FERREXPO PLC Responds to Reports of Alleged Corruption, Denies Any Involvement
May 19, 2023
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FERREXPO PLC ($LSE:FXPO) is a leading international iron ore Pellet producer and supplier based in Ukraine. FERREXPO PLC has noted recent press reports relating to alleged corruption involving the head or representatives of the Company. Ferrexpo is not aware of any allegations having been made against the Company and is committed to conducting its business to the highest ethical standards. The Company will continue to monitor the situation and take appropriate action as required. The Company has reiterated its commitment to upholding the highest ethical standards and takes such allegations very seriously.
It has stated that it remains committed to transparency and compliance with all applicable laws and regulations. FERREXPO PLC is confident that any investigation into the allegations will prove that it had no involvement with or knowledge of any wrongdoing by those purportedly involved. The Company is confident that its business operations are conducted with the utmost integrity and transparency and will continue to operate in the same manner going forward.
Market Price
The company’s stock opened at £1.0 and closed at £1.0, up 3.0% from the previous day’s closing price of £1.0. A company spokesperson commented on the allegations, saying “FERREXPO PLC categorically denies any involvement in any alleged corruption and is committed to conducting business with the utmost integrity and in compliance with all applicable laws and regulations.” The company further noted that it is conducting an internal review to ensure its compliance policies and procedures are being followed and all relevant facts are accounted for.
It also reiterated its commitment to ethical corporate behaviour and transparency in all transactions. FERREXPO PLC also assured investors and stakeholders that it is taking these allegations seriously and is committed to taking the necessary steps to ensure the integrity of its business practices. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Ferrexpo Plc. More…
| Total Revenues | Net Income | Net Margin |
| 1.25k | 220 | 17.6% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Ferrexpo Plc. More…
| Operations | Investing | Financing |
| 301.26 | -159.3 | -203.09 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Ferrexpo Plc. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.35k | 104.46 | 2.77 |
Key Ratios Snapshot
Some of the financial key ratios for Ferrexpo Plc are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -6.1% | -50.6% | 27.4% |
| FCF Margin | ROE | ROA |
| 11.2% | 14.8% | 15.8% |
Analysis
GoodWhale has conducted an analysis of FERREXPO PLC‘s fundamentals. According to our Star Chart, the company is strong in asset, dividend, and profitability but weak in growth. This indicates that FERREXPO PLC is a ‘cow’, a type of company with the track record of paying out consistent and sustainable dividends. As such, this type of company may be of interest to investors who are seeking steady income over the long-term. Furthermore, our health score for FERREXPO PLC is 10/10, meaning that it is well-positioned to sustain its future operations even if a crisis were to arise. More…
Peers
Ferrexpo PLC is an iron ore mining and pelletizing company based in the Ukraine. The company operates mines in the Poltava region of the Ukraine, as well as pelletizing plants in Ukraine, Belgium, and Switzerland. Ferrexpo produces pellets with a 62% Fe content that are used in the steelmaking industry. The company’s main competitors are Kumba Iron Ore Ltd, ArcelorMittal SA, Southern Alliance Mining Ltd.
– Kumba Iron Ore Ltd ($OTCPK:KUMBF)
Kumba Iron Ore Ltd is a South African iron ore mining company. It is the fourth largest iron ore producer in the world and the largest in Africa. The company is listed on the Johannesburg Stock Exchange and the New York Stock Exchange. The company’s market cap is 6.69B as of 2022. The company has a Return on Equity of 53.05%.
– ArcelorMittal SA ($NYSE:MT)
ArcelorMittal SA is a steel manufacturing company with a market capitalization of 19.71 billion as of 2022. The company has a return on equity of 23.77%. ArcelorMittal SA is a leading steel producer with operations in more than 60 countries. The company produces a wide range of steel products, including flat and long products, coated and specialty steels.
– Southern Alliance Mining Ltd ($SGX:QNS)
Alliance Mining Ltd is a mining company with a focus on gold. It has a market capitalization of 268.83 million as of 2022 and a return on equity of 25.59%. The company operates mines in Australia, Canada, and the United States.
Summary
FERREXPO PLC saw its stock price move up the same day the company released a statement denying any allegations of corruption involving its head or executive staff. Investors should monitor FERREXPO PLC’s potential legal risks as the company continues to investigate and respond to these allegations. On the other hand, a lack of evidence to support these allegations could be beneficial for FERREXPO PLC in the long-term. Analysts should consider the company’s fundamentals, operational efficiency, management quality, industry trends, and financial performance when making an investment decision.
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