Core Viewpoint - Yancoal Australia reported a significant decline in revenue and profit for the first half of 2025, primarily due to falling global coal prices and supply chain disruptions [1][3]. Financial Performance - The company's revenue for the first half of 2025 was AUD 2.675 billion, a 15% decrease year-on-year [1]. - After-tax profit dropped to AUD 163 million, reflecting a substantial 61% decline compared to the previous year [1]. Coal Production and Sales - Despite challenges, the company achieved an 11% increase in equity coal production, reaching 18.9 million tons [1][4]. - However, coal sales decreased by 2%, falling from 16.9 million tons in the first half of 2024 to 16.6 million tons [4]. Price Trends - The average selling price of self-produced coal fell by 15%, from AUD 176 per ton in the first half of 2024 to AUD 149 per ton [3]. - Major coal price indices experienced significant declines, with the GCNewc thermal coal index dropping by USD 28 per ton (21%) and the API5 coal index decreasing by USD 19 per ton (21%) [3]. Supply Chain Issues - Supply chain disruptions, particularly due to severe weather in New South Wales, led to operational delays and increased inventory levels [4]. - The company faced challenges with rail network interruptions and restricted vessel passage at Newcastle port, resulting in coal stockpiling and cash flow impacts [4]. Outlook and Guidance - Yancoal Australia remains optimistic about achieving its full-year production target of 35 million to 39 million tons, supported by strong production capacity and operational efficiency [6]. - The company aims to maintain cash operating costs within the lower half of its guidance range, with costs reported at AUD 93 per ton [6]. - Capital expenditures are on track, with AUD 407 million spent in the first half, expected to reach the full-year guidance of AUD 750 million to AUD 900 million [6].