Fortescue (ASX: FMG) Revises Capex Guidance, Forecasts Steady Iron Ore Shipments for FY25

Tue 04 Mar 25, 01:08 AM | Team Kalkine

Image source: Shutterstock

Highlights

FMG’s sales revenue fell 19.7% YoY to USD 7.64 billion in 1HFY25 and underlying EBITDA dropped 38.4% YoY to USD 3.64 billion due to rising costs.

Recently, Usha Rao-Monari acquired 269 shares for AUD 4,999.12.

FMG declared a dividend of AUD 0.50 per share, payable on 27 March 2025.

Iron ore shipment of 190–200mn tonnes expected in FY25, with 5–9mn tonnes from Iron Bridge.

Fortescue Limited (ASX:FMG) is an ASX-listed exploration and production company that focuses on copper, gold, lithium, and rare earth elements. In the first half of the financial year 2025 (1HFY25), FMG’s operating sales revenue fell by 19.7% YoY to USD 7.64 billion, primarily due to lower price realisations and a decline in the Platts 62% CFR Index, despite steady demand for Hematite, which generated an average value of USD 85 per dry metric tonne (dmt).

The company’s underlying EBITDA contracted by 38.4% YoY in 1HFY25 to USD 3.64 billion, as rising production costs pushed C1 costs to USD 19.17 per wet metric tonne (wmt). However, total non-current assets increased by 2.25% YoY to USD 23.35 billion.

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