Deterra Royalties
DRR.ASXMaterials
The operation of a royalty business model involving the management and acquisition of a portfolio of royalties across most bulk commodities, base and precious metals, battery minerals and energy.
Market Data
$4.330
-0.0%$2.3B
13.0x
$0.338
5.87%
+0.0%
Latest Earnings
Financial Results for the Full-Year Ended 30 June 2025
19 August 2025
Deterra Royalties delivered strong FY25 results with revenue of $263.4M (+10% YoY) and underlying EBITDA of $250.1M (+10% YoY) at a robust 95% margin, driven by record Mining Area C production despite lower iron ore prices, plus contributions from newly acquired Trident assets. The company declared a fully franked final dividend of 13.0 cents per share (total FY25 dividend 22.0 cents, 75% payout ratio) and established a forward dividend policy targeting 75% of NPAT, supported by a strengthened balance sheet with net debt of $271M and 10% gearing. Key points: Revenue grew 10% to $263.4M with underlying EBITDA up 10% to $250.1M, maintaining strong 95% EBITDA margin despite lower iron ore pricing; Mining Area C achieved record production of 140.1M wet metric tonnes (+12.5% YoY), delivering $20M capacity payment with South Flank exceeding nameplate capacity in first post-ramp year; Trident acquisition successfully integrated, contributing $22.6M revenue in 10-month ownership period with gold offtakes generating $21.5M net realised margin on 281.4koz
Recent Announcements
Becoming a substantial holder
Aware Super Pty Ltd as trustee of Aware Super became a substantial holder (5.01%).
Becoming a substantial holder
State Street Corporation became a substantial holder (5.16%).
Ceasing to be a substantial holder
State Street Corporation ceased to be a substantial holder.
Becoming a substantial holder
State Street Corporation became a substantial holder (5.00%).
Ceasing to be a substantial holder
State Street Corporation ceased to be a substantial holder.
Ceasing to be a substantial holder
Aware Super Pty Ltd as Trustee of Aware Super ceased to be a substantial holder.
Becoming a substantial holder
State Street Corporation became a substantial holder (5.01%).
Ceasing to be a substantial holder
State Street Corporation ceased to be a substantial holder.
Half Year Results Presentation
Deterra Royalties delivered record first half results with NPAT surging 36% to $87M driven by strong MAC iron ore volumes and successful disposal of precious metal assets. The company maintained strong cash generation and balance sheet position while increasing the dividend to 12.4 cents fully franked. Asset sales at attractive returns and debt reduction strengthen the company's position for future growth. Key points: Record first half NPAT of $87M, up 36% on prior corresponding period; MAC royalty revenue increased 12% to $116M driven by record sales volumes of 67.7Mdmt; Successful disposal of precious metal assets generating c28% pre-tax IRR and $108M cash proceeds
Financial Results for the Full-Year Ended 30 June 2025
Deterra Royalties delivered strong FY25 results with revenue of $263.4M (+10% YoY) and underlying EBITDA of $250.1M (+10% YoY) at a robust 95% margin, driven by record Mining Area C production despite lower iron ore prices, plus contributions from newly acquired Trident assets. The company declared a fully franked final dividend of 13.0 cents per share (total FY25 dividend 22.0 cents, 75% payout ratio) and established a forward dividend policy targeting 75% of NPAT, supported by a strengthened balance sheet with net debt of $271M and 10% gearing. Key points: Revenue grew 10% to $263.4M with underlying EBITDA up 10% to $250.1M, maintaining strong 95% EBITDA margin despite lower iron ore pricing; Mining Area C achieved record production of 140.1M wet metric tonnes (+12.5% YoY), delivering $20M capacity payment with South Flank exceeding nameplate capacity in first post-ramp year; Trident acquisition successfully integrated, contributing $22.6M revenue in 10-month ownership period with gold offtakes generating $21.5M net realised margin on 281.4koz
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