Coronado's Tough Half
Coronado's Tough Half
The average realized price per tonne sold dropped 13% to $US199 a tonne, while Coronado said its mining costs were up 10.8% to $US107.7 a tonne, mostly due to rises in first-quarter costs from the wet weather.Quarterly updates from the likes of Yancoal (ASX:YAL) and Whitehaven (ASX:WHC) have already given a big hint about the likely slide in June 30 earnings for the coal mining sector, but the interim results from US and Australian miner, Coronado (ASX:CRN), confirmed that the reporting season for this sector won't be pleasant.
来自烟煤（ASX:YAL）和怀特黑文（ASX:WHC）等公司的季度更新已经暗示了煤炭开采行业在6月30日盈利的可能下滑，但美国和澳大利亚矿业公司科罗纳多（ASX:CRN）公布的中期业绩结果证实了该行业的报告季将不会愉快。
Earnings for the half fell 62% on an EBITDA basis to $US135.4 million because of the impact of weak pricing for its coking coal product and production problems—which seem to have been reined in during the June quarter.
由于焦炭产品价格疲软和生产问题的影响，EBITDA营业利润减少了62%，至1.354亿美元，这些问题似乎在6月份得到了控制。
Coronado said on Tuesday that revenue for the half was $US1.34 billion, down from $US1.49 billion a year earlier. Net income fell 92% to $US16.2 million despite a 2.2% rise in sales volumes to 7.8 million tonnes for the half.
科罗纳多周二表示，上半年营业收入为13.4亿美元，低于去年同期的14.9亿美元。尽管上半年销售量为780万吨，同比增长2.2%，但净利润下降了92%，至1620万美元。
The average realized price per tonne sold dropped 13% to $US199 a tonne, while Coronado said its mining costs were up 10.8% to $US107.7 a tonne, mostly due to rises in first-quarter costs from the wet weather.
售出每吨煤的平均实现价格下降了13%，至199美元，而科罗纳多表示，由于天气潮湿导致的第一季度成本上涨，其采矿成本上涨了10.8%，至107.7美元/吨。
On the face of those figures, a tough half-year is evident, but the company took steps in the June quarter to improve costs and returns from its major asset, the Curragh export coking coal mine in Queensland.
就这些数据来看，上半年的形势已十分严峻，但该公司在6月份采取了措施，以提高其主要资产——昆士兰州库拉格出口焦炭煤矿的成本和回报。
The company noted that completion of improvements at Curragh led to higher production, higher sales, lower costs, and improved margins in the second quarter, with improved results "expected to continue for the remainder of the year."
该公司指出，对库拉格的改进完工导致了第二季度产量的提高、销售量的增加、成本的降低和利润的提高，并预计"这种改进预计将在今年剩余时间内继续发挥作用。"
Coronado said "dramatic cost and productivity gains" at Curragh will set "new benchmarks for future performance."
科罗纳多表示，在库拉格的"巨大成本和生产力提升"将为未来的表现设立"新的基准。"
In a brief comment Tuesday afternoon, Moody's Ratings said that while the weak EBITDA result was "credit negative" for Coronado, the second-quarter improvement was a positive.
穆迪评级公司周二下午简短地评论说，虽然EBITDA营业利润的疲软对科罗纳多来说是"信用负面的"，但第二季度的改善是一个正面因素。
"While the result reflects a moderation in met coal prices compared to those in 2023, the first-quarter results saw elevated costs due to weather-related disruptions, further impacting its financial performance. However, Coronado's second-quarter production costs have significantly reduced due to cost initiatives at its Curragh mine. We expect ongoing operational optimization to continue to support its margins in the second half of 2024.
"虽然业绩反映出与2023年相比的冶金焦炭价格的相对适度，但第一季度结果由于与天气有关的干扰导致成本升高，进一步影响了其财务表现。然而，科罗纳多在库拉格煤矿采取了成本措施，第二季度产量成本大大降低。我们预计持续进行的企业优化将继续支持其2024下半年的利润。
"The company maintains good liquidity buffers with $414 million of available liquidity and reported net debt of $4.7 million," Moody's added.
"该公司拥有可用流动性41400万美元，在报告期末的净债务为470万美元," 穆迪补充说。
