Quotations of Ferrexpo shares keep falling for 3rd week in a row, down 7.9% to GBP 0.745 per share February 19

In the period of February 19-23, the quotations of shares of Ferrexpo plc (United Kingdom), which controls Poltava Mining and Yeristovo Mining (both located in Horishni Plavni, Poltava Region), at the London Stock Exchange decreased by 7.9% or GBP 0.064 per share to GBP 0.745 per share, falling for the third week in a row.

That follows from the data posted at the London Stock Exchange, Ukrainian News Agency reports.

According to the report, on February 19, the shares of the company were quoted at the level of GBP 0.809 per share; on February 20, they decreased to GBP 0.758 per share; and on February 21, they further fell to GBP 0.751 per share.

On February 22, the share quotations decreased to GBP 0.750 per share; and on February 23, they further fell to GBP 0.745 per shares.

The transactions were being conducted throughout the week.

Since the start of the year, the company's share quotations have decreased by 17.5% (compared to the level of quotations on December 29, 2023 - GBP 0.903).

As Ukrainian News Agency earlier reported, in the period of February 12-16, the quotations of shares of Ferrexpo plc at the London Stock Exchange decreased by 8.6% or GBP 0.076 per share to GBP 0.806 per share, falling for the second week in a row.

In the period of December 31, 2022 - December 31, 2023, the quotations of shares of Ferrexpo plc at the London Stock Exchange fell by 42.6% or GBP 0.669 per share to GBP 0.903 per share.

In the first six months of 2023, Ferrexpo plc decreased its profit three times, or by USD 55.1 million, to USD 27 million, reducing earnings 2.8 times, or by USD 601.9 million, to USD 334 million year over year.

In the first six months of 2023, the company reduced EBITDA (Earnings before Taxes, Interest, and Depreciation) 7.6 times or by USD 422 million year over year to USD 64 million, reflecting rising costs mainly due to lower output, rising global inflation and energy prices.

Capital investment in the 1st half of the year decreased by 43% to USD 58 million.

Kostiantyn Zhevaho is the majority shareholder of Ferrexpo.