Ferrexpo PLC 3Q 2019 Production Report (0436P)

TIDMFXPO

RNS Number : 0436P

Ferrexpo PLC

08 October 2019

8 October 2019

Ferrexpo plc

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

3Q 2019 Production Report

Summary:

   --    9M 2019 total pellet production up 1.7% versus 9M 2018 total pellet production 
   --    9M 2019 production of high quality 65% Fe pellets up 4.2% compared to 9M 2018 

-- Production of high quality 65% Fe pellets comprised 96% of total production compared to 94% for 9M 2018

-- Refurbishment of the Group's final pellet line to begin on 28 October 2019 for approximately 55 days. This includes an upgrade to the travelling grate feeding the pellet line which should further increase the line's productivity

-- Given the current market environment, Ferrexpo's full year production will likely be in the range of 10.4MT to 10.6MT compared to previous guidance of 10.6MT

 
 000' tonnes                    Q3 2019    Q2 2019    Change   YTD 2019   YTD 2018   Change 
                               =========  =========           =========  ========= 
                                                        %                              % 
                               =========  =========  =======  =========  =========  ======= 
 Pellet production from own 
  ore                           2,538.89   2,813.80     -9.8   7,891.39   7,741.57      1.9 
  - 62% Fe pellets                 95.99     107.50    -10.7     310.99     484.57    -35.8 
  - 65% Fe pellets              2,442.90   2,706.30     -9.7   7,580.40   7,257.00      4.5 
 
 Production from third party 
  materials                         0.00       0.00        -       0.00      14.50      n/a 
  - 62% Fe pellets                  0.00       0.00        -       0.00       0.00        - 
  - 65% Fe pellets                  0.00       0.00        -       0.00      14.50      n/a 
 
 Total Pellets Produced         2,538.89   2,813.80     -9.8   7,891.39   7,756.06      1.7 
                               ---------  ---------  -------  ---------  --------- 
  - 62% Fe pellets                 95.99     107.50    -10.7     310.99     484.57    -35.8 
  - 65% Fe pellets              2,442.90   2,706.30     -9.7   7,580.40   7,271.49      4.2 
-----------------------------  ---------  ---------  -------  ---------  ---------  ------- 
 

For further information contact:

 
 Ferrexpo: 
 Ingrid McMahon    [phone] 
 Maitland/AMO: 
 James Isola       [phone] 
 
 

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 40 years. Ferrexpo's resource base is one of the largest iron ore deposits in the world. In 2018, the Group produced 10.6 million tonnes of pellets, a 2% increase compared to 2017, ranking it as the 3rd largest exporter of pellets to the global steel industry with a market share of approximately 8.5%. Ferrexpo has a diversified customer base supplying steel mills in Austria, Germany, Japan, South Korea, Taiwan, China, Slovakia, the Czech Republic, Turkey, Vietnam and the United States of America. Ferrexpo has a premium listing on the main market of the London Stock Exchange under the ticker FXPO. For further information, please visit www.ferrexpo.com

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October 08, 2019 02:00 ET (06:00 GMT)