Australian iron ore miner Fortescue Metals Group has announced its financial results for the first half ended December 31 of the financial year 2023-24.
In the first half, Fortescue’s net profit amounted to US$3.33 billion, rising by 41.0 percent compared to the same period of the previous financial year, while the company’s sales revenue amounted to US$9.51 billion, up 21.0 percent year on year due to higher iron ore prices. Meanwhile, Fortescue’s EBITDA moved up by 36.0 percent year on year to US$5.91 billion in the given period.
In the given period, Fortescue mined 105.2 million wmt of iron ore, down by eight percent compared to the same period of the previous financial year, while it shipped 94.5 million wmt of iron ore, down two percent year on year. According to the company, its iron ore shipments were the second-highest first half shipments in its history.
The company predicts its iron ore shipments will be in the range of 192-197 million mt in the financial year 2023-24.
