Fortescue Metals Group

Public consensus   -   Last updated 11/11/22

Reporting currency: USD
Reporting unit: Millions
FY23
CONSENSUS
11/11/22
FY24
CONSENSUS
11/11/22
Operating metrics
Hematite ore mined (m wmt)
215.2
214.5
Hematite ore processed (m wmt)
190.2
188.0
Hematite ore shipped (m wmt)
189.3
187.5
Iron Bridge ore mined (100% basis) (m wmt)
3.0
26.3
Iron Bridge concentrate processed (100% basis) (m wmt)
2.0
18.4
Iron Bridge concentrate shipped (100% basis) (m wmt)
1.1
10.5
Total shipped (Fortescue share) (m wmt)
189.9
179.8
Hematite C1 cost (US$/wmt)
17.88
17.14
Iron Bridge C1 cost (US$/wmt)
75.86
49.09
Consolidated C1 cost (US$/wmt)
18.39
19.45
Hematite realised price (US$/dmt)
84
74
Iron Bridge realised price (US$/dmt)
123
111
Consolidated realised price (US$/dmt)
84
75
62% Fe CFR Platts index (US$/dmt)
103.47
92.27
AUD/USD
0.67
0.69
Income statement summary (US$m)
Iron ore revenue
13,463
12,148
Shipping revenue
1,689
1,719
Other revenue
58
116
Operating sales revenue
15,040
13,869
Cost of sales ex-depreciation & amortisation
(6,218)
(20,992)
Administration expenses
(336)
(300)
Research expenditure (including FFI expenditure)
(493)
(380)
Other income/(expenses)
(192)
(118)
Underlying Ebitda
7,999
(7,800)
Depreciation & Amortisation
(1,590)
(1,636)
Net finance costs
(220)
(215)
Other income/(expenses).
(179)
(204)
Net profit before tax.
6,138
(9,724)
Income tax expense
(1,840)
(1,480)
Net profit after tax
4,298
(11,204)
Underlying net profit after tax
4,272
3,417
Per share metrics
Shares on issue, weighted (m)
3,078
3,080
Basic earnings per share (USc/sh)
139.6
111.1
Basic earnings per share (AUDc/sh)
207.4
160.9
Dividends per share, total (AUDc/sh)
146.4
102.4
Balance sheet and cash flow summary (US$m)
Total debt
5,763
5,298
Cash and cash equivalents
3,845
3,280
Net debt
2,206
2,018
Income tax paid
(2,136)
(1,687)
Net cash inflow from operating activities
5,832
5,187
Dividends paid
(4,029)
(2,781)
Debt proceeds/(repayments)
(212)
(416)
Sustaining and hub development capital expenditure
1,558
1,472
Major projects capital expenditure
1,021
395
FFI capital expenditure
240
310
Other capital expenditure
369
253
Total capital expenditure (including joint operations)
3,157
2,388

Disclaimer

Fortescue Metals Group Ltd (Fortescue) invites registered sell-side analysts that provide research coverage of Fortescue's securities to submit their estimates, in respect of each financial reporting period, to an external web-based tool managed by Vuma Financial Limited (Vuma).

The consensus figures are aggregated, publicly available forecasts collated exclusively by Vuma, but only on the basis of information submitted by those analysts who choose to participate. The consensus figure for a particular item represents the arithmetic mean of all figures for that item submitted to Vuma by analysts. No analyst who has updated and entered their estimate into Vuma has been excluded from the aggregate consensus figures, except for data that contains a manifest error. The figures are current as at the date specified on the Vuma website and are not updated after that date.

The consensus figures reflect the opinions of third party analysts who do not have access to Fortescue’s non-public internal financial information. The consensus figures are not based on Fortescue’s opinions, estimates or forecasts and are compiled and published without comment from, or endorsement or verification by, Fortescue. Fortescue does not endorse, confirm or express a view on the consensus estimates, and Fortescue does not accept any responsibility whatsoever in relation to the information.

The consensus figures are provided for informational purposes only and they are not intended to, nor do they, constitute investment advice or any solicitation to buy, hold or sell securities or other financial instruments. In particular, the consensus figures may be forward-looking and as such are speculative and rely on assumptions and events in the future (some or all of which may not be satisfied or may not occur).