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 ($)	0.638
Market Cap ($m)	376
Enterprise Value ($m)	270
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	0.59	0.43	***	***	***
P/Sales	0.22	0.15	***	***	***
EV/EBITDA	0.4	0.2	***	***	***
P/Book	0.25	0.21	***	***	***

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Latest news about Ferrexpo

Apr 02, 2026

| Metals & Mining

Ferrexpo — Net cash down to $25m, considers equity raise

WSE-listed Kernel Holding, Ukraine’s largest sunflower oil producer and grain exporter, announced the acquisition of 190,000ha of farming assets from its founder and Board chairman Andrii Verevskyi for $348m. The first $300m installment will be paid immediately upon settlement, with the remaining balance due by Jun. 30, 2026.

Mar 09, 2026

| Metals & Mining

Ferrexpo — Restarts production; 10% of cash is held in Swiss bank facing liquidation

Ferrexpo reported that, following the temporary suspension of operations on Jan. 20 amid reduced power availability and a surge in power costs, it has now resumed production with one of its pelletizers. The company also announced that it holds $3m (out of $30m total cash currently) with Swiss bank MBaer Merchant Bank AG, which recently had its license revoked and has been ordered to liquidate.