Sandfire Resources announced FY2022 results; Notes a significant drop in EPS

Sandfire Resources Limited (ASX: SFR) has released its FY2022 results for the period ended 30 June 2022. The Company achieved record sales of AU$922.7 million compared to AU$609.0 million in the previous corresponding period. The Company completed its portfolio transformation with the landmark MATSA acquisition, and its solid operational performance fuelled its revenue to grow by 52%.

Financial Highlights:

• Cash flow from operating activities increased from AU$347.5 million in FY2021 to AU$391.2 million in FY2022.
• Group EBITDA increased from AU$337.0 million in FY2021 to AU$447.3 million in FY2022.
• Group profit before net finance and income tax expense stood at AU$190.6 million. It was AU$202.4 million in FY2021.
• Basic EPS was 32.05 cps, down from 72.14 cps in FY2021. The EPS was impacted by a 5-month ownership period and a 2021 share issue relating to the MATSA acquisition.
• By the end of FY2022, the Company had net cash of AU$463.1 million and net debt of AU$324.7 million.

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