Ferrexpo has reduced gross debt to US$343 million and increased cash to US$169 million. As a result of the strong cash flow and resulting liquidity position, the Group has announced a further interim dividend of 6.6 US cents per Ordinary Share payable on 26 August 2020 to shareholders on the register at the close of business on 14 August 2020. The ex-dividend date will be 13 August 2020. All dividends are paid in UK Pounds Sterling, with an election to receive in US Dollars.
Other financial highlights include:
Pellet production and sales volumes up 5% and 22% respectively
Revenues of US$776 million (1H 2019: US$787 million) reflecting lower pellet premiums
Underlying EBITDAA US$352 million (1H 2019: US$372 million)
EBITDA margin 45% (1H 2019: 47%)
Profit after tax of US$250 million (1H 2019: US$270 million)
Net debt A US$174 million (31 December 2019: US$282 million)
Net debt A to last twelve months' EBITDA ratio down to 0.31x, compared to 0.48x at 31 December 2019
Capital investment US$96 million (1H 2019: US$114 million)
