Ferrexpo PLC Production Report for 2Q 2022 (6535R)
07 7월 2022 - 3:00PM
UK Regulatory
TIDMFXPO
RNS Number : 6535R
Ferrexpo PLC
07 July 2022
7 July 2022
Ferrexpo plc
("Ferrexpo" or the "Company" or the "Group")
Production Report for 2Q 2022
Ferrexpo plc (LSE: FXPO), the world's third largest exporter of
high grade iron ore pellets to the global steel industry, with
operations in central Ukraine, hereby provides the following
summary of its production in the second quarter of 2022 ("2Q
2022"):
-- The safety and wellbeing of the Group's workforce remains
Ferrexpo's highest priority. The Group continues to take extensive
measures to protect its workforce, their families and local
communities, alongside providing support for those affected by
Russia's invasion of Ukraine.
-- Total iron ore pellet production for 2Q 2022 of 2.1 million
tonnes, representing a year on year decrease of 27%, as a result of
the ongoing conflict in Ukraine and associated logistics
constraints.
-- The Group continues to operate with between one and three of
its pelletiser lines, reflecting logistics availability within
Ukraine.
-- The Group's focus on high grade forms of iron ore continues,
with 100% of production in 2Q 2022 grading 65% Fe or above,
including 4% of pellet production during the period comprising of
the Group's latest product - higher grade (67% Fe) direct reduction
pellets (full year 2021: 4%).
-- Sales in the first half of 2022 of 4.4 million tonnes,
representing a year on year decrease of 21%, and reflecting the
same logistics constraints as referenced above. The Group is in
advanced discussions with a number of logistics providers to resume
access to seaborne markets via neighbouring countries.
-- The situation in Ukraine remains complex. In accordance with
the Government of Ukraine's request for economic activities to
continue, the Group will continue to produce and transport its
products, as long as the capability is in place, and it remains
safe to do so.
Jim North, Chief Executive Officer of Ferrexpo commented:
"We continue to operate and adapt our business in Ukraine as new
risks emerge. We also continue to be impressed by the remarkable
resilience of the people of Ukraine, despite the continual
bombardment over the last four months. Our production result in the
second quarter of 2022 reflects the determination of our people,
our suppliers and our customers, and I would like to thank everyone
involved for their continued efforts. In terms of logistics
availability, which remains the largest constraint on our business
at the present time, we are advancing efforts to increase seaborne
exports and have made initial deliveries to customers."
Product
Thousand tonnes, unless Grade QoQ (vs. YoY (vs. YoY (vs.
stated otherwise Fe 2Q 2022 1Q 2022 2Q 2021 6M 2022 6M 2021
--------------------------------- -------- -------- --------- --------- -------- ---------
Total commercial production
(pellets and commercial
concentrate) 2,103 (22%) (28%) 4,816 (16%)
Total pellet production 2,085 (23%) (27%) 4,797 (14%)
Pellet production comprised
of:
o Direct Reduction Pellets 67% 90 - +6% 90 (33%)
o Ferrexpo Premium Pellets 65% 1,994 (26%) (28%) 4,707 (13%)
o Ferrexpo Basic Pellets 62% - - - - -
Commercial concentrate
production 67% 19 - (79%) 19 (88%)
--------------------------------- -------- -------- --------- --------- -------- ---------
For further information, please contact:
Ferrexpo:
Rob Simmons r.simmons@ferrexpo.ch +44 207 389 8305
Tavistock:
Jos Simson
Emily Moss +44 207 920 3150
Gareth Tredway ferrexpo@tavistock.co.uk +44 7785 974 264
About Ferrexpo:
Ferrexpo is a Swiss headquartered iron ore company with assets
in Ukraine and a premium listing on the London Stock Exchange in
the FTSE 250 index (ticker FXPO). The Group produces high grade
iron ore pellets, which are a premium product for the global steel
industry and enable reduced carbon emissions and increased
productivity for steelmakers when the Group's iron ore pellets are
converted into steel, compared to more commonly traded forms of
iron ore. Ferrexpo's operations have been supplying the global
steel industry for over 50 years, and in 2021 the Group produced
11.2 million tonnes of iron ore pellets, placing Ferrexpo as the
world's third largest exporter of pellets to the global steel
industry with a market share of approximately 9%. The Group has a
global customer base comprising of premium steel mills around the
world, which includes steel mills in Austria, Germany, Japan, South
Korea, Taiwan, China, Slovakia, the Czech Republic, Turkey, Vietnam
and America. For further information, please visit www.ferrexpo.com
.
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