Half Year 2020 Ferrexpo PLC Earnings Call Transcript
Ladies and gentlemen, thank you for standing by, and welcome to the Ferrexpo Plc 2020 Interim Results Presentation. (Operator Instructions)
I must also advise you that this conference is being recorded today. And now I would like to hand the conference over to your speaker today, Steve Lucas. Please go ahead, Steve.
Thank you, Erica. Thank you for joining us today for Ferrexpo's Interim Results for the first half of 2020. The interim results released this morning demonstrate the continued strength of our strategy and the resilience of the business. Operating with minimal disruption due to COVID-19 and seeing near record levels of first half production and sales. The company has continued to show strong cash generation with EBITDA in excess of $350 million for the second successive first half year, despite a fall from the record pellet premiums that were seen in the first half of 2019.
Alongside this robust profitability, there has been an increase in the group's cash balance, reduced gross
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