Fortescue Metals Group’s Full Year Result 24 Aug 20: Execution and higher iron ore prices deliver FMG earnings

FMG’s full year result was broadly in-line with the average of analysts’ expectations. FMG delivered record revenue and underlying EBITDA which paved the way to a record NPAT of US$4.735 billion, together with earnings per share of 154 US cents – an increase of 49%.

Revenue was US$12.8 billion, 29% higher than the prior year, while underlying EBITDA of US$8.37 billion was 38% higher than FY19. FMG generated strong cashflows during the year, with net cash from operating activities increasing by 47% to US$6.4 billion.  FMG will pay a final dividend of A$1.00 per share, fully franked. The ex-dividend date is 31 August 2020, and the dividend will be paid to shareholders on 2 October 2020.

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