New data Australian metals miner Fortescue Metals has reported positive financial results for the first half of financial year 2024.
“Iron ore shipments of 94.6 million tonnes (Mt) for the half year ended 31 December 2023 (H1 FY24) were the second highest first half shipments in the Company’s history,” the business said in a statement. “Underlying EBITDA of US$5.9 billion was 36 per cent higher than H1 FY23, with an increased Underlying EBITDA margin of 62 per cent.”
Dino Otranto, the CEO of Fortescue Metals, commented that his company’s “performance in the first half of FY24 has been excellent, with the team achieving our second highest first half shipments while maintaining our strong focus on safety and keeping our costs low. This contributed to outstanding financial results, with EBITDA of US$5.9 billion and net profit after tax of US$3.3 billion.”