Proactive Investors - Run By Investors For Investors

Atlas Iron delivers FY17 revenues of $871.1M as turnaround gathers pace

Atlast sold each tonne of iron ore for $61 in FY17, up from $55 in FY16.
Atlas Iron delivers FY17 revenues of $871.1M as turnaround gathers pace
The company has demonstrated its ability to generate strong cash flow

Atlas Iron Ltd (ASX:AGO) is starting to build some momentum, with financial year 2017 results highlighting growing revenue, and importantly reducing debt.

The full year results have revenue up 11% to $871.1 million compared to the previous year, helped by a rising iron ore price.

Net operating cash flow jumped 394.5% to $153.8 million.

The debt reduction strategy continues, with the Term Loan B down 43% to $103 million.

Iron ore shipments fell 0.7% to 14.4 million tonnes, as additional production at Mt Webber replaced product from Wodgina which closed.

The C1 cash cost increased 2.9% to $35 per tonne, which Atlas said increased due to increased haulage costs from Mt Webber.


- Underlying cash gross margin up 56% to $152.7 million;
- Underlying EBITDA up 56% to $116.3 million
- Underlying profit increased to $88.5 million (2016 ($57.7 million)); and
- Statutory Profit increased to $207 million (2016: ($159 million)).

View full AGO profile View Profile

Atlas Iron Ltd Timeline

Related Articles

November 20 2018
Strategic Minerals has a carefully crafted portfolio of projects in New Mexico, the UK and Australia
copper tubes
May 30 2018
The latest economic study at Parys Mountain has delivered some encouraging numbers against a backdrop of rising base metals prices
September 05 2018
Currently, the parcel of land is owned by the government, the company said in a regulatory release

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use