Fortescue Metals Group

Public consensus   -   Last updated 23/11/20

Contributors 10

  • Bell Potter
  • Citi
  • Credit Suisse
  • Evans and Partners
  • Macquarie
  • Morgan Stanley
  • Morgans
  • RBC Capital Markets
  • Renaissance BJM
  • UBS
Reporting currency: USD
Reporting unit: Millions
 
NO. OF
FORECASTS
H1 FY21
CONSENSUS
23/11/20
H1 FY21
MIN
H1 FY21
MAX
Operating metrics
Ore mined (m wmt)
8
110.2
105.5
113.4
Ore processed (m wmt)
8
91.5
89.5
94.3
Ore shipped (m wmt)
9
89.8
87.6
92.6
C1 costs (US$/wmt)
8
13.01
12.55
13.70
Realised price (US$/dmt)
9
94.82
68.21
104.22
62% Fe CFR Platts index (US$/dmt)
9
109.20
83.81
117.99
AUD/USD
9
0.72
0.70
0.73
Income statement summary (US$m)
Iron ore revenue
9
7,523
4,963
8,561
Shipping revenue
6
655
502
743
Other revenue
3
80
22
130
Operating sales revenue
9
7,986
5,465
8,829
Cost of sales ex-depreciation & amortisation
9
(2,446)
(2,719)
(2,203)
Administration expenses
8
(55)
(62)
(40)
Other income/(expenses)
4
10
(20)
61
Underlying Ebitda
9
5,479
3,217
6,265
Depreciation & Amortisation
10
(718)
(810)
(672)
Net finance costs
10
(80)
(126)
(37)
Other income/(expenses).
5
(40)
(62)
(18)
Net profit before tax.
10
4,679
2,407
5,381
Income tax expense
10
(1,392)
(1,614)
(722)
Net profit after tax
10
3,287
1,685
3,767
Underlying net profit after tax
10
3,291
1,685
3,767
Per share metrics
Shares on issue, weighted (m)
9
3,084
3,079
3,114
Basic earnings per share (USc/sh)
9
105.9
54.1
122.3
Basic earnings per share (AUDc/sh)
8
147.1
75.2
170.5
Dividends per share, total (AUDc/sh)
9
99.1
38.9
125.0
Balance sheet and cash flow summary (US$m)
Total debt
9
4,231
2,731
5,113
Cash and cash equivalents
9
3,911
3,172
5,324
Net debt
9
320
(715)
1,250
Income tax paid
9
(1,415)
(2,085)
(984)
Net cash inflow from operating activities
9
3,971
2,349
4,854
Dividends paid
9
(2,230)
(3,090)
(2,023)
Debt proceeds/(repayments)
8
(968)
(2,382)
(15)
Sustaining capital expenditure
8
444
366
506
Other capital expenditure
8
1,197
1,071
1,363
Total capital expenditure (including joint operations)
8
1,641
1,437
1,776

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).