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Champion Iron Limited (ASX:CIA)

ALERT: Price-sensitive ASX Announcement for CIA
Current share price for CIA : $3.960 -1.05 (-20.96%)+
Announcement
Release
28 May 2026 10:32AM
Price at Release
$5.010
Full Release
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Summary
Champion Iron Limited announced its financial and operational results for the fourth quarter of FY2026, ending March 31, 2026. The company reported an 8% increase in production to 3.4 million wmt of high-purity 66.2% Fe concentrate, with quarterly sales of 3.5 million dmt and revenues of $415 million. The EBITDA was reported at $114 million. The company advanced the DRPF project with successful initial production tests and completed the acquisition of Rana Gruber, a Norwegian high-purity iron ore producer, for approximately US$300 million. Despite a 3% year-over-year decrease in revenues and lower net income due to increased finance costs, Champion Iron maintained a strong liquidity position of $812.4 million. The company emphasized its sustainability achievements and outlined future plans for enhancing shareholder returns.
Key Points
  • Champion Iron Limited reported its FY2026 fourth-quarter results, highlighting an 8% increase in production to 3.4 million wmt of high-purity 66.2% Fe concentrate.
  • The company achieved quarterly sales of 3.5 million dmt, generating revenues of $415 million and an EBITDA of $114 million.
  • The DRPF project progressed as planned, with initial production tests successfully completed in March 2026 and commercial production expected by the end of Q2 2026.
  • Champion Iron completed the acquisition of Norwegian high-purity iron ore producer Rana Gruber in April 2026, valued at approximately US$300 million.
  • Financial performance for Q4 FY26 included a decrease in revenues by 3% year-over-year, with a gross average realized selling price of US$120.5/dmt.
  • Net income for the quarter was $23.2 million, down from $65.0 million in the previous quarter, largely due to increased finance costs and lower sales volumes.
  • Champion Iron maintained strong liquidity with $812.4 million available at the end of March 2026.
  • The company highlighted its focus on sustainability, achieving most annual sustainability targets and reporting no major environmental incidents.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.