Australian iron ore miner Fortescue Metals Group has announced its financial results for the financial year 2023-24 ended on June 30.
During the given period, Fortescue’s net profit amounted to US$5.66 billion, rising by 18.1 percent compared to the previous financial year, reflecting the increase in EBITDA, while the company’s sales revenue amounted to US$18.22 billion, up 7.9 percent year on year. Meanwhile, Fortescue’s EBITDA increased by 7.4 percent year on year to US$10.7 billion in the given period.
In the given financial year, Fortescue mined 216.9 million wet mt of iron ore, down by 1.1 percent, while it shipped 191.6 million wmt of iron ore during the financial year, 0.2 percent lower than in the previous financial year.
The company’s iron ore shipments are predicted to be in the range of 190-200 million mt in the financial year 2024-25.