Ann: FY25 Half Year Financial Report and Appendix 4D, page-4

First 4 Last

Share
Profile

Follow
Sharksnulla

82 Posts.

26

18/02/25

20:01

Post #: 77915007
Share
Originally posted by Sharksnulla: ↑

The financial results for Mineral Resources Limited (MinRes) for the half-year ended 31 December 2024 show mixed performance. Here’s a breakdown of good and bad aspects of the results:
Good Aspects:
✅ Mining Services Performance:
Record underlying EBITDA of $379M, up 49% from 1H24.
Stable production volumes (136M wet metric tonnes).
New contracts and renewals indicate strong operational demand.
✅ Onslow Iron Progress:
Project is ramping up and is now operating cash flow positive.
January shipments annualized at 18Mtpa, heading towards nameplate capacity of 35Mtpa.
Investment in infrastructure upgrades to reduce downtime and maintenance costs.
✅ Strong Liquidity Position:
$1,520M available liquidity (including $720M cash on hand).
Received $1.1B upfront payment for Onslow Iron haul road sale.
$780M cash consideration from Hancock Prospecting transaction.
✅ Strategic Transactions:
Sale of a 49% interest in Onslow Iron haul road to Morgan Stanley Infrastructure Partners.
Energy sector expansion through a deal with Hancock worth up to $1.13B.
Bad Aspects:
❌ Revenue Decline:
$2,290M, down 9% from $2,515M in 1H24.
❌ Profit Collapse & Huge Net Loss:
Underlying NPAT:($196M) vs. $196M in 1H24.
Statutory NPAT:($807M) (loss), down 252% from $530M profit in 1H24.
Driven by $352M impairment charges (mainly Bald Hill) and $232M foreign currency losses.
❌ Lithium Business Struggles:
Bald Hill placed into care & maintenance due to low prices.
Lithium price drop: from US$1,719/dmt (1H24) to US$820/dmt (1H25).
Lower production in Mt Marion and Wodgina.
❌ Debt Increased:
Net debt rose to $5,084M (from $4,428M).
Capital expenditure remains high ($1,098M in 1H25).
❌ Dividend Suspension:
No interim dividend due to financial constraints.
Last year’s interim dividend was 20c per share.
Overall Verdict
For Investors: This is a bad result due to the large net loss, revenue decline, debt increase, and no dividends.
For Operations: Mining services is performing well, and Onslow Iron could be a long-term success if ramp-up continues as planned.
For Future Outlook: The company is prioritizing balance sheet stability and strategic investments, so if commodity prices recover, MinRes could bounce back.

Expand

chat gpt
MIN Price at posting: $30.50 Sentiment: Buy Disclosure: Not Held
8 Upvote

0 Great analysis

Reply

Top Stories

Listen: HotCopper Wire Podcast 013 - They changed the IPO rules (and that's a good thing)

BBT

'Clearly superior': Betr doesn't want to accept PointsBet picking Mixi instead

ASM

'Encouraging' signs as ASM puts cash-saving options to test at Dubbo drill site

ASX Market Close: Index treads water as Energy stocks surge | June 16, 2025

ASX Market Open: Hopes turn on Israel-Iran attacks barely rattling crude price | June 17, 2025

There are more pages in this discussion • 133 more messages in this thread...

First 4 Last

Add to My Watchlist

What is My Watchlist?

A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.

(20min delay)
Last $23.76		Change 0.310(1.32%)		Mkt cap ! $4.659B

Open	High	Low	Value	Volume
$23.15	$23.77	$22.95	$12.85M	551.0K

Buyers (Bids)

No.	Vol.	Price($)
1	86	$23.73

Sellers (Offers)

Price($)	Vol.	No.
$23.76	3513	9

View Market Depth

No.	Vol.	Price($)
3	301	23.680
5	848	23.670
4	938	23.660
4	931	23.650
5	2064	23.640

Price($)	Vol.	No.
23.710	57	1
23.720	861	5
23.730	972	5
23.740	968	4
23.750	2111	6

Last trade - 10.50am 17/06/2025 (20 minute delay)

MIN (ASX) Chart

Ann: FY25 Half Year Financial Report and Appendix 4D, page-4

Listen: HotCopper Wire Podcast 013 - They changed the IPO rules (and that's a good thing)

'Clearly superior': Betr doesn't want to accept PointsBet picking Mixi instead

'Encouraging' signs as ASM puts cash-saving options to test at Dubbo drill site

ASX Market Close: Index treads water as Energy stocks surge | June 16, 2025

ASX Market Open: Hopes turn on Israel-Iran attacks barely rattling crude price | June 17, 2025

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News

Ann: FY25 Half Year Financial Report and Appendix 4D, page-4

Top Stories

Listen: HotCopper Wire Podcast 013 - They changed the IPO rules (and that's a good thing)

'Clearly superior': Betr doesn't want to accept PointsBet picking Mixi instead

'Encouraging' signs as ASM puts cash-saving options to test at Dubbo drill site

ASX Market Close: Index treads water as Energy stocks surge | June 16, 2025

ASX Market Open: Hopes turn on Israel-Iran attacks barely rattling crude price | June 17, 2025

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News