Some highlights to take note from Lynas results. Very strong results with record numbers. Hopefully we will also be in this situation not too far into the future.
Record result for 2022, with the company recording $920m in revenue and a net profit after tax of $540.8m.
Favourable market conditions and strong demand for Lynas’ rare earth materials saw sales revenue increase by 88.1% and Net Profit After Tax (NPAT) increase by 244% from the 2021 result. Rare earths prices were sustained at high levels during the second half of the year, and the NdPr market price remained 70% to 80% higher than in the same period last year.
Demand for rare earth materials is accelerating and Lynas is investing in the further development of the Mt Weld resource and beneficiation circuit. This is an essential step to meet accelerating market demand for rare earth materials.
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