Coronado Global Resources shares slide on first-half loss
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More news: Shares in Coronado Global Resources took a hit in morning trade after the coal miner posted a first-half loss and a 46% drop in revenue compared to the prior corresponding period.
Coronado shares were down 2% to 25 cents at 12:10pm AEST, extending losses to 81.8% over the last 12 months.
Coronado posts first half loss amid low coal prices
The news: Coronado Global Resources broke even in EBITDA terms during the June quarter as the coal miner faced substantially lower coal prices year on year. However, it posted a loss in the first half of the year due to a weak March quarter.
The numbers: Coronado’s adjusted EBITDA for the first half of 2025 was a $73.4 million loss, a significant fall on the $135.4 million gain posted the year prior. Revenue also fell 46.3% year on year to $917.1 million.
The company also posted a net loss of $172.4 million amid an average realised metallurgical coal price per tonne sold at $149.8. This was a 33% drop in coal price year on year. Meanwhile, sales volume was 9% lower year on year at 7.1 million tonnes.
Operating cost per tonne sold was also 10.5% lower year on year at $137.1.
Quarter-on-quarter EBITDA changes are expected to improve into the September quarter and in the second half of the year. Cash capital expenditure for the second half is also expected to be about $80 million, which is about $70 million less than the first half.
The context: Coronado completed expansion projects for the Mammoth and Buchanan mines, located in Central Queensland and Virginia, US respectively, during the first half of the year.
Coronado managing director and CEO Douglas Thompson also said in a statement to the exchange that the company faced “decreased prices, headwinds related to production seasonality driven by weather, planned downtime relating to expansion works and tighter liquidity conditions”.
What they said: “By the second quarter, we had implemented significant structural changes operationally and financially which saw cash consuming production idles, identification of $80 million in cost savings in initiatives and up to $300 million liquidity increase through the ABL Facility with Oaktree and prepayment/deferral with Stanwell,” Thompson said.
