Investor Presentaiton
For personal use only
Debt and Distributions
Annual Net Debt* and Gearing Ratio**
(A$ Million) | (%)
■Net debt, A$ mn
◇ Gearing ratio, %
5,000
4,761
4,516
78%
4,500
4,000
3,500
3,093
3,000
47%
2,500
2,000
1,500
1,000
500
3,568
2,536
41%
35%
29%
2016
2017
2018
2019
2020
Debt and gearing levels now include
Watagan components that were previously
held off-balance sheet.
A US$1.275 billion debt facility that had
repayments due in 2020 and 2021 was
replaced mid-year.
$924 million was returned to shareholders
over the past two years. The decision not to
pay a dividend for 2020 was prudent given
coal markets and coal prices.
Financial flexibility utilised in response to lower coal prices
* Net debt does not include debt and earnings associated with Watagan arrangements between 2016 and 2019.
17
**
Gearing calculated as the ratio of Net Debt to Net Debt plus Equity
YANCOAL
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