Champion Iron June quarter earnings slide despite record sales volume
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The news: Champion Iron has posted record sales volume in the June quarter as the iron ore miner reduced stockpiles and improved transport logistics, but posted a fall in EBITDA compared to the same time last year.
The numbers: For the three months ending 30 June 2025, Champion Iron reported an EBITDA of C$57.8 million ($64.4 million). This is a 55% fall on the preceding quarter and a 68% year-on-year fall.
This is despite posting record quarterly sales of 3.8 million dry metric tonnes, up 10% quarter on quarter and up 11% year on year.
Total cost of sales increased 12% quarter on quarter and 19% year on year.
Meanwhile, revenue fell by 8% quarter on quarter and 16% year on year as the net average realised selling price fell 14% quarter on quarter and 26% year on year.
The context: Champion CEO David Cataford said the record quarterly sales volumes of iron ore concentrate was enabled by “improving transportation logistics” and reducing stockpiled inventories at its Bloom Lake project in Quebec, Canada.
What they said: “Our agile workforce remains focused on optimising operations as we strategically position our Company to capitalise on the anticipated growth in demand for high-purity iron ore,” Cataford said.
