Overview

• Net profit fell to $3.37 billion for the year to June 30 as a lower average iron ore price outweighed higher volumes, with revenue down 15% to $15.5 billion.
• The annual dividend was reduced by 44% to $0.72 per share, cutting the founders’ combined payout to about $808 million.
• Shipments hit a record 198.4 million tonnes, a 4% increase, while cash costs edged down 1% to $17.99 per tonne.
• Guidance was maintained for exports of 195–205 million tonnes and cash costs of $17.50–$18.50 per tonne in the current year.
• Fortescue recorded a $150 million write-down on stalled green hydrogen projects and signaled tighter near-term spending on its hydrogen ambitions as its shares traded around $12.70.