Swiss-headquartered iron ore miner Ferrexpo, whose main interests are in Ukrainian iron ore assets, has announced its financial results for 2012.
In the given period, Ferrexpo's net profit decreased by 62.5 percent to $215.6 million compared to the previous year. Sales revenues of the company totaled $1.42 billion, down 20.4 percent year on year, due to lower market prices for iron ore. In 2012, the average benchmark price for 62 percent Fe iron ore fines to China CFR fell by 23.8 percent to $128/mt compared to an average of $168/mt in 2011. In the given year, Ferrexpo's EBITDA decreased to $401.5 million, down 49.9 percent compared to the corresponding period of the previous year.
In 2012, Ferrexpo's capital investment increased by 13 percent to $429 million, compared to $380 million in the previous year.