{
  "id": 9798517,
  "title": "Ferrexpo slashes H1 net loss 13-fold with revenue falling 2.3-fold",
  "url": "https://urgent.news/2026/09/25/ferrexpo-slashes-h1-net-loss-13-fold-with-revenue-falling-2-3-fold",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-25T17:37:21.000Z",
  "source": {
    "name": "Interfax-Ukraine",
    "slug": "interfax-ukraine",
    "url": "https://en.interfax.com.ua/news/economic/1210207.html"
  },
  "original_language": "en",
  "account": "Mining company Ferrexpo reported a dramatic reduction in its first-half 2026 net loss from $14.9 million, a 13.2-fold decrease from the same period in 2025, according to the company's Friday report. Revenue dropped 2.3 times to $196 million, driven by lower sales volumes, while EBITDA turned negative at $4 million, compared to positive EBITDA of $4 million in the first half of 2025. The company attributed the decline to reduced sales volumes, lower selling prices, and higher production costs. Ferrexpo also noted a significant reduction in capital expenditures to $10 million from $28 million in the same period last year, with 88% of these funds allocated to operational maintenance and 12% to development projects. The prolonged delay in VAT refunds and resulting financial liquidity issues forced the group to cut production volumes to a single pellet production line. Total commercial production in the first half of 2026 was 1.556 million tonnes, a 40% drop from the previous half-year period and 54% from the first half of 2025. The production mix shifted to 89% pellets and 11% concentrate from 61% and 39%, respectively, in the first half of 2025. Interim Executive Chair Lucio Genovese highlighted that a successful $100 million equity raise in early September significantly improved the group's liquidity position, offering greater financial resilience and flexibility to manage ongoing operational and financial pressures. However, the company emphasized that the additional capital does not eliminate the underlying challenges posed by the continued withholding of VAT refunds, the ongoing war in Ukraine, logistics and energy infrastructure constraints, and the need for disciplined cash and working capital management.",
  "summary": "Mining company Ferrexpo, which owns assets in Ukraine, ended the first half of 2026 with a net loss of $14.9 million, 13.2 times lower than the figure for the first half of 2025, according to the company's report published on Friday.",
  "key_points": [
    "Ferrexpo's H1 2026 net loss reduced 13-fold to $14.9 million",
    "Revenue fell 2.3-fold to $196 million due to lower sales volumes",
    "Production volumes cut to single line amid VAT refund delays"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}