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- New Hope shared its AGM and Q1 FY23 results on 24 November 2022.
- Shares of New Hope reacted negatively to the news, 1.571% down as of 2:14 PM AEDT.
- Underlying EBITDA for FY22 saw an increase of 330% over the prior comparable period.
The ASX report mentions that New Hope generated sales of AU$8.8 million tonnes for the year. This was lower than AU$9.6 million tonnes sales in the previous year due to the New Acland operations coming to an end. However, the group managed to shoot up the average sales price during FY22, up from AU$101.36 per tonne in FY21 to AU$281.80 per tonne.
Following the mixed AGM results, shares of New Hope were trading 1.571% lower on the ASX. One New Hope share was valued at AU$5.325 as of 2:14 PM AEDT, 25 November. Meanwhile, in the last five trading sessions, New Hope’s shares have gained 0.47% while dipping 20.05% over a month. Additionally, the value of one New Hope share has increased 152.37% in a year and 129.53% on a year-to-date (YTD) basis.
Along with its 2022 AGM, New Hope shared results from its Q1 FY23. During the quarter, New Acland stage 3 received an associated water license to commence its operations. New Hope’s underlying EBITDA increased from AU$242.5 million in Q1 FY22 to AU$648.1 million in Q1 FY23. The company had cash and cash equivalents of AU$1.8 billion as of Q1 FY23. Thermal coal prices for New Hope touched another record for the quarter of US$414.72.
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