Australian iron ore miner Fortescue Metals Group has announced its financial results for the first half ended December 31 of the financial year 2024-25.
In the first half, Fortescue’s net profit amounted to US$1.55 billion, dropping by 53.0 percent compared to the same period of the previous financial year, while its sales revenue amounted to US$7.64 billion, down 20.0 percent year on year. Meanwhile, Fortescue’s EBITDA in the given period went down by 38.0 percent year on year to US$3.64 billion.
In the given period, the company mined 119.1 million wet metric tons (wmt) of iron ore, up by 13.0 percent compared to the same period of the previous financial year, while it shipped 97.1 million wmt of iron ore, rising by three percent year on year. According to Fortescue, its iron ore shipments were the highest first half shipments in its history.
The company’s iron ore shipment guidance for the financial year 2024-25 stands at 190-200 million mt, including 5-9 million mt from Iron Bridge.