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Company News Summary

New Hope Corporation Provides Quarterly Activities Report

26 May 2022  |  09:01:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Quarterly Activities Report

New Hope Corporation provided quarterly activities report. The All-Injury Frequency Rate (AIFR) for the quarter was 35.61, which is an increase from last quarter. Oil prices continued to remain high during the quarter, with an average realised price of A$148/bbl. During the quarter, Bridgeport produced 69.4k bbl of oil and sold 61.3k bbl of oil. Underlying EBITDA for the quarter was $4.2m, and YTD $8.5m. Sales volumes were 21.9% lower than previous quarter in line with the reduction in saleable coal volumes. Whist volumes are down for the quarter and YTD, maintaining unit cost control has continued to be a focus for the operation. Cash generation for the quarter, excluding interim dividend payment was A$281.8m.

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