Ferrexpo Share Discussion Threads

[lodgeview] 04/8/2022 11:57

This morning was a perfect example of MM's taking out stop losses within the first 30 mins only to shoot it up to where it opened. Daylight robbery for those stupid enough to set automated stop losses.

[sbb1x] 04/8/2022 09:37

Gap @133 closed

[thags] 03/8/2022 16:11

Doing well Bozzy, hope you're well too.
Thanks for that so this is more just money set aside in case so could reverse in the future. It is a bit of a mess over there and 1knocker you are right, this was insanely undervalued in prior years. The PE will be much higher now with the new normal. I missed out loading up at 106p which would have been a tidy 40%+ but such is life. I will buy back in if it hits that level again which seems to be a capitulation low before the big guns pile in

[bozzy_s] 03/8/2022 15:56

Thags (hope you're doing well by the way) ......

"Other operating expenses increased from US$21 million to US$283 million, predominantly due to a recorded impairment loss of US$254 million on the Group's non-current operating assets, including property, plant and equipment, goodwill and intangible assets, and other non-current assets. The recorded impairment loss as of 30 June 2022 results from the Group's lower cash flow generation and higher discount rate to be applied, both caused by the ongoing war in Ukraine. The impairment will be re-assessed at the end of future reporting periods and might reverse, in case of an improvement of the situation in Ukraine."

"As a result of the ongoing war in Ukraine, certain logistics networks are not available and the Group had to adjust its long-term model to be used for the impairment test. Due to the currently lower expected cash flow generation, the carrying value of the Group's non-current operating assets exceeded its computed value in use by US$254 million and the Group has recognised an impairment loss corresponding to this amount."

[bozzy_s] 03/8/2022 15:53

Quite impressed to see FXPO still making a profit. A combination of good luck (war hasn't arrived on their doorstep), and good management (especially since Jim North became the boss). Got to give tons of credit to them.

I'm not ready to buy back in. The reason for investing in FXPO was the enormous dividends. Can't see those being resumed for a few years - it'd be seen as poor taste to move money out of Ukraine, into UK and Switzerland.

Might see returns of 10p a year in 2024 / 2025 ish. But the days of 60p, 70p, 80p per year are gone.

[1knocker] 03/8/2022 14:33

What we really want to know is whether they are getting on top of all the problems they faced over the first half, or whether this is as good as it gets while the war continues - which it looks like doing for the foreseeable future. Those results and the current rice make you think a bit about just how cheap it was in past years.

[thags] 03/8/2022 10:09

pretty poor TU yet the stock is going higher. Appears the bottom was already in at 106p
anyone know what the 254 mil impairment charge relates to?

[r9505571] 03/8/2022 09:45

Financial Highlights-- Revenues declined by 31% to US$936 million as a result of lower production and tighter market conditions.-- Profit after tax in the first half of 2022 ("1H 2022") declined by 88% to US$82 million, reflecting the realisation of an impairment of US$254 million during the period.-- Underlying EBITDA(A) decreased by 44% to US$486 million, reflecting higher costs, principally driven by lower production volumes, rising global inflation and energy prices.

[book5] 03/8/2022 09:12

Good reaction
Are Shortest likely to close their positions and not opening new ones till at least 200?
Rollercoaster Fxpo
Gla

[arja] 03/8/2022 08:14

give up this forecasting lyceeuk !

[book5] 03/8/2022 07:56

Do these results mean?
Equivalent $160million profit
More that £125 million profit
This excludes humanitarian aid
PE less than 8
So far not so bad
War looks like Ukraine is struggling to hold its terrain in the east
Volatility ahead
Strong exports of grain by sea means rail routes free for other business as fxpo

[scepticalinvestor] 03/8/2022 07:37

-35% today?

[arja] 03/8/2022 07:35

so bad results announced but it may be priced into the market and might hold up today .

[jw330] 02/8/2022 17:05

anyone interested in the history of Ukraine and Russia should watch this. Nice unbiased bit of info I think.

gla for tomorrow

[djb3] 02/8/2022 13:12

No sign of your promised 200p Lodge? 😂😂🤡🤡9313;🤡

[arja] 02/8/2022 12:56

book5 ,
yes , the battle for Kherson is crucial and it seems that Ukraine is about to mount a counter offensive in Donetsk after asking all civilians to leave . Slava Ukraini
! the better quality weapons getting through to the Ukrainians seems to be improving outlook for Ukraine and let's hope it can prove decisive .

[arja] 02/8/2022 12:51

porsche1943,
you talk nonsense as Zelensky has support of most Ukrainians and Ukraine is a democratic country and not an autocracy like Russia . You seem to be a Putin apologist sport !

[lodgeview] 02/8/2022 12:05

Porsche you go ahead and short it then. It will be funny to see...

[porsche1945] 02/8/2022 10:59

Ukraine is done for, zelensky has trashed his country and thousands of people killed for his ego and US interference fighting a proxy (unwinable)war that has sunk senile biden as well. Ukraine will end up annexed with all its assets so you can kiss good by to Fxp. Europe so utterly screwed with energy there is little will to keep pxssing off putin.

[lodgeview] 02/8/2022 10:25

A lot of folk selling out before results tomorrow it would appear. Could go two ways tomorrow, spike or collapse. You pays your money...

[thags] 02/8/2022 10:09

your'e probably the first one to try this process so well done!
most lose the will to live trying

[padooki] 02/8/2022 09:52

I held in an ISA, so could easily sell and rebuy the next day. If you do hold in a normal account, then I guess you have to wait 30 days before rebuying to maybe avoid issues on the Self-Assessment tax forms. I would happily wait the 30 days to avoid this process. I recently completed a probate application and it was easier and quicker than doing this

[thags] 02/8/2022 09:38

Hi Padooki,
were your shares held in an ISA or normal account

[padooki] 02/8/2022 08:41

Just wanted to tell you all of my experience claiming back the Swiss dividend tax withholding. I sent the paper forms off to HMRC in November to be validated and stamped. They were returned to me early last month. I then sent them to the Swiss tax office via post. I got a Chaps payment into my bank today. So 9 month process in total. I claimed back 4/7th of the 35% withholding. In my opinion, the form is time consuming, annoying and fiddly. The Swiss office requires proof of a dividend withholding. One of my brokers could provide a Tax voucher showing this but another couldn't so wrote me an email declaration instead. Like I said, fiddly. For recent ex-divi dates, I have sold my holding just before and bought back just after. The tax saved has pretty much matched the extra cost of selling and rebuying the share, maybe a slight benefit in my favour. This way I just have the money 9 months earlier. I don't intend to ever hold this share during ex-divi day again for convenience and my sanity