Fortescue Metals Group Limited Reports Unaudited Consolidated Earnings and Production Results for the Half Year Ended December 31, 2014; Provides Production Guidance for the Full Year of Fiscal 2015; Declares Fully Franked Interim Dividend for the Half Year Ended December 31, 2014, Payable on April 7, 2015
February 16, 2015 at 10:18 pm
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Fortescue Metals Group Limited reported unaudited consolidated earnings and production results for the half year ended December 31, 2014. For the period, the company reported operating sales revenue of USD 4,858 million against USD 5,873 million a year ago. Profit before income tax and net finance expenses was USD 746 million against USD 2,814 million a year ago. Profit before income tax was USD 440 million against USD 2,417 million a year ago. Profit is attributable to equity holders of the company was USD 331 million or 10.62 cents per diluted share against USD 1,714 million or 55.01 cents per diluted share a year ago. Net cash inflow from operating activities was USD 905 million against USD 3,646 million a year ago. Payments for property, plant and equipment – Fortescue was USD 436 million against USD 1,354 million a year ago. Payments for property, plant and equipment - joint operations was USD 142 million against USD 2 million a year ago. Net tangible asset backing per ordinary shares was USD 2.43 against USD 2.18 a year ago. Underlying EBITDA was USD 1,440 million against USD 3,220 million a year ago. Revenue was down 17%, reflecting a 53% increase in shipments to 82.7Mt offet by a decrease in iron ore prices.
For the period, the company achieved record shipments of 82.7 million tons, a 53% increase from the prior period. The company mined 86.5 mt of ore, a 29% improvement from the prior period, with a 7% reduction in overburden mined. Ore processed was 75.6 million tons against 53.7 million tons a year ago.
The company maintained its shipping guidance of 155-160m tonnes for the full year of fiscal 2015, reflecting allowance for the second-half wet season.
The Directors of company declared a fully franked interim dividend of 0.03 cents per share for the half year ended December 31, 2014, payable on April 7, 2015. Record date of interim dividend is March 4, 2015.
Fortescue Ltd, formerly Fortescue Metals Group Ltd, is an Australia-based integrated green technology, energy, and metals company. The Company operates through two segments: Metals, and Energy. The Metals segment is engaged in the exploration, development, production, processing, sale and transportation of iron ore, and the exploration for other minerals. The Energy segment is engaged in the development of green electricity, green hydrogen, and green ammonia projects. Through its growth project Iron Bridge and its interest in the Belinga Iron Ore Project in Gabon, it is investing in the growth of its iron ore business. Its integrated operations in the Pilbara include the Chichester, Solomon and Western mining hubs. Its mining infrastructure is connected to the five berth Herb Elliott Port and Judith Street Harbour towage facility in Port Hedland. The Solomon Hub in the Hamersley Ranges is located 60 kilometers (km) north of Tom Price and 120km to the west of the Chichester Hub.
Fortescue Metals Group Limited Reports Unaudited Consolidated Earnings and Production Results for the Half Year Ended December 31, 2014; Provides Production Guidance for the Full Year of Fiscal 2015; Declares Fully Franked Interim Dividend for the Half Year Ended December 31, 2014, Payable on April 7, 2015
FORTESCUE LTD 
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