Whitehaven Coal (ASX:WHC) announced financial results for the full-year ended 30 June 2022.
Long-term under-investment in coal supply underpinned strong demand for high-CV coal.
The global supply shortfall intensified following Russia's conflict in Ukraine.
Coal prices reached record levels, with a record average realised coal price of A$325/t for FY22 compared with A$95/t in FY21.
Equity coal sales of 14.2M tonne.
82% of sales to thermal customers, 18% to metallurgical customers.
Record NPAT of $2.0 billion compared with a statutory loss of $544 million in FY21.
Record EBITDA of $3.1 billion, a significant increase on $204.5 million in the prior year.
Cash from operations of $2.6 billion compared with $169.5 million in FY21.
$1.0 billion of taxes and royalties paid or payable for FY22.
$1.53 million in corporate community partnerships and donations.
$354.5 million spent with local suppliers.
$8.73 million spent with 14 Aboriginal and Torres Strait Islander business.
3% increase in employee engagement scores to 6.3 out of 10.
15.3% female participation in our workplace up from 12% in FY21.
11.8% of workforce identify as Aboriginal and/or Torres Strait Islander.
Introduction of retention bonuses for operations employees.
Executive remuneration framework reviewed.
Balance sheet strength with senior bank debt full repaid and $1.2b of cash at 30 June 2022.
40 cent fully franked final dividend and 8 cent interim dividend.
$362.6 million to buy back shares.
154% total shareholder returns ranked #1 in the ASX100.
Following the announcement the company?s share price rose 3.939%.