Fortescue Ltd (FMG) Q2 2024 Earnings Call

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Replay transcript excerpt

WEBVTT 00:00:01.094 -- 00:00:03.957 Welcome all. It's great to be back with you again. 00:00:03.957 -- 00:00:10.104 And with me today is Mark Hutchinson, Energy CEO and Apple Paget Acting CFO. 00:00:10.104 -- 00:00:13.788 We're joining you from Gabon in Central Africa. 00:00:13.788 -- 00:00:17.872 And it's been a really productive visit spending time with the team, the government and 00:00:17.872 -- 00:00:21.356 a variety of stakeholders around this beautiful country. 00:00:21.356 -- 00:00:25.661 We're out at the Linga site early this week, and I continue to be amazed by the energy 00:00:25.661 -- 00:00:30.980 of the team, the potential of the project and the support we have in country. 00:00:30.980 -- 00:00:35.985 Onto the results. Last month, we presented our quarterly production results, which 00:00:35.985 -- 00:00:40.290 included our second highest first half shipments of 94.6 00:00:40.290 -- 00:00:45.616 million tonnes. We achieved this while standing by our absolute commitment to safety 00:00:45.616 -- 00:00:49.981 and keeping costs low to drive performance and ensure we set the business up for future 00:00:49.981 -- 00:00:51.643 success. 00:00:51.643 -- 00:00:57.490 We achieved a C1 cost of less than $18 per tonne in the half, 00:00:57.490 -- 00:01:02.556 and I promise you we remain laser-focused on maintaining our industry-leading cost 00:01:02.556 -- 00:01:04.279 position. 00:01:04.279 -- 00:01:08.784 That strong operating performance in the first half underpins the outstanding financial 00:01:08.784 -- 00:01:14.191 results we reported today, including underlying EBITDA of $5.9 00:01:14.191 -- 00:01:16.494 billion, up 36%, 00:01:16.494 -- 00:01:20.639 and net profit after tax of $3.3 billion, up 41%. 00:01:20.639 -- 00:01:22.361 Reflecting 00:01:22.361 -- 00...