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Ferrexpo PLC (FXPO.L)

FXPO.L on London Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Ferrexpo reports higher full-year core earnings
Wednesday, 22 Mar 2017 03:12am EDT 

Ferrexpo Plc : FY revenue rose 3 percent to $986 million . FY EBITDA rose 20 pct to $375 mln . FY profit before tax up $206 mln to $231 mln (2015: $25 mln) . FY operating profit, excluding foreign exchange gains, up 36 pct to $307 mln (2015 $225 mln) . FY record production of 65 pct fe pellets a to 10.5 mt, approximately 94 pct of total production volumes (2015 65 pct FE pellet production: 10.4 mt) . FY net cash flows from operating activities up 159 pct, or $204m, to $332m (2015: $128m) . Net debt reduced 32 pct to $589m as of 31 December 2016 (31 December 2015: $868m) . FY record sales volumes a increasing 3 pct to 11.7 mt (2015: 11.3 mt) reflecting higher sales to western Europe and north east Asia . FY c1 cash cost of production a reduced 13 pct to $27.7 per tonne, a ten year low (1h 2015: $33.4 per tonne) . Cash balance increased by $110m to $145m as of 31 December 2016 (31 December 2015: $35m) . Final ordinary dividend of 3.3 us cents per share proposed (2015: nil) and special dividend of 3.3 us cents per share (2015: nil) payable on 11 April 2017 . FY average realised pellet premium below 2015 levels, however, have now recovered strongly in 1Q 2017 . Expect group's net debt to EBITDA to improve further during year . Development capex increasing in 2017 to expand concentrate output.  Full Article

Wigmore Street Investments to sell about 70 mln shares in Ferrexpo- bookrunner
Thursday, 27 Oct 2016 11:44am EDT 

Bookrunner: Ferrexpo : Bookrunner- intention to sell approximately 70 mln ordinary shares of Ferrexpo Plc representing approximately 11.9 pct .Ferrexpo : Bookrunner- Following placing, seller expected to hold about 71 mln shares, about 12.0 pct of company's issued ordinary share capital.  Full Article

Ferrexpo H1 EBITDA $160 mln
Wednesday, 3 Aug 2016 02:00am EDT 

Ferrexpo Plc : H1 ebitda $160 million versus $176 million year ago . H1 production volumes from own ore grew 4% to 5.7 million tonnes .H1 revenue $458 million versus $512 million year ago.  Full Article

Ferrexpo plc recommends interim dividend
Wednesday, 5 Aug 2015 02:00am EDT 

Ferrexpo plc:Says that it has recommend an interim dividend of $3.3 cents per ordinary share amounting to $19 million (1H 2014: $3.3 cents) for payment on Sept. 18 2015 to shareholders on the register at the close of business on Aug. 14, 2015.Says the ex-dividend date will be Aug. 13, 2015.Says the dividend will be paid in UK Pounds Sterling, with an election to receive in US Dollars.  Full Article

Ferrexpo plc updates on disposal of stake in Ferrous Resources Limited
Tuesday, 9 Jun 2015 07:32am EDT 

Ferrexpo plc:Says further to the announcement made on April 30, the conditions for disposal of Ferrexpo's interest in Ferrous Resources Limited have now been satisfied and the proceeds of $41.8 million from the disposal have been received by the Company.  Full Article

Ferrexpo PLC disposes stake in Ferrous Resources Ltd
Thursday, 30 Apr 2015 02:01am EDT 

Ferrexpo PLC:Agreed to unconditionally tender for disposal its entire 15.51 pct stake in Ferrous Resources Ltd to IEP Ferrous Brazil for a total cash consideration of $41.8 million.  Full Article

More From Around the Web

UPDATE 1-Ferrexpo expects to raise dividend, spending in 2017

LONDON, March 22 Iron ore pellet producer Ferrexpo plans to double its dividend in 2017 and raise spending on its mines on expectation for improved prices for its products, the company's financial officer said on Wednesday.