兖煤澳大利亚(03668)第四季度权益煤炭销量为1080万吨 同比增长4%

Core Viewpoint - Yancoal Australia (03668) reported a strong performance in the fourth quarter of 2025, with significant increases in coal production and sales, reflecting positive market conditions for coal prices and demand [1] Production and Sales Summary - The total raw coal production for Q4 2025 was 18.9 million tons, representing a 20% increase quarter-on-quarter and a 9% increase year-on-year [1] - The commodity coal production reached 13.6 million tons, up 11% from the previous quarter and 5% year-on-year [1] - The equity commodity coal production was 10.4 million tons, with a 12% increase quarter-on-quarter and a 7% increase year-on-year [1] - The equity coal sales volume was 10.8 million tons, showing a 4% increase year-on-year [1] Pricing Summary - The overall coal sales price for Q4 2025 was AUD 148 per ton, with thermal coal prices increasing by 6% compared to Q3 2025 and metallurgical coal prices rising by 4% [1] Operational Guidance - The operational guidance for 2025 remains unchanged, with equity commodity coal production expected to be between 35 million to 39 million tons, achieving 38.6 million tons [1] - Cash operating costs are projected to be between AUD 89 to AUD 97 per ton, with the first half of 2025 at AUD 93 per ton, expected to be around the midpoint for the year [1] - Equity capital expenditure is forecasted to be between AUD 750 million to AUD 900 million, anticipated to be at the lower end of the range [1]