Fortescue Metals Group

Public consensus   -   Last updated 21/05/21

Contributors 11

  • Bell Potter
  • BMO Capital Markets
  • Citi
  • Credit Suisse
  • Goldman Sachs Australia
  • Macquarie
  • Morgan Stanley
  • Morgans
  • RBC Capital Markets
  • Renaissance BJM
  • UBS
Reporting currency: USD
Reporting unit: Millions
 
NO. OF
FORECASTS
FY22
CONSENSUS
21/05/21
FY22
MIN
FY22
MAX
Operating metrics
Ore mined (m wmt)
8
206.6
197.8
226.6
Ore processed (m wmt)
10
183.1
177.5
215.6
Ore shipped (m wmt)
11
174.3
117.3
184.0
C1 costs (US$/wmt)
11
14.25
13.63
15.07
Realised price (US$/dmt)
11
100.25
84.60
131.86
62% Fe CFR Platts index (US$/dmt)
11
117.95
102.50
153.75
AUD/USD
11
0.76
0.73
0.79
Income statement summary (US$m)
Iron ore revenue
10
15,409
12,299
19,804
Shipping revenue
8
1,445
897
1,795
Other revenue
4
93
40
246
Operating sales revenue
10
16,602
13,962
21,599
Cost of sales ex-depreciation & amortisation
10
(5,263)
(5,814)
(4,997)
Administration expenses
9
(174)
(224)
(100)
Other income/(expenses)
3
51
(40)
222
Underlying Ebitda
11
10,993
7,504
15,635
Depreciation & Amortisation
11
(1,456)
(1,603)
(1,318)
Net finance costs
11
(157)
(407)
36
Other income/(expenses).
5
(107)
(150)
(81)
Net profit before tax.
11
9,653
6,911
14,285
Income tax expense
11
(2,869)
(4,285)
(2,073)
Net profit after tax
11
6,784
4,837
10,000
Underlying net profit after tax
11
6,784
4,837
9,999
Per share metrics
Shares on issue, weighted (m)
11
3,079
3,079
3,079
Basic earnings per share (USc/sh)
11
220.3
157.1
324.8
Basic earnings per share (AUDc/sh)
10
296.8
206.1
421.2
Dividends per share, total (AUDc/sh)
11
226.1
164.9
337.0
Balance sheet and cash flow summary (US$m)
Total debt
10
4,006
2,893
4,334
Cash and cash equivalents
10
3,782
1,791
5,013
Net debt
10
225
(1,210)
2,020
Income tax paid
11
(3,603)
(4,716)
(2,702)
Net cash inflow from operating activities
11
7,804
5,144
11,055
Dividends paid
11
(7,116)
(10,166)
(4,729)
Debt proceeds/(repayments)
7
(170)
(1,111)
752
Sustaining capital expenditure
10
863
720
1,020
Other capital expenditure
10
1,285
1,000
1,752
Total capital expenditure (including joint operations)
10
2,148
1,819
2,746

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).