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 ($)	0.580
Market Cap ($m)	341
Enterprise Value ($m)	235
Shares Outstanding	588,624,142
Code	FXPO LN

Recommendations

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

Indicator	2018	2019	2020	2021	2022
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	2022
P/E	1.02	0.85	***	***	***
P/Sales	0.27	0.23	***	***	***
EV/EBITDA	1.4	1.1	***	***	***
P/Book	0.39	0.25	***	***	***

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Latest news about Ferrexpo

Apr 19, 2024

| Iron Ore

Ferrexpo — 2023 EBITDA down 83% to $130m

Ferrexpo reported 2023 net sales of $652m (-48% y-o-y), EBITDA of $130m (-83%) and net loss of $85m (vs. net income of $220m in 2022). The EBITDA margin slid by 41pp y-o-y to 20%. Factoring out F/X gains, EBITDA shrank by 77% y-o-y to $99m. Ferrexpo reported expensing $124m of provisions related to sureties provided by its subsidiary Ferrexpo Poltava Mining under loan agreements and being contested in courts.

Mar 26, 2024

| Iron Ore

Ferrexpo — Reports record wartime production in February, new restrictions on subsidiary shares, updates on court disputes

Ferrexpo reported yesterday that its Ukrainian subsidiary faced no disruptions in either production or sales in February, with the monthly production volume hitting the highest level since the start of the Russian invasion in February 2022.

Frontmen Agency