Coronado Global Resources Inc. · ASX:CRN
Coronado Global Resources — H1 2025 Earnings Presentation
35 slides from Coronado Global Resources's earnings presentation, Aug 12, 2025
Slide 1: Half Year Results and Investor Presentation
ASX Announcement 12 August 2025 Half Year Results and Investor Presentation Coronado Global Resources Inc. (ASX: CRN) releases the attached: • 2025 Half Year Results Announcement; and • 2025 Half Year Results Investor Presentation This announcement was authorised to be given to ASX by the Board of C
Slide 2: ASX Announcement - 2025 Half Year Results
ASX ANNOUNCEMENT - 2025 HALF YEAR RESULTS 12 August 2025 Coronado Global Resources Inc. (Coronado, Company or the Group) (ASX:CRN) today reports increasing production and sales within the half as well as US$200 million lower operating costs compared to the prior year. Breakeven EBITDA achieved in Q2
Slide 3: Health and Safety, Financial Performance
Production volumes improved across all operations throughout the half, with ROM production up 20% in the second quarter setting an improving trajectory that we expect will continue as our expansion projects ramp-up in H2. Our Australian assets ended the half with Average Mining Costs Per Tonne Sold
Slide 4: ABL Facility with Oaktree and Stanwell transactions closed
The ABL Facility with Oaktree and Stanwell transactions were closed during the half collectively increasing available liquidity by up to $300 million. At June 2025, the Company had total liquidity of $284 million, comprising $262 million in cash and cash equivalents and $22 million available under t
Slide 5: Operations, Organic Growth Plans, Mammoth Underground Met Coal Project
OPERATIONS ROM production, Saleable production and Sales Volumes all increased throughout HY25. The U.S. operations delivered improvements in all production areas in HY25 compared to HY24 with Sales volumes up 2.6% despite planned outages preparing for the Buchanan expansion project and idling asset
Slide 6: Buchanan Expansion, Rehabilitation, Emissions Reduction and Sustainability
Buchanan Expansion The Buchanan Expansion delivered first coal in June 2025, also on time and on budget. The project is forecast to increase production by 1 Mt of Saleable production per year. Capital works at our Buchanan mine are complete with the construction of a new surface raw coal storage are
Slide 7: Photo captions: Curragh and Buchanan operations
Caption: Curragh Complex, Mammoth Gas Drainage Project Infrastructure Caption: Buchanan Complex, VS18 VAM RTO Caption: Curragh Complex, Rehabilitation Activities. 6
Slide 8: Metallurgical Coal / Steel Market Outlook
METALLURGICAL COAL / STEEL MARKET OUTLOOK 1 Met Coal prices in 2025 have continued to trend below the longer-term averages, with the benchmark PLV HCC FOB AUS and LV HCC FOB USEC indexes not exceeding $200/t in 2025. There has been continued weak global demand, intensified competition and tariff unc
Slide 9: Reconciliation of Non-GAAP Measures
that we expect or anticipate will occur in the future are forward-looking statements. These forward-looking statements include projections related to expansion trajectory and production capacity in H2, forecasts of volume and cost improvements, expected benefits from the upcoming reset of our Stanwe
Slide 10: Mining and Operating Costs Per Tonne Reconciliation
MINING AND OPERATING COSTS PER TONNE RECONCILIATION For the quarter ended 30 June 2025 United Other / Total (In US$’000, except for volume data) Australia States Corporate Consolidated Total costs and expenses 292,326 215,071 7,994 515,391 Less: Selling, general and administrative expense (3) (13) (
Slide 11: Realised Pricing Reconciliation
For the six months ended 30 June 2024 United Other / Total (In US$’000, except for volume data) Australia States Corporate Consolidated Total costs and expenses 874,248 415,083 18,018 1,307,349 Less: Selling, general and administrative expense (34) - (17,427) (17,461) Less: Depreciation, depletion a
Slide 12: Adjusted EBITDA, Net Debt and Available Liquidity Reconciliation
ADJUSTED EBITDA RECONCILIATION For the six months For the six months ended ended (In US$’000) 30 June 2025 30 June 2024 Reconciliation to Adjusted EBITDA: Net (Loss)/ Income (172,401) 16,199 Add: Depreciation, depletion and amortization 86,029 96,612 Add: Interest expense, net 38,862 26,445 Add: Oth
Slide 13: Glossary
GLOSSARY A$ Australian dollar currency Met Coal Metallurgical quality coal ABL Facility Asset Based Lending facility Mt Million tonnes, metric Refer Non-GAAP Financial Measures AEST Australian Eastern Standard Time Net (Debt) / Cash section NEWC Thermal Thermal Coal Free On Board Newcastle AU / AUS
Slide 14: Half Year Results Presentation
| 2025 Douglas Thompson Barrie van der Merwe Half Year Results Managing Director & CEO Group CFO Presentation 12 August 2025 CRN - HY25 Results Presentation 1
Slide 15: Important Notices and Disclaimer
Important Notices and Disclaimer The material contained in this presentation is intended to be general background information on Coronado Global Resources Inc. (Coronado) and its activities. The information is supplied in summary form and is therefore not necessarily complete. It is not intended tha
Slide 16: 2025 H1 Highlights
2025 H1 Highlights Douglas Thompson Managing Director and CEO CRN - HY25 Results Presentation 3
Slide 17: 2025 Overview
2025 Overview Douglas Thompson Managing Director and CEO CRN - HY25 Results Presentation 4
Slide 18: High quality, long-life seaborne met coal producer
High quality, long-life seaborne met coal producer Recent investments paying off, future options & significant economic contributor • Large metallurgical coal assets in Tier 1 jurisdictions (U.S. and Australia). • ~US$1.5BN returned to shareholders in dividends since IPO in 2018. • Long life assets
Slide 19: Our growth projects are complete and delivering increased tonnes
Our growth projects are complete and delivering increased tonnes Mammoth Underground and Buchanan Expansion projects expected to deliver ~3.0 Mtpa of incremental Met Coal to seaborne markets once at full capacity Mammoth Underground Buchanan Expansion Project Summary Project Summary • ~2 Mtpa, secon
Slide 20: High quality assets with optionality
High quality assets with optionality Further growth potential actively pursued for Mammoth Phase 2 & 3 and Buchanan Staged growth across U.S. and Australian assets. Production growth underpinned by existing infrastructure, existing seams, lower cost and secured logistics capacity. Annual Year Contri
Slide 21: 2025 H1 Performance Highlights
2025 H1 Performance Highlights Major cost reduction, completion of growth projects, liquidity runway. Set for expected H2 benefits. Major Improvement at Planned investments in Expected Uplift in FCF in Liquidity improved existing operations new operations forecasted H2 for attractive returns from H2
Slide 22: H1 Financial Performance
H1 Financial Performance Barrie Van der Merwe CFO
Slide 23: Financial performance
Financial performance June quarter performance momentum expected to build strongly across H2 H1 2024 H1 2025 Q1 2025 Q2 2025 Variance Variance Actual Actual Actual Actual H1 24 v H1 25 Q1 v Q2 Revenue ($M) 1,342 917 449 468 (31.7%) 4.1% Mine Site Cash Costs ($M) 819 721 357 365 11.9% (2.3%) EBITDA (
Slide 24: Step change in H2 FY25 cash generation
Step change in H2 FY25 cash generation Mammoth Underground and Buchanan Expansion projects expected to deliver ~3.0 Mtpa of incremental Met Coal to seaborne markets once at full capacity 2.8 • Six-year record June ROM production. • H2 $ spend only expected slightly higher than 2.3 H1 – increase not
Slide 25: Positive cashflow inflection early FY27
Positive cashflow inflection early FY27 ~US$150M uplift at current prices Cashflow • Significant improvement in pricing for 1 Mt of 3 Mt Change in arrangement $A/year annual nominations. Trend • 600kt of historic 3 Mt nomination fully exposed to 600kt at spot price ~+A$100M spot. • 400kt at fixed pr
Slide 26: Balancing investment with stakeholder requirements
Balancing investment with stakeholder requirements H1 Cash flows ($M) +$173M • Coronado has been a material contributor to 138 QLD economy since Curragh acquisition in 2018. 51 • ~2,000 jobs of which ~235 created in last (Growth) 2 years with Mammoth investment. • Coal supply securing ~15% of base l
Slide 27: Liquidity and capital structure
Liquidity and capital structure No significant debt maturities in the near term Immediately available liquidity of $284M as of 30 June 2025: Available Liquidity ($M) • Only $75M drawn on ABL. 387 • ~$50M of Stanwell rebate deferrals remaining. 50 262 284 53 Working capital and other cash flows H1: 2
Slide 28: Q2 momentum expected to continue across H2
Q2 momentum expected to continue across H2 Driving cash generation and profitability Structural shifts expected in H2: • Increasing volumes, driven by the expansion projects ramp-up. • Lower Capital Expenditures driven by completion of expansion projects. • Further cost reduction ~$50m driven by idl
Slide 29: Questions and Answers
Questions and Answers CRN - HY25 Results Presentation 16
Slide 30: Contacts
Contacts Investors Registered Office Media Chantelle Essa Coronado Global Resources Inc. Helen McCombie Vice President Investor Sodali & Co Relations Level 33, Central Plaza One 345 Queen Street +61 411 756 248 +61 477 949 261 Brisbane, QLD, Australia, 4000 helen.mccombie@sodali.com cessa@coronado
Slide 31: Reconciliation of Non-GAAP measures
Reconciliation of Non-GAAP measures This presentation discusses results of the Company’s operations and includes references to and analysis of certain non-GAAP measures, which are financial measures not recognized in accordance with U.S. GAAP. Non-GAAP financial measures are used by the Company and
Slide 32: Reconciliation of Non-GAAP measures
Reconciliation of Non-GAAP measures For Three Months Ended March 31, 2025 For Six months ended June 30, 2025 United Other Total United Other (US$ thousands) Australia States /Corporate Consolidated (US$ thousands) Australia States /corporate Total Total costs and expenses 355,125 198,538 8,876 562,5
Slide 33: Reconciliation of Non-GAAP measures
Reconciliation of Non-GAAP measures For Three Months Ended March 31, 2025 For Six months ended June 30, 2024 United Total United Total (US$ thousands) Australia States Consolidated (US$ thousands) Australia States Consolidated Total operating costs 338,367 175,318 513,685 Total operating costs 827,4
Slide 34: Reconciliation of Non-GAAP measures
Reconciliation of Non-GAAP measures For Three Months Ended March 31, 2025 For Six months ended June 30, 2024 Australian U.S. Australian U.S. (In US$’000, except for volume data, unaudited) Consolidated (In US$’000, except for volume data, unaudited) Consolidated Operations Operations Operations Oper
Slide 35: Reconciliation of Non-GAAP measures
Reconciliation of Non-GAAP measures For the For the Total Total Total For the six For the six three three (In US$000, except for volume data, unaudited) Consolidated 30 Consolidated 31 Consolidated 30 Adjusted EBITDA reconciliation months months months months June 2025 March 2025 June 2024 (US$ thou
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