• Ferrexpo published its annual report for 2025, highlighting disruption from withheld VAT refunds, higher power costs, logistics constraints.
• Operations were scaled back, including reduced pellet-line utilisation, temporary shutdowns late in the year due to attacks on energy infrastructure.
• Sales strategy pivoted toward premium concentrates, expanding seaborne shipments via Ukrainian Black Sea ports when accessible, diversifying customers and geographies.
• Working capital pressure persisted, with net VAT receivables in Ukraine exceeding USD 88 million as of June 30, 2026.
• Management flagged plans for an equity capital raise of about USD 100 million to support working capital and ongoing operations.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Ferrexpo plc published the original content used to generate this news brief on September 03, 2026, and is solely responsible for the information contained therein.