In 2022, Ferrexpo received $1.2 billion of income, down from $2.5 billion in 2021. The drop was due to the Russian invasion of Ukraine resulting in the operational and logistics losses. EBITDA decreased by 47%, to $765 million. The fall was partially compensated for by the exchange rate difference ($339 million). Capital investments fell to…
Ferrexpo plc intends to reconstruct manufacturing structures of Poltava Mining and Processing Works dumps. The details of the reconstruction and the amount to be invested are not disclosed. But the operation will correspond to categories Nos. 15 and 22 – expansion and changes, including the revision or renewal of activities. (Ukrainian metal)
Ferrexpo has temporarily suspended operation at its assets in Poltava region due to the damage to the state grid by the Russian terrorist attack on October 10. “Our engineers are evaluating the damage done to the electric infrastructure and are estimating the period of forced delay due to repair,” the company said on October 11.…
In July-September, Ferrexpo produced 0.8 million tons of iron ore pellets, down by 68% YoY. The main reason of the drop is the Russian invasion of Ukraine in February and the logistics limitations connected with it. Now only one of four pelletizing lines is operating. In Q3, pellets output using direct reduction grew by 35%…
In January-June, Ferrexpo income decreased by 31% YoY, to $936 million. Net profit fell by 88%, to $82 million. EBITDA decreased by 44%, to $486 million. Pellets manufacture totaled 4.79 million tons, down by 14%. Sales dropped by 21%, to 4.37 million tons. (Ukrainian metal)
Fitch Ratings has decreased the rating of Ferrexpo. The company long-term rating was downgraded from B- to CCC+. Moreover, the agency excluded the company rating from the Rating Watch Negative due to the worsening of working condition in Ukraine and the growth of risks. “The rating reflects high uncertainty as to Ferrexpo financial and operational…
In April-June, Ferrexpo decreased iron ore pellets manufacture by 27% YoY, to 2.1 million tons. All the pellets had the iron content of 65%, with 4% of DRI pellets having the iron content of 67%. The drop is due to the Russian invasion of Ukraine and the logistics problems. In H1, sales decreased by 21%,…
Ferrexpo has decided to pay final dividends for 2021 in the amount of $0.066 per share, down from $0.132 last year. The decision was taken at the shareholders meeting on June 15. The final dividends will be paid to shareholders on July 4. Thus, the total amount of dividends paid for 2021 will be $0.528…
The Ferrexpo board of directors has decided to pay interim dividends for 2022 in the amount of $0.132 per ordinary share. These are the first dividends announced this year. The final dividends for 2021 will be approved by the shareholders at a meeting on June 15. Interim dividends will be paid on June 28. (Ukrainian…
Ferrexpo has announced the suspension of capital investments in increasing output volumes by 25% for the duration of the war. When the situation improves, the projects will be resumed. In three years, pellets output is expected to grow by 3 million tons. Ore extraction will increase from 125 million tons in 2020 to 265 million…
Since the start of the Russian invasion, Ferrexpo has paid over $35 million (UAH 1 billion) of taxes. Moreover, the company has provided $12.5 million (UAH 352.2 million) to finance its own humanitarian foundation. The foundation was created on March 7. In Q1, Ferrexpo produced 2.7 million tons of pellets, down by 11% QoQ. Sales…
Ferrexpo increased income by 48% YoY in 2021, to $2.5 billion. EBITDA grew by 68%, to $1.43 billion. Net monetary flows went up by 59%, to $1.09 billion. Due to the Russian invasion of Ukraine, the company board of directors decided to postpone any decision on the interim dividends. The decision will be taken when…
In January-March, Ferrexpo decreased pellets production by 11% QoQ, to 2.713 million tons. The main reasons of the drop are the operational and logistics limitations after the Russian invasion, which still continue worsening the operation conditions. Sales amounted to 2.6 million tons. (Ukrainian metal)