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 ($) 1.845
Market Cap ($m) 1,086
Enterprise Value ($m) 969
Shares Outstanding 588,624,142
Code FXPO LN

Recommendations

FV ($) ****
Upside (%) ****
Recommendation ****
Indicator 2018 2019 2020 2021 2022E
Sales ($m) 1,274 1,507 *** *** ***
EBITDA ($m) 503 586 *** *** ***
Net Income ($m) 335 403 *** *** ***
Net Debt ($m) 339 281 *** *** ***
Indicator 2018 2019 2020 2021 2022E
P/E 3.24 2.69 *** *** ***
P/Sales 0.85 0.72 *** *** ***
EV/EBITDA 2.8 2.3 *** *** ***
P/Book 1.25 0.80 *** *** ***

Latest news about Ferrexpo

Aug 04, 2022
| Metals & Mining

Ferrexpo — Weaker 1H22 financials reflect impact of Russian invasion

Ferrexpo published its 1H22 results, reporting a 31% y-o-y and 20% h-o-h drop in net sales, to $936m, a 44% y-o-y and 15% h-o-h decline in EBITDA, to $486m, and an 88% y-o-y and 61% h-o-h drop in net income, to $82m, for an EBITDA margin of 51.9% (-15.3pp y-o-y, +3.0pp h-o-h) and net margin of 8.8% (-30.9pp y-o-y, -9.2pp h-o-h). The company booked a $254m impairment loss related to the impact of the Russian invasion of Ukraine.
Jul 07, 2022
| Metals & Mining

Ferrexpo — 2Q22 pellet production down 27% y-o-y

Ferrexpo reported its 2Q22 and 1H22 operating results. Second-quarter pellet production fell 23% q-o-q and 27% y-o-y to 2.1 Mt, with 65% pellets down 27% q-o-q and 28% y-o-y to 2.0 Mt and DRI pellet production totaling 90 kt (vs. zero in 1Q22 and +5.9% y-o-y). In 1H22, pellet production dropped by 14% y-o-y to 4.8 Mt, with 65% pellets down 13% y-o-y to 4.7 Mt and DRI pellets down 33% to 90 kt. In 1H22, total pellet sales fell by 21% y-o-y to 4.4 Mt, reflecting difficult logistics.
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