BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - Ferrexpo (FXPO.L) reported that the
Group's result for fiscal 2023 is a loss of $85 million, mainly resulting from
the recognition of provisions for ongoing legal proceedings and disputes in
Ukraine totalling $131 million as at 31 December 2023. Without the effect from
these provisions, the result for the financial year 2023 would have been a
profit of $46 million. This is compared to profit of $220 million in 2022. Loss
per share, in US cents, was 14.41 compared to profit of 37.35. Underlying EBITDA
decreased by 83% to $130 million, mainly due to lower operational performance as
a result of the war and lower operating foreign exchange gains in 2023 compared
to 2022.

Fiscal year Group revenues declined by 48% to $652 million in 2023, mainly due
to restricted access to export routes. Sales volumes were 32% lower at 4.2
million tonnes in 2023.

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