Whitehaven Coal Limited · ASX:WHC
Whitehaven Coal — Shareholder Meeting (October 2024)
22 slides from Whitehaven Coal's shareholder meeting presentation, Oct 30, 2024
Slide 1: 2024 AGM Addresses and CEO Presentation
30 October 2024 TO: ASX Market Announcements FROM: Company Secretary SUBJECT: 2024 Annual General Meeting – Addresses and Managing Director & CEO Presentation For personal use only Attached are the following which will be delivered at the Company’s Annual General Meeting being held today at 10:00am:
Slide 2: Chairman's Address: Transforming Whitehaven
The Hon Mark Vaile AO Chairman, Whitehaven Coal Address to the Whitehaven Coal Annual General Meeting 30 October 2024 Ladies and Gentlemen. I acknowledge the Traditional Owners of the land on which we meet, the Gadigal people of the Eora Nation, and pay my respects to their elders past and present.
Slide 3: Chairman's Address: Energy Demand and Climate Strategy
The challenges posed are immense. The demand for oil, natural gas coal and even wood (biomass) is at historic highs. So, while we may see the energy mix change, the net demand for hydrocarbons will continue to grow for decades to come, driven by the inexorable forces of population growth, the desire
Slide 4: Chairman's Address: Remuneration Framework
Safety and environmental outcomes are an important component of our executive remuneration framework, as is incentivising cost-efficient production outcomes and delivery of value creating development projects, including the Vickery development, Winchester South, Narrabri Stage 3 and the Maules Creek
Slide 5: CEO Address: Delivering on Our Strategy
Paul Flynn Managing Director and Chief Executive Officer, Whitehaven Coal Address to the Whitehaven Coal Annual General Meeting 30 October 2024 Thank you Chairman, and thank you to our shareholders who have joined us for Whitehaven Coal’s Annual General Meeting for 2024. Let me start by reflecting o
Slide 6: CEO Address: Development Projects and Safety
September after a particularly protracted assessment process that dates back to the EIS lodgement in October 2020. Our Maules Creek Continuation Project is progressing towards the lodgement of its Environmental Impact Statement, which we expect to occur in Q1 of CY25. These are important milestones
Slide 7: CEO Address: Market Drivers and Outlook
Ongoing strong demand and favourable mining conditions Before I turn to the outlook for FY25 and longer-term market dynamics, let me comment on the external drivers and impacts that shaped our performance during FY24. Demand for hard coking coal remained strong in FY24, as India’s demand grew and tr
Slide 8: CEO Address: FY25 Outlook
Daunia and Blackwater are important contributors to the current and future supply of this critical resource. Our development pipeline will also contribute to meeting future coal demand, with our Winchester South development project adjacent to Daunia providing us with synergistic opportunities to re
Slide 9: Whitehaven Coal Limited
Whitehaven Coal Limited For personal use only 2024 AGM Presentation 30 October 2024 Authorised for release by the Board of Whitehaven Coal Limited Whitehaven Coal Limited ABN 68 124 425 396 Level 28, 259 George Street, Sydney NSW 2000 P +61 2 8222 1100 | F +61 2 8222 1101 PO Box R1113, Royal Exchang
Slide 10: Disclaimer
Disclaimer This presentation contains information in a summary form and does not purport to be complete. It is qualified by any other information that Whitehaven discloses to the ASX. FORWARD LOOKING STATEMENTS For personal use only Statements contained in this material, particularly those regarding
Slide 11: We have doubled the size of our business
We have doubled the size of our business For personal use only Managed ROM production (Mt) NARRABRI MAULES CREEK ROCGLEN and WERRIS CREEK ~35-40 first coal from longwall production commences SUNNYSIDE mine mine closure closures MAULES CREEK COVID, labour supply, Narrabri mine ramp up conditions and
Slide 12: A pivotal year for Whitehaven
A pivotal year for Whitehaven For personal use only Daunia Blackwater Vickery Werris Creek
Slide 13: Excellent safety & environment performance in FY24
Excellent safety & environment performance in FY24 WHC recorded a NSW TRIFR for employees WHC had ZERO environmental enforceable For personal use only and contractors of 3.3 for FY241, a 30% action events in FY241, consolidating the improvement on 4.7 delivered in FY23 significant improvement on rec
Slide 14: Sustainability Report
Sustainability Report For personal use only 6
Slide 15: Operational highlights
Operational highlights Whitehaven Managed ROM Coal Production (Mt) For personal use only 24.5 3.5 First quarter • 24.5 Mt ROM production QLD 18.2 1.3 including 4.8Mt from QLD in Q4 contribution 3.5 3.4 • A$217/t average realised price (NSW) A$271/t in QLD in Q4 9.6 11.4 • A$114/t cost of production
Slide 16: FY24 financial highlights
FY24 financial highlights For personal use only • $3.8b revenue including $869m from QLD in Q4 • $1.4b underlying EBITDA including $272m from QLD in Q4 • $740m underlying NPAT • $355m statutory NPAT after non-recurring costs1 • 20.0 cps full year dividend fully franked • 23% total shareholder return
Slide 17: FY24 external market drivers
FY24 external market drivers Strong underlying demand continues to underpin good pricing outcomes For personal use only Supply and demand Pricing environment Costs, including regulatory • Robust HCC demand in FY24, • Strong metallurgical coal imposts while Russian sanctions indices US$287/t average
Slide 18: Structural shortfalls forecast in seaborne coal markets
Structural shortfalls are forecast in seaborne high CV thermal coal and metallurgical coal markets For personal use only Global supply & demand Global supply & demand 1 for 2 for 400seaborne high CV thermal coal (>5850 NCV) 400seaborne metallurgical coal Million tonnes 350 Million tonnes 350 300 139
Slide 19: Demand growth for metallurgical coal underpinned by India
Demand growth for metallurgical coal is largely underpinned by India For personal use only Asia seaborne demand for metallurgical coal1 (Mt) Recent Wood Mackenzie forecasts indicate: 350 Japan • ~29% growth in demand for seaborne metallurgical 300 China coal into Asia by 2050, with India to grow ~11
Slide 20: FY25 guidance
FY25 guidance1 For personal use only FY25 Guidance FY24 actual2 GROUP QLD NSW Managed ROM Coal Production Mt 24.5 35.0 – 39.5 17.6 – 19.7 17.4 – 19.8 Managed Coal Sales3 Mt 19.5 28.0 – 31.5 14.4 – 16.1 13.6 – 15.4 Equity Coal Sales3 Mt 16.4 25.1 – 28.3 14.4 – 16.1 10.7 – 12.1 Cost of Coal4 A$/t 120
Slide 21: Capital allocation framework
Capital allocation framework Disciplined capital allocation builds resilience and delivers shareholder value For personal use only Operating cash flows 1 2 3 During deferred payment period for the Maintain & optimise Retain cash / maintain Return to shareholders acquisition, we expect to: operations
Slide 22: Thank you
For personal use only Thank you