Ferrexpo reduced pellet production to 6.05 million tons in 2022

In the fourth quarter of 2022, production fell by 86% y/y – to 417 thousand tons

Ferrexpo produced 300,000 tons of pellets in October-December 2022

The decrease in production is caused by the forced shutdown of capacities in October 2022 due to interruptions in energy supply

Ferrexpo to reduce carbon emissions by 50% by 2030

The company has already achieved a 30% reduction in emissions in categories 1 and 2 compared to the base year of 2019

Ferrexpo has increased the funding of its Humanitarian Fund to $15 million

Since the beginning of the war, the fund has provided assistance to 5 million people and 7 regional centers of Ukraine

Ferrexpo partially resumes production after stabilization of energy supply

From October 11, 2022, the company had to suspend capacity due to massive damage to the Ukrainian energy infrastructure

Ukrainian iron and steel industry temporarily stops production due to energy supply restrictions

The Ferrexpo company temporarily stopped production at its enterprises, and ArcelorMittal Kryvyi Rih limited capacity. Metinvest enterprises are focused on preventing emergency situations that could potentially arise due to the lack of a stable power supply

Ferrexpo reduced pellet production to 5.6 million tons in January-September 2022

In the third quarter of 2022, production fell by 68% y/y – to 839 thousand tons

Poltava Mining intends to reconstruct the IPC of the pellet production shop

The works are planned to be carried outin the part of the filtering and averaging building of the concentrate “1, A and No. 2, B".

Fitch downgrades Ferrexpo to CCC+

But Fitch also notes the company's satisfactory liquidity and expects free cash flow in 2022-2024 to be neutral

Ferrexpo has employed 88 refugees since the beginning of the war

In particular, they became truck drivers, craftsmen, mechanics and medical personnel

The main problem: how to deliver our products to customers

Non-considered steps in finances and logistics can create additional risks for the industry

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