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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 Q2 Pellet Production Up 11% To 2.8mt
Friday, 5 Jul 2019 02:00am EDT 

July 5 (Reuters) - Ferrexpo PLC ::FERREXPO PLC - PRODUCTION FOR 2Q 2019 AND TRADING UPDATE.FERREXPO PLC - 2Q 2019 PELLET PRODUCTION UP 11% TO 2.8MT (1Q 2019: 2.5 MT)..FERREXPO PLC - 1H 2019 PELLET PRODUCTION UP 5% TO 5.4MT (1H 2018: 5.1MT)..FERREXPO PLC - FY 2019 PRODUCTION GUIDANCE REMAINS AT 10.6MT.FERREXPO PLC - 1H 2019 SALES VOLUMES EXPECTED TO INCREASE BY APPROXIMATELY 4% TO 5.0MT (1H 2018 SALES VOLUMES: 4.8MT)..FERREXPO PLC - AVERAGE C1 COST OF PRODUCTION FOR 1H 2019 IS EXPECTED TO BE APPROXIMATELY US$46 PER TONNE.  Full Article

Ferrexpo Appoints MHA Macintyre Hudson As Auditor
Wednesday, 3 Jul 2019 02:00am EDT 

July 3 (Reuters) - Ferrexpo PLC ::APPOINTMENT OF AUDITOR.BOARD HAS APPROVED APPOINTMENT OF MHA MACINTYRE HUDSON UK MEMBER OF BAKER TILLY INTERNATIONAL, AS COMPANY'S AUDITOR.  Full Article

Ferrexpo Says H1 EBITDA Expected To Increase Materially Compared With H1 2018
Friday, 7 Jun 2019 02:00am EDT 

June 7 (Reuters) - Ferrexpo PLC ::FERREXPO PLC - TRADING UPDATE.FERREXPO PLC - GROUP EBITDA IN 1H 2019 IS EXPECTED TO INCREASE MATERIALLY COMPARED WITH 1H 2018.FERREXPO PLC - YEAR TO DATE, IMPROVEMENT IN PROFITABILITY HAS BEEN DRIVEN BY HIGHER PRICING, PRODUCTION AND SALES VOLUMES COMPARED TO 1H 2018.FERREXPO PLC - GRAEME DACOMB WILL BE APPOINTED TO BOARD AS AN INDEPENDENT NON-EXECUTIVE DIRECTOR CHAIRING AUDIT COMMITTEE.FERREXPO PLC - AVERAGE C1 COST OF PRODUCTION IS LIKELY TO INCREASE IN 1H 2019 COMPARED WITH 1H 2018.FERREXPO PLC - DACOMB WAS A PARTNER AT ERNST AND YOUNG (EY) FOR 26 YEARS.FERREXPO PLC - COST INFLATION HAS BEEN LOWER THAN EXPECTED DUE TO A FALL IN BRENT OIL PRICE AND EUROPEAN GAS PRICE.FERREXPO - "APPOINTMENT OF SOMEONE OF GRAEME'S CALIBRE UNDERLINES BOARD'S COMMITMENT TO HIGHEST STANDARDS OF CORPORATE GOVERNANCE".FERREXPO PLC - BALANCE SHEET REMAINS "STRONG" WITH NET DEBT EXPECTED TO FURTHER REDUCE COMPARED TO 31 DECEMBER 2018.FERREXPO PLC - INDEPENDENT REVIEW INTO HOW FERREXPO'S DONATIONS TO A THIRD PARTY CHARITY IN UKRAINE WERE USED REMAINS ONGOING.FERREXPO PLC - IN PROCESS OF APPOINTING A NEW AUDITOR; NEW CHAIR OF AUDIT COMMITTEE WILL OVERSEE THE PROCESS.FERREXPO - TO DATE, AFTER WORK ON PART OF FORENSIC ACCOUNTANTS, THERE HAS BEEN NO CONCLUSIVE EVIDENCE OF ANY "WRONGDOING".FERREXPO PLC - ALSO IN PROCESS OF APPOINTING A NEW AUDITOR.FERREXPO PLC - INTENDS TO MAKE FURTHER BOARD APPOINTMENTS IN DUE COURSE.  Full Article

Norges Bank Discloses 3.19 Pct Stake In Ferrexpo As Of April 26
Wednesday, 1 May 2019 02:01am EDT 

May 1 (Reuters) - Ferrexpo PLC ::NORGES BANK DISCLOSES 3.19 PERCENT STAKE IN FERREXPO AS OF APRIL 26 - FILING.  Full Article

Ferrexpo Says CFO Sold 2016 LTIP Shares On April 25
Monday, 29 Apr 2019 05:02am EDT 

April 29 (Reuters) - Ferrexpo PLC ::CHRIS MAWE, CFO, HAS INFORMED CO THAT HE SOLD 2016 LTIP SHARES WHICH VESTED ON DAY OF ANNOUNCEMENT OF GROUP'S 2018 FINANCIAL RESULTS.AT TIME OF DECISION AND EXECUTION OF SHARE SALE, NEITHER MAWE NOR CO HAD RECEIVED DELOITTE'S LETTER OF RESIGNATION.  Full Article

Ferrexpo Notes Deloitte's View That Co Delayed Review Into Donations To Blooming Land
Monday, 29 Apr 2019 02:02am EDT 

April 29 (Reuters) - Ferrexpo PLC ::STATEMENT FROM THE BOARD.NOTE DELOITTE'S VIEW THAT COMPANY DELAYED IN COMMENCING ITS INDEPENDENT REVIEW INTO GROUP'S CHARITABLE DONATIONS TO BLOOMING LAND.DELOITTE'S REVIEW DID NOT FLAG ANY MATTERS WHICH CAUSED DELOITTE TO BELIEVE THAT HY RESULTS HAD NOT BEEN PREPARED IN ACCORDANCE WITH STANDARDS.FORMED OWN CONSIDERED VIEW, BELIEVES INITIATED FORMAL INDEPENDENT REVIEW AT APPROPRIATE TIME.BOARD HAS INITIATED A PROCESS TO IDENTIFY AND APPOINT NEW INDEPENDENT NON-EXECUTIVE DIRECTORS.SEARCH FOR A NEW AUDITOR FOR GROUP IS UNDERWAY."DIRECTORS ARE CONFIDENT IN QUALITY OF GROUP'S ACCOUNTS, REPORTING AND INTERNAL CONTROL SYSTEMS".WOULD LIKE TO RE-EMPHASISE THAT BLOOMING LAND IS NOT CONSIDERED A RELATED PARTY OF GROUP.ON 26 APRIL 2 DIRECTORS MARY REILLY, CHAIR OF AUDIT COMMITTEE; BERT NACKEN, CHAIR OF REMUNERATION COMMITTEE, DECIDED NOT TO SEEK RE-ELECTION.REILLY AND NACKEN HAVE DECIDED TO RESIGN WITH IMMEDIATE EFFECT.CHAIRMAN WILL BE MEETING AND SPEAKING WITH SHAREHOLDERS AND OTHER MARKET PARTICIPANTS DURING COURSE OF THIS WEEK.'WE CANNOT CONCLUDE AS TO ULTIMATE USE OF ALL OF FUNDS BY CHARITY'."FURTHER WORK IS REQUIRED BEFORE ANY FINAL CONCLUSIONS CAN BE DRAWN"."BOARD WOULD LIKE TO MAKE CLEAR THAT TO DATE NO CONCLUSIVE EVIDENCE OF MISAPPROPRIATION OF FUNDS HAS COME TO LIGHT".  Full Article

Ferrexpo Reports Q1 Pellet Production Of 2,539 Thousand Tonnes
Friday, 5 Apr 2019 02:01am EDT 

April 5 (Reuters) - Ferrexpo PLC ::FERREXPO PLC - PRODUCTION FOR 1Q 2019.FERREXPO PLC - TOTAL 1Q 2019 PELLET PRODUCTION OF 2,539 THOUSAND TONNES (1Q 2018: 2,585 THOUSAND TONNES).FERREXPO PLC - Q1 PRODUCTION OF 65% FE PELLETS FROM OWN ORE 2,431 THOUSAND TONNES IN LINE WITH 1Q 2018 OF 2,421 THOUSAND TONNES.  Full Article

Ferrexpo Says ‍Q1 Total 2018 Pellet Production Of 2,585 Thousand Tonnes​
Thursday, 5 Apr 2018 02:00am EDT 

April 5 (Reuters) - Ferrexpo PLC ::‍Q1 TOTAL 2018 PELLET PRODUCTION OF 2,585 THOUSAND TONNES (1Q 2017: 2,624 THOUSAND TONNES)​.  Full Article

Ferrexpo Says FY Profit Before Tax Up 95%
Wednesday, 21 Mar 2018 03:01am EDT 

March 21 (Reuters) - Ferrexpo Plc ::FY REVENUE UP 21% TO US$1.2BN ‍​.FY UNDERLYING EBITDA UP 47% TO US$551M‍​.FY PROFIT BEFORE TAX UP 95% US$450M ‍​.FY DIVIDEND PER SHARE $0.165​.NATIONAL BANK OF UKRAINE EXPECTS 2017 GDP GROWTH OF APPROXIMATELY 2%, IN LINE WITH 2016‍​.BOARD OF FERREXPO BELIEVES UKRAINE IS GRADUALLY MOVING IN THE RIGHT DIRECTION ALTHOUGH CHALLENGES REMAIN.EXPECTS TO BENEFIT FROM HIGHER PELLET PREMIUMS IN 2018, REFLECTING AGREEMENTS WITH CUSTOMERS AND STRONG DEMAND FOR HIGH QUALITY PELLETS​.2018 PRODUCTION VOLUMES TO REFLECT A 65 DAY PELLET LINE SHUTDOWN IN 2Q 2018.1H 2018 PRODUCTION IS EXPECTED TO BE IN LINE WITH 1H 2017.PRODUCTION IN 2H 2018 IS EXPECTED TO BE AHEAD OF 2H 2017.  Full Article

Ferrexpo Says 2017 Pellet Production fell to 10.4 mln tonnes
Tuesday, 9 Jan 2018 02:03am EST 

Jan 9 (Reuters) - Ferrexpo Plc ::‍TOTAL 2017 PELLET PRODUCTION 10.4 MT COMPARED TO 11.2 MT IN 2016 REFLECTING PLANNED PELLETISER MAINTENANCE​.‍4Q 2017 PRODUCTION INCREASED 12% COMPARED TO 3Q 2017​.‍2017 SALES VOLUMES APPROXIMATELY 10.4 MT COMPARED TO 11.7 MT IN 2016 DUE TO PRODUCTION LEVELS​.FULL YEAR AVERAGE 2017 CASH COST OF PRODUCTION WAS APPROXIMATELY US$33 PER TONNE COMPARED TO US$29 PER TONNE IN 2016.‍GROUP'S AVERAGE RECEIVED PRICE IN 2017 INCREASED SIGNIFICANTLY COMPARED TO 2016​.AVAILABLE LIQUIDITY AS OF 31 DECEMBER 2017 WAS CIRCA US$310M COMPARED TO US$145M AS OF 31 DECEMBER 2016.‍NET DEBT AS OF 31 DEC 2017 WAS APPROXIMATELY US$400M COMPARED TO US$589M AS OF 31 DECEMBER 2016.Q4 TOTAL PELLETS PRODUCED OF 2.79 MILLION TONNES VERSUS. 2.49 MILLION TONNES IN Q3.  Full Article

Miner Ferrexpo denies it delayed investigation into Ukraine charity donations

Iron ore miner Ferrexpo rejected on Monday an allegation by auditor Deloitte that it had delayed an investigation into the use of funds by its charity partner in Ukraine.