Ferrexpo paid over UAH 1.9 billion in taxes and fees in 2023

In January-December 2023, Ferrexpo’s enterprises (Poltava, Yeristovo and Belanovo Minings) transferred more than UAH 1.93 billion in taxes and fees to budgets of various levels.

This was reported by the company’s press service.

According to the structure of payments of the enterprises, during the reporting period, Poltava Mining (PGOK, Ferrexpo Poltava Mining, FPM, part of Ferrexpo) transferred taxes and fees to the budget of Ukraine in the amount of 1, 2 billion UAH, Yeristovo Mining (Ferrexpo Yeristovo Mining, FYM, part of Ferrexpo) – over UAH 722.7 million, Belanovo Mining (Ferrexpo Belanovo Mining, FBM, part of Ferrexpo) – over UAH 67.8 million.

Poltava Mining paid UAH 284 million to the local budget, over UAH 164 million to the regional budget, and over UAH 425 million – to the state budget (33%, 19%, and 48%, respectively). The company’s total social contribution amounted to over UAH 265 million.

Yeristovo Mining paid over UAH 112 million to the local budget, over UAH 64 million – to the regional budget, and over UAH 433 million – to the state budget (18%, 11%, and 71%, respectively). The company’s total social contribution is over UAH 111 million.

Belanovo Mining paid over UAH 57 million to the local budget, over UAH 1 million to the regional budget, and over UAH 4 million to the state budget of Ukraine (91%, 2% and 7%, respectively). The company’s social contribution amounted to over UAH 3 million.

In 2023, the company paid over UAH 41 million in environmental tax, over UAH 104 million – in land tax, over UAH 232 million – in personal income tax, and over UAH 31 million – in other taxes and fees. Subsoil use fees amounted to over UAH 463 million. Over the same period, Yeristovo Mining paid over UAH 253 million in income tax, over UAH 22 million – in environmental tax, over UAH 96 million – in personal income tax, and over UAH 190 million – in other taxes and fees. Land payments amounted to over UAH 49 million.

Belanovo Mining’s main budgetary payments in 2023 were as follows: land payment – over UAH 51 million, personal income tax – over UAH 10 million, and UAH 1 million of other taxes and fees.

About the company: Ferrexpo is a Swiss iron ore company with assets in Ukraine. Ferrexpo’s shares are listed on the London Stock Exchange’s FTSE 250 index (ticker FXPO). The Group produces high-quality premium iron ore pellets for the steel industry, which, compared to more common types of iron ore, reduce carbon emissions and increase the productivity of producers. Ferrexpo’s enterprises have been supplying the global steel industry with raw materials for over 50 years. Ferrexpo has a broad customer base that includes steelmakers around the world, including Austria, Germany, Japan, South Korea, Taiwan, China, Slovakia, the Czech Republic, Turkey, Vietnam, the United States, and others.

As GMK Center reported earlier, Ferrexpo has commissioned a concentrate filtration and storage facility at the crushing and processing plant (CPP) of Poltava Mining and Processing Plant. The project cost was $40 million.