tiprankstipranks
Ferrexpo Achieves Record Production Amidst Challenges in 2024
Company Announcements

Ferrexpo Achieves Record Production Amidst Challenges in 2024

Story Highlights

Stay Ahead of the Market:

Ferrexpo ( (GB:FXPO) ) has issued an announcement.

Ferrexpo reported a significant increase in production for the fourth quarter and full year of 2024, marking the highest annual production performance since the full-scale invasion of Ukraine in 2022. The company achieved this by operating two of its four pelletising lines despite disruptions to the energy grid, focusing on higher quality pellets and high-grade concentrates. The Group’s ability to access Ukrainian Black Sea ports again facilitated exports to MENA and Asia, and it recorded a new annual high for the production of DR pellets. Despite challenges such as lower iron ore prices and higher input costs, Ferrexpo’s diversified product range and broad customer base helped mitigate financial pressures. The company also highlighted the contributions and sacrifices of its workforce, including those serving in the Ukrainian Armed Forces.

More about Ferrexpo

Ferrexpo is a Swiss headquartered iron ore company with assets in Ukraine and is listed on the London Stock Exchange. It is part of the FTSE 250 and FTSE4Good indices. The Group specializes in producing high-grade iron ore pellets, a premium product for the global steel industry, known for enabling reduced carbon emissions and increased productivity in steelmaking. Ferrexpo has been serving the global steel industry for over 50 years and was the world’s third largest exporter of pellets before Russia’s full-scale invasion of Ukraine in 2022.

YTD Price Performance: -6.33%

Average Trading Volume: 2,740,290

Technical Sentiment Consensus Rating: Sell

Current Market Cap: £632.7M

For an in-depth examination of FXPO stock, go to TipRanks’ Stock Analysis page.

Related Articles
Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App