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Ferrexpo plc strong financial performance, with further growth ahead
Financial Highlights
· Revenues rise by 74% to US$1,353 million, reflecting market conditions and investments in increasing pellet quality.
· Underlying EBITDA
A increases by 147% to US$868 million (1H 2020: US$352 million).
· Profit after tax of US$661 million, representing an increase of 165% (1H 2020: US$250 million).
· Net cash
· Capital investment increases to US$142 million (1H 2020: US$96 million).
· Interim dividend of 39.6 US cents per share (1H 2020: 13.2 US cents per share) in respect of strong performance in 1H 2021.
Lucio Genovese, Ferrexpo Non-executive Chair, said:
“Today’s strong interim financial results reflect our multi-year investment programme in our assets, which has enabled us to not only take full advantage of the current strength of the iron ore market through our high grade iron ore products, but also deliver these results alongside excelle