Interim Management Statement


 

TIDMFXPO 
 
RNS Number : 5557Q 
Ferrexpo PLC 
15 April 2009 
 

15 April 2009 
 
 
 
 
Interim Management Statement 
 
 
Ferrexpo plc ("Ferrexpo" or the "Group") today issues its interim management 
statement for the period from 1 January to 1 April 2009, in accordance with the 
UK Listing Authority's Disclosure and Transparency Rules. 
 
 
Production Report for Q1 2009 
 
+-------------------+---------+---------+--------+---------+--------+---------+---------+--------+ 
| Production        | Q1      | Q4      | Change | Q1      | Change | YTD     | YTD     | Change | 
| in Tonnes '000    |         |         |        |         |        |         |         |        | 
+-------------------+---------+---------+--------+---------+--------+---------+---------+--------+ 
|                   | 2009    | 2008    | %      | 2008    | %      | 2009    | 2008    | %      | 
+-------------------+---------+---------+--------+---------+--------+---------+---------+--------+ 
| Iron Ore          | 6,192.1 | 6,162.3 | 0.5    | 7,131.5 | (13.2) | 6,192.1 | 7,131.5 | (13.2) | 
+-------------------+---------+---------+--------+---------+--------+---------+---------+--------+ 
| Concentrate       | 2,287.6 | 2,246.1 | 1.8    | 2,695.0 | (15.1) | 2,287.6 | 2,695.0 | (15.1) | 
+-------------------+---------+---------+--------+---------+--------+---------+---------+--------+ 
| Pellets from      | 1,883.3 | 1,838.1 | 2.5    | 2,232.7 | (15.6) | 1,883.3 | 2,232.7 | (15.6) | 
| produced raw      |         |         |        |         |        |         |         |        | 
| materials         |         |         |        |         |        |         |         |        | 
+-------------------+---------+---------+--------+---------+--------+---------+---------+--------+ 
| 62% Fe            | 905.9   | 815.4   | 11.1   | 1,279.4 | (29.2) | 905.9   | 1,279.4 | (29.2) | 
+-------------------+---------+---------+--------+---------+--------+---------+---------+--------+ 
| 65% Fe            | 977.4   | 1,022.7 | (4.4)  | 953.3   | 2.5    | 977.4   | 953.3   | 2.5    | 
+-------------------+---------+---------+--------+---------+--------+---------+---------+--------+ 
| Pellets Total     | 1,883.3 | 1,933.7 | (2.6)  | 2,268.2 | (17.0) | 1,883.3 | 2,268.2 | (17.0) | 
+-------------------+---------+---------+--------+---------+--------+---------+---------+--------+ 
| 62% Fe            | 905.9   | 911.0   | (0.6)  | 1,314.9 | (31.1) | 905.9   | 1,314.9 | (31.1) | 
+-------------------+---------+---------+--------+---------+--------+---------+---------+--------+ 
| 65% Fe            | 977.4   | 1,022.7 | (4.4)  | 953.3   | 2.5    | 977.4   | 953.3   | 2.5    | 
+-------------------+---------+---------+--------+---------+--------+---------+---------+--------+ 
 
 
 
 
 
 
Highlights 
 
 
Production 
  *  Total pellet production reduced slightly by 2.6% compared to Q4 2008, impacted 
  by adverse weather conditions in January 
  *  Full production achieved in March in line with prior year 
  *  Higher grade 65% Fe pellet output increased by 2.5% compared to the same period 
  last year 
 
 
 
Costs 
  *  Average C1 cash cost of production for Q1 2009 was US$37.4/t 
  *  Lower production in January increased average costs but was offset by lower 
  costs in March 
  *  March C1 cost was US$35.0/t - in line with December 2008 
 
 
 
Sales and Prices 
  *  Sales volume in Q1 2009 was 1,722kt 
  *  Average achieved DAF/FOB price in Q1 2009 was US$76.7/t 
  *  Seaborne spot sales continue to compensate for weaker contract markets 
 
 
 
 
 
 
 
Kostyantin Zhevago, Ferrexpo CEO, said: 
 
 
"Ferrexpo remains flexible in the face of continuing market volatility. We have 
been able to keep our costs low while successfully ramping production back up to 
full capacity in March and placing substantially all of our production in the 
market during the first quarter. We continue to trade profitably." 
 
 
 
 
Next Update 
 
 
Ferrexpo will issue a brief trading update to coincide with its Annual General 
Meeting on 19 May 2009. 
 
 
 
 
For further information, please contact: 
 
 
Ferrexpo:    +44 207 389 8304 
 
 
Gavin Mackay 
 
 
Finsbury:     +44 207 251 3801 
 
 
Robin Walker 
Peter Russell 
 
 
Notes to Editors: 
 
 
Ferrexpo is a Swiss headquartered resources Group with assets in Ukraine, 
principally involved in the production and export of iron ore pellets, used in 
producing steel. Current output is over 9 million tonnes per annum, most of 
which is exported to steelmakers around the world. The Group is listed on the 
main market of the London Stock Exchange under the ticker FXPO. For further 
information please visit www.ferrexpo.com. 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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