FXPO Ferrexpo Plc

TIDMFXPO

RNS Number : 2010J

Ferrexpo PLC

02 April 2015

2 April 2015

Ferrexpo plc

("Ferrexpo", the "Group" or the "Company")

Production for 1Q 2015

Summary:

   --   Ramp up of capacity and quality upgrade projects complete 

-- Capability to produce a greater proportion of premium 65% Fe pellets increased throughout 1Q 2015

   --   Record 1Q 2015 pellet production of 2.9 mt, up 2.5% (1Q 2014: 2.8 mt) 

-- Record quarterly production of 65% Fe pellets at 2.5 mt or 85% of total output (1Q 2014: 1.4 mt, 48% of total output)

   --   Cost base continues to benefit from higher production volumes and Hryvnia devaluation 
 
 Production in tonnes 
  '000                                1Q 2015    4Q 2014     Change    1Q 2015    1Q 2014     Change 
                                                               %                                 % 
 Pellet production from own 
  ore                                 2,723.23   2,617.69        4.0   2,723.23   2,714.14         0.3 
               62% Fe                   433.40     999.98     (56.7)     433.40   1,462.50      (70.4) 
               65% Fe                 2,289.83   1,617.71       41.5   2,289.83   1,251.64        82.9 
 ----------------------------------  ---------  ---------  ---------  ---------  ---------  ---------- 
 
 Pellet production from third 
  party materials                       162.07     145.21       11.6     162.07     101.96        59.0 
               62% Fe                     0.00      42.22          -       0.00       0.00           - 
               65% Fe                   162.07     102.99       57.4     162.07     101.96        59.0 
 ----------------------------------  ---------  ---------  ---------  ---------  ---------  ---------- 
 
 Total pellet production              2,885.30   2,762.90        4.4   2,885.30   2,816.10         2.5 
               62% Fe                   433.40   1,042.20     (58.4)     433.40   1,462.50     (70.4) 
               65% Fe                 2,451.90   1,720.70       42.5   2,451.90   1,353.60        81.1 
 ----------------------------------  ---------  ---------  ---------  ---------  ---------  ---------- 
 

For further information contact:

 
 Ferrexpo: 
 Ingrid McMahon    +44 207 389 8304 
 Maitland: 
 Peter Ogden       +44 207 379 5151 
 Liz Morley 
 

Notes to Editors:

Ferrexpo is a Swiss headquartered iron ore company with assets in Ukraine. It has been mining, processing and selling high quality iron ore pellets to the global steel industry for over 35 years. Ferrexpo's resource base is one of the largest iron ore deposits in the world. The Group is the 5th largest supplier of pellets to the global steel industry and the largest exporter of pellets from the CIS. In 2014, it produced a record 11 million tonnes of pellets, a 2% increase compared to 2013. Ferrexpo has a diversified customer base supplying steel mills in Austria, Slovakia, the Czech Republic, Germany and other European states, as well as in China, India, Japan, Taiwan and South Korea. Ferrexpo is listed on the main market of the London Stock Exchange under the ticker FXPO. For further information, please visit www.ferrexpo.com

This information is provided by RNS

The company news service from the London Stock Exchange

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