Dalrymple Bay Infrastructure (ASX:DBI) Reports H1-26 Growth and Lifts Distribution Outlook: What the Coal Terminal Owner Reported

Sonal Goyal

06 November 2026 06:24 PM AEDT

Dalrymple Bay Infrastructure (ASX:DBI) Reports H1-26 Growth and Lifts Distribution Outlook: What the Coal Terminal Owner Reported

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Key Highlights

Dalrymple Bay Infrastructure (ASX:DBI) closed at $5.60 on 6 November 2026, down 0.18%, while the S&P/ASX 200 Industrials index fell about 0.02%.
H1-26 TIC Revenue rose 3.6% to $156.5 million and EBITDA rose 4.7% to $150.5 million.
Distribution guidance for FY27 totals 28.62 cents per security, an 8.5% increase on the prior year.

Dalrymple Bay Infrastructure Limited (ASX:DBI) closed at $5.60 on 6 November 2026, down 0.18% for the trading session. The S&P/ASX 200 Industrials index (XNJ) closed at 8,421.00, down 1.80 points or about 0.02% over the same session. The S&P/ASX 200 finished at 9,020.80, up 0.49%, and the All Ordinaries closed at 9,144.70, up 0.66%. DBI owns and operates the Dalrymple Bay Coal Terminal in Queensland, which exports coal through a terminal infrastructure charge arrangement.

Latest Developments

H1-26 Half-Year Results (24 August 2026)

Dalrymple Bay Infrastructure released its half-year results for the six months ended 30 June 2026 on 24 August 2026. Terminal Infrastructure Charge revenue rose 3.6% to $156.5 million, and EBITDA increased 4.7% to $150.5 million. Statutory net profit after tax rose 14.2% to $49.2 million, and funds from operations increased 10.2% to $92.7 million.

Net Debt was $2,012.3 million at 30 June 2026, up 1.9% since 31 December 2025. The company issued a A$350 million five-year fixed bond under its new Australian Medium-Term Note programme. The release reaffirmed an Investment grade balance sheet.

Distribution and Capital Projects (24 August 2026)

The company announced a second-quarter distribution of 6.75 cents per security, payable on 17 September 2026. Distribution guidance for the year starting 1 July 2026 totals 28.62 cents per security, paid quarterly, which the release said reflects an 8.5% increase on the prior year. DBI said it continues to target distribution growth of 3% to 7% per annum over the foreseeable future, subject to Business developments and market conditions.

Committed non-expansion Capital Expenditure projects totalled $370.6 million, including the Shiploader 1A and Reclaimer 4 projects, which the company said remain on schedule and budget. Most of this expenditure is expected to be added to the asset base by 1 July 2027.

About the Company

Dalrymple Bay Infrastructure owns and operates the Dalrymple Bay Coal Terminal near Mackay in Queensland, one of the world's largest coal export terminals. The company earns revenue through the Terminal Infrastructure Charge, a regulated charge paid by users of the terminal based on the Volume of coal they export.

The company's capital program is directed at maintaining and expanding terminal capacity through its non-expansion capital expenditure, which is added to its regulated asset base over time.

Sector Context

Coal terminal infrastructure is tied to coal export volumes and the regulatory framework for pricing and asset recovery. Demand for seaborne thermal and metallurgical coal, port access arrangements and shipping schedules all influence throughput. Regulatory decisions on the asset base and returns shape the revenue outlook for infrastructure owners.

Infrastructure Assets of this kind typically generate stable, long-dated cash flows, and the company's distribution policy reflects that structure.

Risks to Watch

Throughput and revenue depend on coal export volumes, which can be affected by global Commodity prices, mine production and shipping conditions. The release noted that committed capital projects remain subject to delivery timing.

Interest rate movements can affect financing costs for the company's debt, and regulatory outcomes can change the revenue base over time.

Catalysts on Watch

The next scheduled item is the payment of the Q2-26 distribution on 17 September 2026. The company expects a material uplift in TIC revenue from 1 July 2027, once the majority of committed capital projects are added to the asset base. Progress on Shiploader 1A and Reclaimer 4 will be relevant to that timetable.

Closing Remarks

Dalrymple Bay Infrastructure reported growth in revenue, Earnings and funds from operations for the half-year, and set out distribution guidance for the year ahead. Its shares closed at $5.60 on 6 November 2026, down 0.18%. The timing of its capital projects will shape its future revenue profile.

FAQs

Q: What was DBI's share price on 6 November 2026?

A: Dalrymple Bay Infrastructure (ASX:DBI) closed at $5.60 on 6 November 2026, down 0.18% for the trading session.

Q: What were DBI's H1-26 results?

A: TIC revenue rose 3.6% to $156.5 million, EBITDA rose 4.7% to $150.5 million, and statutory NPAT rose 14.2% to $49.2 million.

Q: What distribution guidance did DBI give?

A: Guidance for the year commencing 1 July 2026 totals 28.62 cents per security, an 8.5% increase on the prior year.

Q: When will the new capital projects add to revenue?

A: The company said the majority of committed projects are expected to be added to the asset base by 1 July 2027, providing a material uplift in TIC revenue from that date.

Q: What does DBI own?

A: DBI owns and operates the Dalrymple Bay Coal Terminal in Queensland.

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