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15 Mar

Ferrexpo sees significant earnings decrease, restarts pellet unit

Swiss-headquartered, Ukraine-based iron ore miner and pellet producer Ferrexpo's 2022 revenue decreased by 50% on-year to almost $1.25 billion. Ebitda was down 47% to $765 million and net cash flow from operating activities decreased by 72% to $301m, Kallanish notes. The main reason was the ongoing Russian invasion into Ukraine, the company says. "The closure of Ukraine’s access to the Black Sea places a significant impediment in our abi…
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