Invest Daily Pro
  • Economy
  • Investing
No Result
View All Result
  • Economy
  • Investing
No Result
View All Result
Invest Daily Pro
No Result
View All Result
Home Investing

2024 Annual Results – Capacity ramp-up, economies of scale and market conditions combine to deliver record margins

by Invest Daily Pro
February 28, 2025
in Investing
0
2024 Annual Results – Capacity ramp-up, economies of scale and market conditions combine to deliver record margins
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

Metro Mining Limited (ASX: MMI) (Metro or the Company) is pleased to announce the release of its annual results for 2024, in which the Ikamba Offshore Floating Terminal (OFT) and port infrastructure upgrades were commissioned.

  • 24% increase in shipped production to 5.7 million WMT
  • 30% increase in revenue to $307 million
  • 100% increase in Underlying EBITDA to $37 million
  • 35% reduction in net debt1
  • Production and shipment guidance for 2025 set at 6.5 to 7.0 million WMT

Following commissioning in quarter 2, in the final quarter of the year, the Bauxite Hills Mine demonstrated its capacity to consistently operate at the expansion project target rate of 7 million wet metric tonnes (WMT) per annum, culminating in total shipped production of 5.7 million WMT, a 24% year-on-year increase.

Record shipments and a strong pricing environment contributed to a 30% year-on-year revenue increase to $307 million. Site EBITDA margins were $13.8 /WMT and $17.4 /WMT in Q3 and Q4, respectively resulting in a 100% increase in underlying group earnings (EBITDA) to $37 million. 100% of the junior debt of $39 million was paid down, resulting in a 35% reduction in net debt to $44 million including $31 million of cash at year end.

The $36 million expansion is complete with the full flow sheet in place including new haulage fleet, upgraded loading capacity at pit and port, new wobbler screening circuit, 2 additional tugs and the OFT. Following the pause for major maintenance in the wet season, Metro expects to recommence operations in the second half of March with shipment guidance of 6.5 to 7.0 million WMT for 2025.

Simon Wensley, CEO & MD of Metro Mining said:“Metro has turned in a combination of record results for 2024, especially in the second half, as we ramped up the expansion. I expect to see further economies of scale flowing through in 2025 as we lift production by a further 20%, with continued strong traded bauxite demand flowing through to improved margins”.

Click here for the full ASX Release

This post appeared first on investingnews.com

ShareTweetPin

Related Posts

Top 5 Canadian Mining Stocks This Week: Adyton Sparkles with 97 Percent Gain
Investing

Top 5 Canadian Mining Stocks This Week: Adyton Sparkles with 97 Percent Gain

May 31, 2025
NVIDIA Rallies After Strong Q1, AI Demand Outshines China Export Hit
Investing

NVIDIA Rallies After Strong Q1, AI Demand Outshines China Export Hit

May 31, 2025
CDX May Investor Presentation
Investing

CDX May Investor Presentation

May 30, 2025
Trump’s Nuclear Revival Plan Boosts Uranium Prices, Sends US Miners Soaring
Investing

Trump’s Nuclear Revival Plan Boosts Uranium Prices, Sends US Miners Soaring

May 30, 2025
Fintech Firm Velocity Raises US$10 Million for Enterprise Stablecoin Infrastructure
Investing

Fintech Firm Velocity Raises US$10 Million for Enterprise Stablecoin Infrastructure

May 29, 2025
Platinum Price Breaks Out as Chinese Demand and Global Shortfalls Ignite Rally
Investing

Platinum Price Breaks Out as Chinese Demand and Global Shortfalls Ignite Rally

May 29, 2025
Next Post
Bristol Myers Squibb’s Rising SCTR Score: Seize the Moment to Invest?

Bristol Myers Squibb’s Rising SCTR Score: Seize the Moment to Invest?

Recommended

How the stoic heroic puts up with the world

How the stoic heroic puts up with the world

October 22, 2024
Sir Jim Ratcliffe’s Belstaff racks up £18m loss as auditors warn of uncertain future

Sir Jim Ratcliffe’s Belstaff racks up £18m loss as auditors warn of uncertain future

November 25, 2024
Business confidence wanes amid fears of energy tax hikes

Business confidence wanes amid fears of energy tax hikes

September 3, 2024
How Klook is leveraging content creators for growth

How Klook is leveraging content creators for growth

September 29, 2024
Set up a company in Estonia: Europe’s Most Innovative Hub for Business Expansion

Set up a company in Estonia: Europe’s Most Innovative Hub for Business Expansion

October 30, 2024
Business Development: Dark Art or Business Essential?

Business Development: Dark Art or Business Essential?

August 20, 2024

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 InvestDailyPro. All Rights Reserved.

    Disclaimer: InvestDailyPro.com, its managers, its employees, and assigns (collectively InvestDailyPro ) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
    The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    No Result
    View All Result
    • About us
    • Contact us
    • Home
    • Privacy Policy
    • Suspicious engagement
    • Terms & Conditions
    • Terms & Conditions
    • Thank you

    Copyright © 2024 investdailypro.com | All Rights Reserved