Link: https://links.sgx.com/1.0.0/corporate-announcements/HU6LSBJOYSQLVTFT/8901bebb3d149b32111bcb6deffc01324b462a2e7e0253742e305360b1fa787e

Summary:

• Financial Performance:

  • Sales Volume: Nearly doubled to 6.3 million tonnes (1H2024: 3.2 million tonnes).

  • Revenue: Up 71% to US$289.5 million.

  • Net Profit: US$20.1 million for 1H25 (up 76% from US$11.4m in 1H24, which excludes a one-off gain).

  • Average Selling Price: US$46.26/tonne; ICI4 price guidance for rest of 2025 is ~$48/tonne.

  • Dividend: Interim dividend of 0.1 SG cent/share for 2Q25; total interim dividends paid in 2025 are 0.35 SG cents/share. Dividend policy: payout of at least 30% of attributable profit.

• Operational Highlights:

  • Assets: 2P reserves of 273Mt (SDJ/TBR/TRA/IPCs mines); scalable business model with robust, low-cost coal assets.

  • Customer Base: Mix of domestic and export sales, world-class contractors and partners.

  • Major Project: MBJ infrastructure (hauling road/jetties) 31.3% complete as of 27 July 2025—progress ahead of schedule and targeted for completion by June 2026.

• Strategic Developments:

  • Logistics Expansion: Announced acquisition of a large Indonesian shipping business (54 vessels, 27 tugs/27 barges, 6 more on order/delivery) to secure in-house logistic capacity for coal transshipment.

    • Expected captive market revenue: US$220m–US$280m/year for MBJ, with potential for third-party and non-coal revenue diversification.

    • Acquisition structure: US$23.5m cash (18%), US$18m via receivables (14%), US$86m in new shares (68%), with premium pricing and a 1-year lock-up.

• Outlook:

  • On track to exceed annual coal sales targets (10.5–11.5m tonnes).

  • Positive guidance for continued growth, free cash flow, and supply chain resilience.

  • Ongoing focus on operational excellence, supply chain control, ESG, and group value growth.

Geo Energy posted record volumes, revenue, and profits for 1H2025, paid regular dividends, ramped up capex in mining/logistics integration, and is executing on a strategic acquisition to bolster its end-to-end coal logistics and long-term value.