• Record half year iron ore shipments of 97.1Mt
• Net profit after tax of US$1.6bn
• Hematite C1 cost of US$19.17/wmt
• Strong balance sheet with US$2.0bn net debt

Fortescue Ltd has delivered an outstanding performance in the first half of FY25, highlighted by record iron ore shipments of 97.1Mt, net profit after tax of US$1.6bn, and a hematite C1 cost of US$19.17/wmt. The company's safety performance remained a key priority, with a TRIFR of 1.0. Fortescue's balance sheet remained strong, with US$2.0bn in net debt and a dividend payout ratio of 65% of net profit after tax. The company provided guidance for FY25, including total iron ore shipments of 190-200Mt, hematite C1 costs of US$18.50-US$19.75/wmt, and Metals capital expenditure of US$3.5-US$3.8bn. Fortescue also made progress on its decarbonisation strategy, with the Iron Bridge magnetite concentrate project achieving 5Mt of shipments and the Green Metal project under construction, targeting first production in 2025. The company continues to focus on exploration, with activities across the Pilbara, Australia, and internationally. Fortescue's commitment to its First Nations partners and the local community remains strong, with over A$6.5bn in contracts awarded to First Nations businesses since 2011. The company's decarbonisation efforts are also progressing, with a costed plan to eliminate fossil fuels and a target of real zero Scope 1 and 2 emissions by 2030.

Total iron ore shipments of 190-200Mt, hematite C1 costs of US$18.50-US$19.75/wmt, Metals capital expenditure of US$3.5-US$3.8bn, and Iron Bridge Concentrate shipments (100% basis) of 5-9Mt.