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研報掘金丨信達證券:維持兗礦能源“買入”評級,25年兗煤澳大利亞有望貢獻約23億元利潤
格隆匯 02-24 15:43

信達證券日前研報指出,兗礦能源(600188.SH)海外核心子公司兗煤澳大利亞2024年實現煤炭綜合平均售價176澳元/噸,同比下降24%。動力煤方面, 2024年實現銷售均價160澳元/噸,同比下降24%。冶金煤方面, 2024年實現銷售均價276澳元/噸,同比下降23%。2024年,澳大利亞煤炭供給呈恢復態勢,價格維持相對穩定。2024年兗煤澳大利亞實現商品煤權益產量3690萬噸,同比增加10%;商品煤銷量3770萬噸,同比增加14%。展望2025年Q1,由於開採計劃排期,公司預計產量可能較低。2025年,公司權益商品煤產量指引為3500-3900萬噸之間,仍然維持2024年產量指引水平。2025年兗煤澳大利亞有望實現淨利潤8.1億澳元,有望為兗礦能源帶來盈利貢獻約23億元人民幣。維持“買入”評級。

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