Lynas Rare Earths Limited announced its FY22 results; NPAT increased 244%

Lynas Rare Earths Limited (ASX: LYC) announced its FY22 results for the period ended 30 June 2022:

• In FY22, the company reported a net profit after tax of AU$540.8 million, a 244% increase from the previous corresponding period.
• It has reported its revenue of 920.0 million, which increased 88% from PCP.
• It has delivered an EBITDA of AU$601.2 million, an increase from AU$235.3 million in FY21.
• During FY22, the company received a US$120 million agreement from the U.S. Department of Defense to construct a commercial Heavy Rare Earths separation facility in the United States.
• During FY22, Lynas Rare Earth advanced the construction work at the Kalgoorlie Rare Earths project. The company has received all the required approval for the Kalgoorlie project, all the equipment was ordered, and construction works at the end of FY2022 were over 40% complete.

Customer Notice:

Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.

Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au