Ferrexpo plc
Lucio Genovese, Executive
Chair
Second Year Anniversary
Letter
Baar, Switzerland
23 February
2024
The second anniversary of Russia's
full-scale invasion of Ukraine is a moment to reflect on the
remarkable resilience shown by the Ukrainian people in defending
their country.
Ukrainians have found the strength and
resolve to stand firm and defend their country. It is no
exaggeration to say that the heroism of its people has given
Ukraine a new status in the world.
Over the past two years, I have been
constantly amazed by the altruistic attitude of Ferrexpo's
workforce and communities. Together, we continue to mourn the 35
company employees who have lost their lives. At the same time, we
remember those who have suffered injuries and trauma from the war.
Supporting their recovery is a high priority for us.
As a company, Ferrexpo has played its
part in supporting its stakeholders. We have shown that we are a
strong business capable of withstanding exceptional challenges.
We have learned to be flexible and to adapt to the changing
dynamics of war.
As the war enters its third year, we
remain steadfast in our commitment to protect our workforce and
communities. This commitment is especially the case for our brave
colleagues that are serving in the Armed Forces of Ukraine, and
veterans that have returned. 641 of our employees are serving in
the armed forces. We continue to support them with supplies of
safety equipment and essential items and hold jobs open for them
when they return. So far 81 colleagues have been demobilised, and
52 of them have returned to work. Last year we expanded our support
for veterans to include physical rehabilitation and psychological
support. Veterans unable to return to their previous functions due
to factors such as noise and vibration have the opportunity to
train and qualify for other roles in the business.
Like other businesses in Ukraine, the
structure of our workforce and skills base is changing because of
the war. Factors such as people joining and leaving the armed
forces, migration in and out of the Poltava region and changes in
the age profile of the workforce and gender balance together
require us to find new ways to recruit and train our people. At our
Ferrexpo Technical Expertise Centre, we have established several
new initiatives to allow our employees to learn new skills
quickly.
Our community needs during the war are
changing, too. In Horishni Plavni, our home town, the immediate
urgency to house and feed people fleeing the east of the country
has reduced. Ferrexpo now employs 102 people who re-located
to the region after the start of the full-scale invasion. We are
bolstering community wellbeing through our support for cultural and
social programmes as well as health, education and recreational
facilities. We recognise that mental health is an increasingly
important issue, and that we and others will need to focus more
resources in this area.
I am proud that we as a company have
learned to operate through a war and that we continue to provide an
important economic contribution to Ukraine.
2024 has started well, with
improvements in production, demand and access to customers in
traditional markets. As we enter the third year of war, we
are on a strong footing, testament to the determined Ukrainian
spirit of our people.
Slava Ukraini