2023-03-15T11:48:00+02:00 Politics 2024-09-15T05:44:19+03:00

Ukrainian news

In 2022, Zhevaho's Ferrexpo reduces its profit 4 times

In 2022, Zhevaho's Ferrexpo reduces its profit 4 times

In 2022, the company Ferrexpo plc (Great Britain), which controls the Poltava and Yeristiv mining and processing plants (both - Poltava Region), reduced its profit four times or by USD 651 million year over year to USD 220 million, and revenue – twice or by USD 1.27 billion to USD 1.25 billion.

This is stated in the company's announcement on the London Stock Exchange, the Ukrainian News agency reports.

In 2022, the company reduced EBITDA (earnings before taxes, interest, and depreciation) by 47% or USD 674 million year over year to USD 765 million.

At the same time, in 2022, capital investments fell 2.2 times to USD 161 million.

As the Ukrainian News agency earlier reported, in March, the Deposit Guarantee Fund managed to seize the assets of the owner of JSC Finance and Credit Bank Kostiantyn Zhevaho within the scope of securing a claim for compensation of losses of the bank and its creditors for almost UAH 46 billion.

In 2022, Ferrexpo reduced the production of pellets by 46% year over year to 6.1 million tons.

In 2021, Ferrexpo increased profit by 37.1% or USD 235.7 million year over year to USD 870.993 million while increasing revenue by 48.1% or USD 818 million to USD 2.518 billion.

Also, in 2021, the company increased its EBITDA by 67.5%, or by USD 580 million year over year, to USD 1,439 million.

The majority shareholder of the Ferrexpo group is businessman Kostiantyn Zhevaho.