AUS
NZ
UK
CA
USA
IND
Highlights
- Champion Iron is an ASX-listed iron ore exploration and development company
- In FY24, CIA’s revenue increased by 9% YoY, while net profit jumped 17% YoY
- Investissement Quebec has the highest stake in the firm with a shareholding of around 8.40%
Champion Iron Limited (ASX:CIA) is an Australia-based iron ore exploration development organisation. The company operates the Bloom Lake Mining Complex in Québec.
In the financial year 2024 (FY24), ended 31 March 2024, the company reported 9% YoY rise in its revenue to CAD 1,524.29 million. Meanwhile, in FY24, EBITDA jumped 12% YoY to CAD 552.55 million and net profit grew by 17% YoY to CAD 234.19 million.
During the reported period, earnings increased due to higher sales of iron ore concentrate, weakness in Canadian dollar compared to the previous corresponding period and decreased freight and other costs.
Top 10 shareholders of CIA
The top 10 shareholders of CIA have around 37.65% of the shareholding. Investissement Quebec has the highest stake in the firm with a shareholding of around 8.40%.
Outlook
The company has multiple growth projects in its pipeline, with the focus on de-risking its portfolio for the green steel supply chain.
Moreover, the company is upgrading half of Bloom Lake’s nameplate capacity to up to 69% Fe from 66.2% Fe.
In the second half of FY25, CIA expects to commission its project, subject to conclusion of construction milestones, anticipated in the near term.
Share performance of CIA
CIA shares closed 0.61% higher at AUD 6.55 apiece on 14 June 2024. In the last one year, CIA’s share price has increased by 3.64%, while in the last three months, it has declined by almost 8.26%.
The 52-week high of CIA is AUD 8.75, recorded on 4 January 2024, and the 52-week low is AUD 5.165, recorded on 17 August 2023.
CIA Daily Technical Chart, Source: EODHD/Others
Note 1: Past performance is neither an Indicator nor a guarantee of future performance.
Note 2: The reference date for all price data, and currency, is 14 June 2024. The reference data in this report has been partly sourced from EODHD/Others.
Disclaimer
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