Ukraine: Ferrexpo net profit up in 2017

In 2017 Ferrexpo plc increased net profit 2.1-fold, or by $205.272 million, to $394.472 million.

Revenue grew by 21.4%, to $1197.494 million.

EBITDA increased by 46.9%, to $551 million.

Last year Ferrexpo produced 10.444 million tons of pellets, down by 6.8% YoY. (Ukrainian metal)

Ukraine: Ferrexpo output down in January-February 2018

In January-February Ferrexpo produced 1.675 million tons of iron ore pellets, down by 3.8% YoY.

Concentrate output dropped by 6.4%, to 2.019 million tons.

In February Ferrexpo produced 771 thousand tons of pellets and 926 thousand tons of concentrate.

Last year Ferrexpo decreased pellets production by 6.8% YoY, to 10.444 million tons. (Ukrainian metal)

Ukraine: Ferrexpo to squeeze out PGOK shares

Ferrexpo plc is considering a squeeze-out at Poltava Mining and Processing Works, the largest manufacturer of iron ore pellets in Ukraine.

At present this move is being analyzed.

Ferrexpo plc owns 100% of Ferrexpo AG, which in its turn is the owner of 99.11% of PGOK and 100% of Yeristovo GOK. (Ukrainian metal)

Ukraine: Fitch upgrades Ferrexpo to “B”

Fitch Ratings has upgraded Ukraine-based Ferrexpo Plc’s Long-Term Issuer Default Rating (IDR) to “B” from “B-”, reads a report on the rating agency’s website. “The outlook on the IDR is positive. In addition, Ferrexpo’s senior unsecured ratings have been upgraded to “B” from “B-”. The Recovery Rating is unchanged at “RR4”,” the report says. “The…

Ukraine: S&P changes Ferrexpo rating to Positive

Standard&Poor’s has changed the rating forecast for Ferrexpo plc, owner of Poltava and Yeristovo GOKs, from Stable to Positive. On December 29, 2017 S&P improved the group rating following the “high productivity” shown lately. The agency has also confirmed Ferrexpo’s long-term rating at B-. The rating improvement is the result of the stable iron ore…

Ukraine: Ferrexpo invests 1.5 billion UAH in GOKs

In January-September Ferrexpo invested over 1.47 billion UAH ($55.3 million) in its Ukrainian assets. In particular, Poltava Mining and Processing Works received over 1075.2 million UAH ($40.4 million), and Yeristovo Mining and Processing Works – 390 million UAH ($14.9 million). PGOK spent this money on deposits development, strategic projects, spare parts, etc. EGOK used the…

Ukraine: Ferrexpo attracts $195-million loan

Ferrexpo, controlling Poltava and Yeristovo Mining and Processing Works, has attracted a 3-year $195-million loan. The loan has been organized by BNP Paribas and issued by 6 international entities. The loan has to be repaid by December 31, 2020. In January-September Ferrexpo exported 7.526 million tons of pellets. In 2016 the group received $189.2 million…

Ukraine: Ferrexpo pellets output down in January-September 2017

In January-September Ferrexpo, controlling Poltava and Yeristovo Mining and Processing Works, produced 7.652 million tons of pellets, down by 8.1% YoY.

In particular, the group produced 414.5 thousand tons of 62% Fe content pellets of its own ore and 7.216 million tons of pellets with 65% Fe content. (Ukrainian metal)

Ukraine: Ferrexpo payments to budget up in H1 2017

In January-June Ferrexpo enterprises (Poltava, Yeristovo and Bilanovsky Mining and Processing Works) paid 535.7 million UAH of various taxes to local, regional and the state budgets, up by 29.4% YoY. In particular, PGOK paid 411 million UAH of taxes, EGOK – 122.1 million UAH, and BGOK – over 2.6 million UAH. Poltava GOK paid 78…

Ukraine: Ferrexpo ratings up

Moody’s international ratings agency has improved Ferrexpo plc corporate rating from Caa3 to Caa2. Default risk rating has been increased from Caa3-PD to Caa2-PD, while its bonds from Caa3 to Caa2. The outlook on all ratings is stable. In 2016 Ferrexpo, which controls Poltava and Yeristovo Mining and Processing Works, received $189.2 million of net…

Ukraine: Fitch upgrades Ferrexpo Plc to ‘B-‘

Fitch Ratings has upgraded Ferrexpo Plc‘s Long-Term Issuer Default Rating (IDR) to ‘B-‘ from ‘CCC,’ reads a report on the rating agency’s website. “The outlook is stable. Ferrexpo Finance Plc’s senior unsecured rating was upgraded to ‘B-‘ from ‘CCC’. The Recovery Rating on the senior unsecured rating is ‘RR4’. Ferrexpo’s Short-term IDR was upgraded to…