Ferrexpo’s net profit increased by 20% in 2019

In 2019, the Ferrexpo Group increased its net profit by 20% to $403 million against the previous year,

according to the Group’s 2019 full year results.

In 2019, Ferrexpo’s revenue grew by 18% to $1.5 billion, EBITDA increased by 17% to $586 million, net cash flow from financial operations rose by 62% to $473 million.

Ferrexpo’s capital investment increased by 83% to $247 million compared to 2018. Net debt shrank by 17% to $281 million.

Ferrexpo is a Swiss-based mining company with iron ore assets in Ukraine. It produces and exports high-quality iron ore pellets for steel production. The Ferrexpo Group is the largest producer and exporter of iron ore pellets among the countries of the former Soviet Union.

Its production assets include Poltava Mining and Yeristovo Mining (holding a 100% stake each).

In 2019, the Ferrexpo Group decreased iron ore pellet production by 0.8% to 10.5 million tons. Its pellet sales volume in 2019 amounted to around 10.3 million tons, up from 2018 (10.2 million tons).