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Geo Energy expects to achieve revenue of US$400 mil in 1H22 on the back of rising coal prices

Khairani Afifi Noordin
Khairani Afifi Noordin3/7/2022 06:32 PM GMT+08  • 2 min read
Geo Energy expects to achieve revenue of US$400 mil in 1H22 on the back of rising coal prices
The company is expecting EBITDA close to US$200 million in 1H22.
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Geo Energy Resources expects to achieve revenue of US$400 million in 1H22, 81% higher y-o-y based on the prevailing coal price as well as the M42 Futures Index price.

In a March 7 business update, Geo Energy CEO and executive director Tung Kum Hon said the company is expecting EBITDA close to US$200 million in 1H22, on top of targeting coal production of between 5 million to 6 million tonnes.

The company has an approved work plan and budget production quota of 12 million tonnes for 2022.

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