team has extensive experience in financial control and corporate governance[56]. - The company has established a register for interests and short positions as required by the Securities and Futures Ordinance[73]. Safety and Compliance - Yancoal Australia reported a total recordable injury frequency rate (TRIFR) of 8.4, an increase from 7.41 at the end of 2020, but still below the industry weighted average of 10.22[37]. - The company's safety performance was below the industry average, with a rolling TRIFR of 8.4[77]. - The TRIFR increase was attributed to the re-inclusion of the Watergong underground asset into the group's performance metrics[37]. - The company has implemented strict governance processes to improve its environmental, social, and governance performance[141]. Financial Stability and Debt Management - The company reduced its debt ratio to 24% and resumed dividend payments to shareholders[11]. - The debt-to-equity ratio improved from 41% at the end of 2020 to 24% by December 31, 2021, following the repayment of USD 500 million in debt[45]. - The company reported a net debt level that has returned to manageable levels, enhancing financial stability[26]. - The company has a commitment letter from Shandong Energy to support its operations and ensure solvency as long as it holds at least 51% of the company's shares[188].
兖煤澳大利亚(03668) - 2021 - 年度财报