Companies

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 ($)	0.388
Market Cap ($m)	228
Enterprise Value ($m)	123
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	0.36	0.26	***	***	***
P/Sales	0.13	0.09	***	***	***
EV/EBITDA	0.3	0.1	***	***	***
P/Book	0.15	0.12	***	***	***

Ferrexpo — Estimates has enough funds to operate beyond end-August

Ferrexpo issued an update stating that it has received $7.7m in net proceeds from the sale of the transshipping vessel Iron Destiny and, based on current production rates and an optimized sales mix, now estimates that it has sufficient net accessible cash beyond the previously indicated end-August 2026 liquidity horizon. At the same time, the company reiterated that it continues to pursue an equity raise of at least $100m, which it views as the most viable solution.

Apr 28, 2026

| Iron Ore

Ferrexpo — received non-binding interest in excess of $100m for the equity raise; largest shareholder intends to participate

Ferrexpo reported that it has received non-binding interest from institutional investors to participate in a share capital increase in excess of $100m, though “on terms that can’t be achieved within the required time frame”. The company has been in discussion with a representative of its largest shareholder, Fevamotinico, which confirmed its support for the share capital increase and expressed readiness to participate on a pro-rata basis where the fundraise is no greater than $100m.