Business
Full Year Financial Results for 2022
Full Year Financial Results for 2022.
About this update from Ferrexpo Plc
[{"type":"text","content":"\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Ferrexpo plc\n \n \n \n \n (\"Ferrexpo\" or the \"Company\" or the \"Group\")\n \n \n \n \n Full Year Financial Results for 2022\n \n \n \n \n \n \n Ferrexpo plc (LSE: FXPO), a FTSE 250 iron ore pellet producer, announces its audited financial results for 2022.\n \n \n \n Lucio Genovese, Non-executive Chair of Ferrexpo, commented:\n \n \n \n \n \"For Ferrexpo, the year 2022 will be defined not only by the events since 24 February 2022, but also by the resilience and commitment of our workforce and communities across Ukraine throughout Russia's invasion. With more than 95% of our workforce of 10,000 based in Ukraine, we have worked tirelessly to support them, their families and local communities since the start of the war, and we will continue to do so. Through years of investment in our people and our assets, working to build a resilient business, we have fortunately been able to continue to operate for most of the year. In doing so - we have been able to provide humanitarian support to communities across Ukraine, as well as support Ukraine's government via our continued contribution.\n \n \n \n \n \"Operationally, our assets have produced in line with accessible markets, with the closure of Ukraine's access to the Black Sea placing a significant impediment in our ability to access seaborne markets. We did, however, continue to deliver throughout the year to our European customers. This is testament to the long-term, sustainable relationships that we have built with our customer base.\n \n \n \n \n \"Looking to the future, we see positives in Ukraine's potential as a supplier of high grade, high quality iron ore to the global steel industry, particularly in Europe, which is taking significant steps to reduce its greenhouse gas emissions footprint and embark on decarbonisation pathways. As a company with existing capacity to be one of the world's largest producers of blast furnace iron ore pellets, we are well situated to serve this shift in the near-term. Beyond blast furnaces, a number of steelmakers worldwide are looking towards a longer term pathway to Green Steel and electric arc furnaces, with direct reduction pellets representing a known pathway for Green Steel production. As such, we have continued to develop our offering of this particular prod...