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Whitehaven Coal Limited : Annual Report 2011
2011 highlights • Underlying net profit after tax (NPAT), before Significant Items, of $73.3 million, up 33% from FY2010; • N PAT after significant items of $9.9 million. Total significant items after tax of $63.4 million including: – $45.8 million from losses incurred on legacy contracts from both purchased coal and financial settlements – $11.6 million foreign exchange loss relating to the outstanding USD receivable from EDF for its Narrabri JV purchase. • A fully franked final dividend of 4.1 cents per share has been declared, payable on 30 September 2011. This takes the total dividend for the year to 7. 4 cents per share; • Revenue of $437.0 million (net of purchased coal and excluding NSW royalty), up 33% from FY2010; • Earnings before interest, tax, depreciation and amortisation (EBITDA) of $189.7 million (excluding coal purchases), reduced to $148.0 million after coal purchases; • Cash generated from operations of $120.3 million, compared to $69.3 million in FY2010; • Proceeds received from the sale of Narrabri of $190.8 million during the year; • Strong cash flow and financial position – $207.6 million cash available with net cash of $29.0 million compared to $141.0 million cash available and net cash of $46.1 million at 30 June 2010; Financial Performance (A$ millions) 2011 2010 Movement Sales revenue 622.2 406.8 +52.9% EBITDA before significant items 148.0 108.8 +36.0% EBIT before significant items 107.0 76.7 +39.5% N PAT before significant items 73.3 55.1 +33.0% Significant items net of tax (63.4) 59.8 - 206.0% N PAT after significant items 9.9 114.9 - 91.3% EPS-diluted 2.0 cents 24.0 cents - 91.7% 4
Annual Report 2010
Annual Report 2012