Ferrexpolta mielenkiintoinen puolivuotinen. Rautapellettien tuotanto nousi reilusti, kuten oli aiemmin tiedossa:
Isojen firmojen pitää nykyään ostaa sähkönsä naapurimaista. Tämä tulee olettettavasti lisäämään kustannuksia pirun paljon vuoden loppupuoliskolla mikäli tulee kylmä talvi.
Towards the end of the period, the authorities in Ukraine mandated that large enterprises including Ferrexpo to import 80% of their electricity needs from neighbouring European countries. This policy was established in response to Russian attacks on Ukrainian power generation and transmission infrastructure, estimated to have reduced domestic electricity supply capacity by 50%
At the current time, we are sourcing electricity from our European neighbours, however, the costs are higher and indeed quite volatile. For the month of June, this added approximately US$11 a tonne to our C1 costs compared to the previous month, meaning, we expect this to have a greater impact for the remainder of the summer due to continued high prices, until domestic nuclear power comes back on line in the autumn.
ESG-tavoitteet ei unohdu edes sodan keskellä 
Even during a time of war, the Group has not lost sight of its ESG goals, publishing two significant projects: a ‘Life Cycle assessment’ for its FDP pellets and a ‘Double Materiality assessment’.
• Later in the year, the Group intends to release its annual ‘Responsible Business Report’ for 2024, which will be defined by the material topics identified in its the Double Materiality Assessment, and an updated Climate Change report, which will assess scenarios for the Group’s carbon targets in light of the war in Ukraine.
Muutama pienempi oikeuskeissi saatu ratkaistua, mutta tärkeimmät viipyilevät vielä. Summakin on ihan posketon suhteessä yhtiön käteisvaroihin ja varsinkin kun yhtiöllä ei ole tällä hetkellä pääsyä rahoitusmarkkinoille:
The Group recorded as at 31 December 2024 a provision in the amount of UAH4,727 million (approximately US$124 million as at 31 December 2023) in respect of a contested sureties claim made against the Group’s major subsidiary in Ukraine. As the legal proceedings in relation to this claim have not yet been concluded at the time of approval of these interim condensed consolidated financial statements, this provision is still recognised in full as at 30 June 2024 (US$117 million as at 30 June 2024)
No financial debt, other than lease liabilities, due to absence of available
financial markets to the Group
Rautamalmin hinnalle ei odoteta kummoista kehitystä:
Metsolta käytiin ostamassa puristussuodatusteknologiaa 
Capital investment during 1H 2024
While certain capital expenditure plans have been suspended to conserve cash, the Group continues to invest in programmes that can deliver shorter-term efficiency and productivity benefits. For example, in the first half of 2024, the Group installed and started the commissioning of the second stage of its modern press filtration technology at the Pellets Production Workshop at FPM. Manufactured by Metso Corporation, this technology lowers the moisture content in the iron ore concentrate before pellet beneficiation, thereby significantly improving the quality of iron ore pellets by strengthening finished products. The technology also helps to reduce the consumption of natural gas in the process furnace, where raw pellets are heated and dried until they solidify. By optimising gas consumption, the technology allows Ferrexpo to save costs and further reduce Scope 1 emissions.
Oikeuskeissit ovat pelkkää sekoilua kuten Ukrainan tapaisessa korruptoituneessa maassa on tyypillistä. Tällä hetkellä ei ole oikein tiedossa, että milloin nämä ratkeavat:
On 26 January 2024 a Ukrainian court of appeal confirmed the claim against FPM in the amount of UAH4,727 million (30 June 2024: US$116,608 thousand; 31 December 2024: US$124,450 thousand; 30 June 2023: nil). On 30 January 2024, FPM filed a cassation appeal to the Supreme Court of Ukraine and the first hearing was scheduled for 20 March 2024, but the hearing did not take place as the presiding judge recused himself. Following the appointment of a new panel of judges, on 1 April 2024 the Supreme Court suspended the possible enforcement of the decision of the court of appeal. A Supreme Court hearing on 17 April 2024 considered primarily procedural matters and a hearing scheduled for 27 May 2024 was postponed to 17 June 2024. On 17 June 2024, the panel of three judges decided to transfer the consideration of the case to another bigger joint panel of judges. The new panel consists of six judges and the date of the next hearing is unknown.
As part of this September 2023 resolution, the State Bailiff imposed an order to arrest (freeze) 50.3% of the issued share capital of Ferrexpo Yeristovo Mining (“FYM”) and Ferrexpo Bellanovo Mining (“FBM”), owned by Ferrexpo AG (“FAG”), based on the incorrect assumption that these corporate rights are owned by Mr. Zhevago. In reaching this decision to arrest these corporate rights, the State Bailiff relied on conclusions made by the Northern Commercial Court of Appeal in the DGF case described above that Mr. Zhevago is the ultimate beneficial owner of the Ukrainian subsidiaries and that all companies in the Group are just nominal owners of the assets ultimately owned by Mr. Zhevago. FAG filed a civil claim in October 2023 seeking to cancel the order and to block the enforcement procedure initiated by the State Bailiff. On 30 November 2023, the Komsomolskyi Town Court of Poltava Region, a court of first instance, suspended the enforcement procedure, prohibiting the State Bailiff from taking any further actions to forcefully sell FAG’s corporate rights in FYM and FBM. The State Bailiff filed an appeal. On 1 July 2024, the Poltava Court of Appeal cancelled the Komsomolskyi Town Court of Poltava Region’s ruling of 30 November 2023 and, therefore, lifted the interim measures which suspended the actions on potential auction. As a result, the State Bailiff may shortly revert to FYM and FBM with its enquiries to collect data on the value of FYM and FBM, which were previously made in September 2023, in order to prepare the 50.3% of shares in FYM and FBM for the forceful sale (auction). FYM and FBM plan to file cassation appeals to the Supreme Court. In parallel, on 30 May 2024, the court of first instance ruled to resume the proceedings in the case and scheduled a hearing for 16 July 2024. The hearing at the Komsomolskyi Town Court of Poltava region was postponed and the next hearing is scheduled for 17 September 2024. If the enforcement process pursuant to which the September 2023 resolution has been issued is not interrupted, this could ultimately lead to a potential sale of shares representing 50.3% of the issued shares in each of FYM and FBM
Pääomistajalle ilmeisesit tullut tuomio tuomarin lahjonnasta liittyen yhteen aiempaan oikeustapaukseen:
Media in Ukraine reported on 10 July 2024 that the High Anti-Corruption Court (“HACC”) in Ukraine apparently issued a ruling on 10 July 2024 to place the Group’s controlling shareholder into custody in absentia in connection with the suspicion of bribing Ukrainian Supreme Court judges.
Lisää luettavaa: