Ferrexpo reports its production for Q1 2018

6 April 2018

Total iron ore pellets output made 2.6M tons, by 1.5% lower y-o-y and by 7% lower vs. previous quarter.

Premium 65% Fe pellets made 94% of total production volume.

General Ferrexpo pellets output dynamics during last years looked as follows:

Ferrexpo iron ore pellets production Q1 2018

Despite global iron ore price decrease during March, we expect good financial performance of the company in Q1 2018 according to our estimations EBITDA will be close to $130M (factually the company reports on semi-annual basis, no stand-alone financials for Q1 are to be reported).

Assuming global iron ore index will stay till the end of current year at close to actual $63/t, total Ferrexpo EBITDA in Y2018 will be close to $430-450M ($551M in Y2017), which should be sufficient to meet all obligation of the company in current year (taking into consideration dividends and investment program).

As a reminder in Q2 2018 Ferrexpo plans to realize one of its pellet lines refurbishment, which will have negative influence on total output of the company.

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