Ferrexpo H1 revenue falls 57% on Ukraine disruptions

By Reuters News


Overview

  • Ukraine-focused iron ore pellet producer's H1 2026 revenue fell 57% yr/yr amid operational disruptions

  • Adjusted EBITDA for H1 2026 was negative (vs positive a year-ago), reflecting lower volumes and higher costs

  • Company completed US$100 mln equity fundraise post period to strengthen liquidity


Outlook

  • Ferrexpo says liquidity has been strengthened by a US$100 mln equity fundraise

  • Company says restoring production depends on electricity, logistics, VAT refunds and legal outcomes

  • Ferrexpo will continue strict cost controls and capital discipline amid ongoing uncertainty


Result Drivers

  • PRODUCTION CUTS - Co reduced operations to one pelletising line due to electricity shortages and liquidity constraints

  • LOWER SALES VOLUMES - Revenue fell 57% yr/yr, mainly due to a 62% drop in sales volumes

  • HIGHER OPERATING COSTS - Increased electricity, fuel, mining, maintenance and personnel costs raised production expenses


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

H1 Revenue

$196 mln

H1 Net Loss

$14.90 mln

H1 Adjusted EBITDA

-$4 mln


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 1 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the iron & steel peer group is "buy"

  • Wall Street's median 12-month price target for Ferrexpo PLC is GBp40.00, about 39.6% above its September 24 closing price of GBp28.66


Reuters Recommended Reads

  • Sept 23 - Wheat buyers brace for higher costs as Russia-Ukraine war drags on

  • Sept 23 - Russia kills eight in strikes on Ukraine as Trump meets Zelenskiy


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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