Key points
- Record production of 4.4Mt, up 83% from FY25
- Revenue increased by 87% to $590M
- Net profit after tax up 128% to $12M
- 1 cent per share fully franked dividend declared
- FY27 production guidance of 4.7Mt to 5.3Mt at C1 cost of $70/t to $80/t
Full summary
FENIX Resources Ltd announced its FY26 full year results, reporting record production of 4.4 million tonnes, an 83% increase from the previous year. The company shipped 4.399 million tonnes across 73 vessels, significantly improving its Total Recordable Injury Frequency Rate (TRIFR) to 4.9, a 47% reduction from the previous year. The financial performance was robust, with revenue up 87% to $590 million, EBITDA up 49% to $80.7 million, and net profit after tax up 128% to $12.3 million. Operating cash flow increased by 33% to $95.9 million, and cash at bank rose to $81 million. The company secured a 30-year Right to Mine Agreement over the 290Mt Weld Range Iron Ore Project, and commissioned the Beebyn-W11 mine, advancing the 3-Year Production Plan. The company also expanded its hedging and forward pricing contracts, including 720,000t iron ore hedged at A$151.22/t through to June 2027. The Board declared a final fully franked dividend of 1 cent per share, totaling approximately $7.7 million.
Guidance
FY27 production guidance of 4.7Mt to 5.3Mt at C1 cost of $70/t to $80/t
Outlook
FY27 and FY28 capital expenditure guidance is approximately $20m for sustaining capital, $40m to $50m for mobile fleet capital, and $30m for potential mining capital and $20m for logistics and port growth capital.