Ferrexpo plc (LSE: FXPO), the world's third largest exporter of high grade iron ore pellets to the global steel industry, with operations in central Ukraine, announces that following consultation with the Financial Conduct Authority, the deadline for publishing the Company’s full year results for the year ended 31 December 2021 (the “Results”) has been extended to 30 June 2022. This extension has been implemented due to the ongoing uncertainty relating to Russia’s invasion of Ukraine and the impact this has had on the ability of the Company to complete all necessary workstreams in relation to the Results.
At the present time, given the uncertainties surrounding the situation in Ukraine, the Group remains unable to provide a date as to when the Company's full year financial accounts for 2021 will be published.
Jim North, CEO of Ferrexpo commented:
“The situation in Ukraine is unprecedented for Ferrexpo and unpredictable. The decision to utilise the available reporting extension has been taken in light of the significant uncertainty that the Group currently has in its near-term outlook, as well as the Group’s ability to conclude its financial accounts and for the Group’s independent auditors to complete their audit procedures. Notwithstanding the on-going and fast-moving nature of events in Ukraine, the extension to 30 June 2022 will allow us additional time to work towards completing the necessary workstreams for the publication of our full year results.
“In the meantime, we will maintain our current focus on protecting our workforce and local communities, whilst also continuing to contribute to the Ukrainian economy through our production of iron ore pellets. We will look to publish our accounts as soon as the situation in Ukraine permits us to do so.”
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For further information, please contact:
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+44 207 920 3150
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Notes to Editors:
Ferrexpo is a Swiss headquartered iron ore company with assets in Ukraine and a premium listing on the London Stock Exchange in the FTSE 250 index (ticker FXPO). The Group produces high grade iron ore pellets, which are a premium product for the global steel industry and enable reduced carbon emissions and increased productivity for steelmakers when the Group’s iron ore pellets are converted into steel, compared to more commonly traded forms of iron ore. Ferrexpo’s operations have been supplying the global steel industry for over 40 years and in 2021 the Group produced 11.2 million tonnes of iron ore pellets, placing Ferrexpo as the world’s 3rd largest exporter of pellets to the global steel industry with a market share of approximately 9%. The Group has a global customer base comprising of premium steel mills around the world, which includes steel mills in Austria, Germany, Japan, South Korea, Taiwan, China, Slovakia, the Czech Republic, Turkey, Vietnam and America. For further information, please visit www.ferrexpo.com.