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 ($)	0.976
Market Cap ($m)	574
Enterprise Value ($m)	469
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	0.90	0.66	***	***	***
P/Sales	0.34	0.23	***	***	***
EV/EBITDA	0.7	0.3	***	***	***
P/Book	0.39	0.31	***	***	***

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Latest news about Ferrexpo

Jan 21, 2026

| Metals & Mining

Ferrexpo — Suspends operations due to power shortages

Ferrexpo said it has suspended operations due to power shortages following recent Russian attacks on Ukraine’s energy system and placed part of its workforce on furlough.

Jan 16, 2026

| Metals & Mining

Ferrexpo — 4Q25 output falls 29% q-o-q amid overdue VAT refunds, power shortages and export constraints

Ferrexpo reported 4Q25 pellet production of 0.4 Mt, down 35% q-o-q and 73% y-o-y, bringing full-year output to 3.2 Mt (-47% y-o-y). Quarterly concentrate production declined 24% q-o-q but rose 1.5x y-o-y to 661 kt, lifting 2025 concentrate output to 2.9 Mt (+4.1x y-o-y). Total production amounted to 1.1 Mt in 4Q25, down 29% q-o-q and 39% y-o-y, with full-year output of 6.1 Mt (-9.4% y-o-y).