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Ferrexpo Sees Materially Higher Group EBITDA In H1 - Quick Facts

Ferrexpo plc (FXPO.L), a Swiss iron ore company with assets in Ukraine, Friday said it expects first-half Group EBITDA to increase materially compared to the same period in the previous year.

In its trading update as part of its Annual General Meeting, the company said the improvement in profitability for the year to date period has been driven by higher pricing, production and sales volumes.

The company expects average C1 cost of production to increase from last year, while cost inflation has been lower than expected due to a fall in the Brent oil price and the European gas price.

Further, Ferrexpo announced that Graeme Dacomb will be appointed to the Board as an independent non-executive director as of June 10. He will chair the Audit Committee and will be a member of the Independent Review Committee which is looking into matters relating to Blooming Land.

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