Hi @Ferginator,
You wrote;
I believe all other Energy revenues have been from WAE.
Correct. Fortescue Energy "revenue from external customers" has come from manufacturing and engineering services revenue.Which is from Fortescue's WAE battery systems business segment.
A four x increase in revenue in one year for Fortescue Energy primarily from Fortescue WAE at this stage.
Expenses:
Research expenditure comprises of FFI research expenditures.
Research expenditure for 2022 - US$354m
Research expenditure for 2022 - US$553m
Page 40 of the Annual Report highlights....
That the US$199 million increase in research expenses from FY22 to FY23 was predominantly related to Fortescue Energy activities which is now comprised of Fortescue Future Industries, Fortescue Hydrogen Systems and Fortescue WAE. Which as I've highlighted previously is divided into the three sub-segments.
There's also
Deferred revenue - Manufacturing and engineering services
FY22 US$25 million
FY23 US$10 million
Manufacturing and engineering services revenue are recognised on a percentage of completion basis.
Tony
Hi @Ferginator,You wrote; I believe all other Energy revenues...
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