Ferrexpo

Ferrexpo is an LSE-listed producer and exporter of iron ore pellets. Its principal production facility is the Ukrainian iron ore mining company Poltavskiy GOK. The company owns significant iron ore reserves, making it one of the world’s largest pellet producers.

Shareholders Structure

SUMMARY

Market Price ($)	0.688
Market Cap ($m)	405
Enterprise Value ($m)	299
Shares Outstanding	588,624,142
Code	FXPO LN

Recommendations

FV ($)	****
Upside (%)	****
Recommendation	****

Indicator	2020	2021	2022	2023	2024
Sales ($m)	1,700	2,518	***	***	***
EBITDA ($m)	859	1,439	***	***	***
Net Income ($m)	635	871	***	***	***
Net Debt ($m)	(4)	(117)	***	***	***

Indicator	2020	2021	2022	2023	2024
P/E	0.64	0.46	***	***	***
P/Sales	0.24	0.16	***	***	***
EV/EBITDA	0.5	0.2	***	***	***
P/Book	0.27	0.22	***	***	***

Back to companies

Latest news about Ferrexpo

Aug 07, 2025

| Metals & Mining

Ferrexpo — Reports weak 1H25 financials

Ferrexpo reported 1H25 net sales of $453m, down 17% y-o-y but up 18% h-o-h. EBITDA came in at just $4m (-95% y-o-y), still up from -$10m in 2H24. The company posted a net loss of $196m vs. net income of $55m in 1H24 and a $106m loss in 2H24.

Jul 08, 2025

| Metals & Mining

Ferrexpo — 2Q25 production down 40% q-o-q as VAT refunds suspended

Ferrexpo reported pellet production of 0.8 Mt in 2Q25, down 40% q-o-q and 24% y-o-y. All output consisted of 65% Fe pellets. This brought 1H25 pellet output to 2.1 Mt, down 3% h-o-h and 26% y-o-y. Concentrate production fell 43% q-o-q in 2Q25 to 446 kt, though it remained up 136% y-o-y. In 1H25, concentrate output surged 214% h-o-h and 185% y-o-y. As a result, Ferrexpo’s total production declined to 1.3 Mt in 2Q25 (-40% q-o-q, -24% y-o-y), while 1H25 total output reached 3.4 Mt (+7% h-o-h, -9% y-o-y).