Ferrexpo PLC Trading Update (5014Z)
13 Gennaio 2020 - 8:00AM
UK Regulatory
TIDMFXPO
RNS Number : 5014Z
Ferrexpo PLC
13 January 2020
13 January 2020
Ferrexpo plc
("Ferrexpo", the "Group" or the "Company")
Trading Update and 2019 Pellet Production
2019 trading summary:
-- Ferrexpo continued to generate strong margins in 2019 as
higher realised prices of approximately 16% offset an increase in
the Group's C1 cash cost of production to c. US$48 per tonne (2018:
US$43 per tonne). The cost increase was primarily driven by a
strong local currency and domestic inflation.
-- 2019 pellet production from own ore 10,519kt (2018: 10,506kt).
-- Production of high quality 65% Fe pellets from own ore up 3%
in 2019 to 10,116kt (2018: 9,824kt).
-- Refurbishment of pelletising line number 2 completed in 4Q
2019. This is the final line refurbishment of the programme started
in 2014.
-- 2019 sales volumes approximately 10,300kt (2018:10,227kt).
-- Net debt as of 31 December 2019 was approximately US$282M (31
December 2018: US$340M). The Group's cash balance as of 31 December
2019 was approximately US$131M (31 December 2018: US$62M).
-- As announced on 2 January 2020, the Group declared an interim
special dividend of 6.6 US cents payable on 17 January 2020. This
special interim dividend reflects the Group's strong cash
generation ability and the Board's strategy to maintain a balance
between sustainable and attractive shareholder returns, investment
in growth opportunities and balance sheet strength.
2019 Pellet Production
000' tonnes Q4 2019 Q3 2019 Change YTD 2019 YTD 2018 Change
========= ========= ========== ==========
% %
========= ========= ======= ========== ========== =======
Pellet production from own
ore 2,627.56 2,538.89 3.5 10,518.95 10,506.16 0.1
- 62% Fe pellets 91.84 95.99 -4.3 402.83 682.49 -41.0
- 65% Fe pellets 2,535.72 2,442.90 3.8 10,116.12 9,823.67 3.0
Production from third party
materials 0.00 0.00 0.00 101.00
- 62% Fe pellets 0.00 0.00 0.00 0.00
- 65% Fe pellets 0.00 0.00 0.00 101.00
Total Pellets Produced 2,627.56 2,538.89 3.5 10,518.95 10,607.16 -0.8
--------- --------- ------- ---------- ----------
- 62% Fe pellets 91.84 95.99 -4.3 402.83 682.49 -41.0
- 65% Fe pellets 2,535.72 2,442.90 3.8 10,116.12 9,924.67 1.9
----------------------------- --------- --------- ------- ---------- ---------- -------
For further information contact:
Ferrexpo:
Ingrid McMahon +44 207 389 8304
Maitland/AMO:
James Isola +44 207 379 5151
Notes to Editors:
Ferrexpo is a Swiss headquartered iron ore company with assets
in Ukraine. It has been mining, processing and selling high quality
iron ore pellets to the global steel industry for 40 years. In
2019, the Group produced 10.5 million tonnes of pellets ranking it
as the 3rd largest exporter of pellets to the global steel industry
with a market share of approximately 9%. Ferrexpo has a diversified
customer base supplying steel mills in Austria, Germany, Japan,
South Korea, Taiwan, China, Slovakia, the Czech Republic, Turkey,
Vietnam and America. Ferrexpo has a premium listing on the main
market of the London Stock Exchange. Since its IPO in 2007, the
Group has paid approximately US$658 million in dividends to
shareholders, invested over US$2.4 billion of capital into its
operations and paid US$761 million in taxes and royalties to the
Ukrainian government. For further information, please visit
www.ferrexpo.com
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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