Ferrexpo’s sales revenues down 38 percent in Q1

Swiss-headquartered iron ore miner Ferrexpo, whose main interests are in Ukrainian iron ore assets, has announced its unaudited financial results for the first quarter of 2015.
 
In the given period, Ferrexpo's profit before tax decreased by 50.3 percent to $72 million compared to the first quarter of 2014, while sales revenues of the company totaled $258 million, down 38 percent year on year, with sales volume falling two percent to 2.8 million mt. In the first quarter, Ferrexpo's EBITDA decreased by 41 percent to $112 million compared to the corresponding quarter of the previous year.
 
According to Ferrexpo, during the first quarter the company's capital investment reached $12 million, down 84.6 percent year on year.