Ferrexpo reinstates its dividend

DividendMax Ltd.

Ferrexpo reinstates its dividend

Financial

EBITDA up 20% to US$375M (2015: US$313M) on higher revenues and lower costs

Operating profit, excluding foreign exchange gains, up 36% to US$307M (2015 US$225M)

Profit before tax up US$206M to US$231M (2015: US$25M)

Net cash flows from operating activities up 159%, or US$204M, to US$332M (2015: US$128M)

Balance sheet significantly strengthened

Net debt reduced 32% to US$589M as of 31 December 2016 (31 December 2015: US$868M)

Net debt to EBITDA 1.57x as of 31 December 2016 (as of 31 December 2015: 2.78x)

Cash balance increased by US$110M to US$145M as of 31 December 2016 (31 December 2015: US$35M)

Dividend reinstated - final ordinary dividend of 3.3 US cents per share proposed (2015: nil) and special dividend of 3.3 US cents per share (2015: nil) payable on the 11 April 2017

Companies mentioned