ASX Share rice
Sun 09 Aug 2020 - 06:05:pm (Sydney)

YAL Share Price

YANCOAL AUSTRALIA LIMITEDYALEnergy

YAL Company Information

Name:

Yancoal Australia Ltd

Sector:

Energy

Industry:

Thermal Coal

GIC Industry:

Oil, Gas & Consumable Fuels

GIC Sub Industry:

Coal & Consumable Fuels

Address:

201 Sussex Street Sydney NSW Australia 2000

Phone:

61 2 8583 5300

Full Time Employees:

2900

Chief Exec. Officer:

Mr. David James Moult

Chief Operating Officer:

Mr. Paul Stringer

Vice-Chair:

Mr. Ning Zhang

Chief Financial Officer:

Mr. Ning Su

Gen. Mang. of Investor Relations:

Mr. Brendan Fitzpatrick

Company Overview:

Yancoal Australia Ltd engages in the exploration, development, production, and marketing of metallurgical and thermal coal in Japan, Singapore, China, South Korea, Taiwan, Thailand, Australia, and internationally. It owns 85% interests in the Moolarben coal mine located in the Western Coalfields of New South Wales; 100% interests in the Stratford Duralie mines located within the New South Wales Gloucester Basin; 100% interests in the Yarrabee mine located to the northeast of Blackwater in Central Queensland's Bowen Basin; and 80% interests in the Mount Thorley mine and 84.5% interests in the Warkworth mine in the Hunter Valley region of New South Wales. It also manages five other projects in New South Wales, Queensland, and Western Australia. The company was founded in 2004 and is based in Sydney, Australia. Yancoal Australia Ltd is a subsidiary of Yanzhou Coal Mining Company Limited.

YAL Share Price Information

Shares Issued:

1.32B

Market Capitalisation:

$2.72B

Dividend per Share:

$0.32

Ex Dividend Date:

2020-03-13

Dividend Yield:

15.53%

Revenue (TTM):

$4.50B

Revenue Per Share (TTM):

$3.41

Earnings per Share:

$0.544

Profit Margin:

0.1598

Operating Margin (TTM):

$0.21

Return On Assets (TTM):

$0.05

Return On Equity (TTM):

$0.12

Quarterly Revenue Growth (YOY):

-0.146

Gross Profit(TTM):

$2.24B

Diluted Earnings Per Share (TTM):

$0.544

QuarterlyEarnings Growth(YOY):

-0.698

YAL CashFlow Statement

CashFlow Date:

2019-12-31

Investments:

$-392,000,000

Change To Liabilities:

$20M

Total Cashflow From Investing Activities:

$-392,000,000

Net Borrowings:

$-695,000,000

Net Income:

$719M

Total Cash From Operating Activities:

$1.55B

Depreciation:

$604M

Other Cashflow From Investing Activities:

$-80,000,000

Dividends Paid:

$-514,000,000

Change To Inventory:

$-35,000,000

Change To Account Receivables:

$90M

Capital Expenditures:

$285M

YAL Income Statement

Income Date:

2019-12-31

Income Before Tax:

$767M

Net Income:

$719M

Gross Profit:

$3.37B

Operating Income:

$1.16B

Other Operating Expenses:

$139M

Interest Expense:

$226M

Income Tax Expense:

$48M

Total Revenue:

$4.37B

Total Operating Expenses:

$2.20B

Cost Of Revenue:

$1B

YAL Balance Sheet

Balance Sheet Date:

2019-12-31

Intangible Assets:

$37M

Total Liabilities:

$4.93B

Total Stockholder Equity:

$6.16B

Other Current Liabilities:

$13M

Total Assets:

$11.09B

Common Stock:

$6.22B

Other Current Assets:

$51M

Retained Earnings:

$163M

Other Liabilities:

$587M

Good Will:

$60M

Other Assets:

$1.41B

Cash:

$0.96B

Total Current Liabilities:

$2.11B

Short-Term Debt:

$1.24B

Property - Plant & Equipment:

$7.54B

Net Tangible Assets:

$6.06B

Long-Term Investments:

$273M

Total Current Assets:

$1.77B

Long-Term Debt:

$2.17B

Net Receivables:

$276M

Short-Term Investments:

$9.32B

Inventory:

$261M

Accounts Payable:

$387M

Non Currrent Assets (Other):

$225M

Short-Term Investments:

$9.32

Non Current Liabilities (Other):

$14M

Non Current Liabilities Total:

$2.82B

YAL Share Price History

YAL News

06 Jul, 2020
Moody's Investors Service has assigned a Ba1 rating to the proposed USD senior unsecured notes to be issued by Yankuang Group (Cayman) Limited and guaranteed by Yankuang Group Company Limited (Yankuang, Ba1, stable). Yankuang is one of China's leading coal companies.
29 May, 2020
(Bloomberg Opinion) -- It’s not unusual for large new mines to attract opposition and controversy. But rarely has so much energy, political and financial capital been spent on a project with as little prospect of making money as Australia’s Carmichael mine.As we’ve written, the sums used to justify the pit being developed by an affiliate of billionaire Gautam Adani’s ports-to-power Adani Group don’t really make sense. At reasonable costs for production, transport, finance and infrastructure, its low-grade coal would be far more expensive than comparable product available elsewhere. Adani’s Indian-based power unit already loses money on every kilowatt-hour of electricity it sells and runs well below capacity. Fueling its power stations at the cost needed to make Carmichael stand up would make matters even worse.Adani has always said that the economics of the project “remain strong,” but its published accounts for the year ended in March suggest the company is finding it harder to make that assessment. “It is not likely that taxable income will be earned in the foreseeable future,” they state for the first time this year, in reference to a A$1.29 billion ($857 million) tax loss that’s been run up so far.That doesn’t exactly mean the project will never spit out cash of any sort. Such remarks can just be boilerplate to define where the potential A$386 million tax benefit belongs on the balance sheet. Still, looking at the way the company values its own project shows just how generous your assumptions must be to believe this mine can actually make money. The company uses “industry-standard techniques” in valuing the project, a spokesperson said by email.(3)Take Carmichael’s base valuation of A$1.07 billion as of March 31. A discount rate of 13.5% leaves the project extremely sensitive to the price of coal in its first four or five years of operation, a period that would account for about half of its lifetime cashflow.Should the coal price fall by just 10%, that valuation would decline by A$882 million, according to the accounts — more than 80% of its balance sheet value. That would push accumulated losses, which already amount to A$795 million, uncomfortably close to A$2 billion.A 10% fall in a commodity price is not a particularly dramatic event. Futures based on the main Asian coal pricing benchmark — 6,000 kilocalorie product from Australia’s Newcastle port — have slid by 9% or more in about three out of every 10 quarters over the past decade. After a price surge between 2016 and 2018 they slumped 34% last year, and have dropped a further 16% so far this year. Since Adani’s valuation date at the end of March, the average futures price over the 12 months through May 2021 has slumped 14%. Viktor Tanevski, principal analyst for coal research at Wood Mackenzie, estimates that Carmichael's product would currently price at around $40 a metric ton based on discounts to benchmark spot prices, although that figure would change over the life of a project. The mine won’t be economically viable on a net-present-value basis unless prices for high-ash coal rise from their current levels, he wrote by e-mail, adding that he expects prices will climb and put the project in the black in the medium term. Even at current prices the mine would be able to operate at positive margins, Tanevski said. His estimate doesn’t factor in the costs of interest payments, depreciation or tax.Carmichael’s discount rate is also worth examining, since it was reduced over the past year to 13.5% from 14%. That enhances the assessed value of the project — indeed, a 1 percentage point increase would reduce its value by A$345 million, according to the accounts. Some rate reduction isn’t entirely unreasonable: The project is closer to operation than it was a year ago, so it should be less risky while interest rates generally have fallen. Still, it looks generous compared to other Australian coal mines. Whitehaven Coal Ltd. applied a discount rate of 11% to its operations at the time of its 2017 annual report(2), and Yancoal Australia Ltd. currently uses a rate of 10.5%. Their mines have been in operation for years, often decades, and their few development projects won’t add significantly to their near-term revenue. Carmichael, on the other hand, is a single greenfield project in the early stages of construction, and major lenders in Australia have already made clear they won’t finance it. Such a thin risk premium could be very useful in producing a positive valuation in the accounts.Why should this matter? The controversy attached to Carmichael seems out of all proportion to its significance. While the world’s climate needs fewer, not more thermal coal mines, comparable projects like MACH Energy Australia Pty.’s Mount Pleasant and Whitehaven Coal’s Vickery have quietly advanced without the opposition and demands for government support that Carmichael has attracted.Adani’s motivation in pursuing such a questionable project is hard to fathom, as is the persistence with which both sides of Australian politics pretend this emperor still has clothes. And all of it is predicated on the notion that this is an economically viable project with a positive net present value.If Carmichael is going to earn money, pay taxes and employ workers for years, it might be justified in chewing up so much political time and money. If it’s unable to stand on its own feet, then Australia’s fossil fuel-friendly politicians are likely to end up with a white elephant reliant on state support for as long as it’s able to keep going. Coal’s days are numbered. The sooner Adani and Canberra recognize that, the better.(Corrects the price estimate for Carmichael’s product in the eighth paragraph, and clarifies Wood Mackenzie’s definition of economic viability.)(1) “We apply industry standard techniques for the purpose of calculating fair value of our Carmichael asset, inclusive of engaging independent external third parties to undertake such valuation work," a spokesperson for Adani wrote by e-mail. "We also utilise independent third parties for the provision of long term commodity price forecasts and FX forecasts for incorporation into the valuation of the asset. Given that Carmichael construction is now well progressed the project is significantly de-risked from an execution perspective which of course translates into a lower discount factor.”(2) It hasn't reported the number since.This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.David Fickling is a Bloomberg Opinion columnist covering commodities, as well as industrial and consumer companies. He has been a reporter for Bloomberg News, Dow Jones, the Wall Street Journal, the Financial Times and the Guardian.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
23 May, 2020
The goal of this article is to teach you how to use price to earnings ratios (P/E ratios). We'll show how you can use...
24 Mar, 2020
Today we are going to look at Yancoal Australia Ltd (ASX:YAL) to see whether it might be an attractive investment...
05 Mar, 2020
Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Yankuang Group Corporation Limited and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers.
Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Yanzhou Coal Mining Company Limited and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers.
19 Feb, 2020
Moody's Investors Service has upgraded Yanzhou Coal Mining Company Limited's corporate family rating to Ba1 from Ba2. At the same time, Moody's has upgraded to Ba1 from Ba2 the backed senior unsecured debt rating on the bond issued by Yancoal International Resources Development Co., Limited and guaranteed by Yanzhou Coal. The upgrade also reflects the improved credit profile of its parent, Yankuang Group Corporation Limited (Ba1, Stable).
Moody's Investors Service has assigned a Ba1 corporate family rating (CFR) to Yankuang Group Corporation Limited. This is the first time that Moody's has assigned a rating to the company. Yankuang's Ba1 CFR reflects its Baseline Credit Assessment (BCA) of b1 and a three-notch uplift, based on Moody's assessment of a strong likelihood that the company would receive support from and Yankuang's high level of dependence on the Shandong Provincial Government, and ultimately the Government of China (A1 stable), in times of stress.
24 Jan, 2020
In 2013 Reinhold Schmidt was appointed CEO of Yancoal Australia Ltd (ASX:YAL). This analysis aims first to contrast...
09 Dec, 2019
As an investor, mistakes are inevitable. But really big losses can really drag down an overall portfolio. So consider...
04 Nov, 2019
This article is for investors who would like to improve their understanding of price to earnings ratios (P/E ratios...
07 Oct, 2019
Today we are going to look at Yancoal Australia Ltd (ASX:YAL) to see whether it might be an attractive investment...
13 Sep, 2019
David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...
08 Sep, 2019
Half Year 2019 Yancoal Australia Ltd Earnings Call
20 Aug, 2019
Looking at Yancoal Australia Ltd's (ASX:YAL) earnings update in December 2018, analyst forecasts seem pessimistic, as...
10 Aug, 2019
Could Yancoal Australia Ltd (ASX:YAL) be an attractive dividend share to own for the long haul? Investors are often...

YAL Dividend Payments

EX-Date Dividend Amount
2018-09-06$0.1035
2019-03-07$0.1259
2019-09-05$0.1035
2020-03-12$0.2121