Fortescue Ltd

XMUN:FVJ

Revenue: First half revenue was $8.4 billion, up 10% year‑on‑year driven by record shipments and higher realized prices.

Shipments: Record first half shipments of 100.2 million tonnes; Iron Bridge has shipped 14 million tonnes at 67% Fe.

Costs: Hematite C1 unit cost was $18.64/tonne for the half (industry‑leading); full‑year C1 guidance $17.50–$18.50/tonne unchanged.

Profit & Cash: Underlying EBITDA $4.5 billion (53% margin), NPAT $1.9 billion, operating cash flow $3.2 billion and free cash flow $1.5 billion.

Capital & Returns: Board declared fully franked interim dividend AUD 0.62/share (65% of NPAT; AUD 1.9 billion returned); cash on hand $4.7 billion and net debt $1.0 billion.

Decarbonization: Heavy rollout of renewables and electrification (Nullagine 133 MW wind, >3,600 solar panels installed/day, $426 million decarb spend in H1) expected to lower structural costs by $2–$4/tonne before 2030.

Growth & M&A: Advancing Alta Copper acquisition and exploration across Peru, Canada, Kazakhstan, Argentina and Gabon; Belinga (Gabon) drilling ongoing.