Full Year 2018 Ferrexpo PLC Earnings Call Transcript
Good morning, ladies and gentlemen, and thank you for standing by. Welcome to today's Ferrexpo 2018 Preliminary Results Announcement. (Operator Instructions) I must advise you, the conference is being recorded today.
I'd now like to turn the conference over to your first speaker today, Steve Lucas. Please go ahead.
Thank you very much, operator. Thank you, everyone, for joining this morning's results call for Ferrexpo.
In 2018, Ferrexpo continued to benefit from strong demand for its product, receiving record pellet premiums, and so far in 2019, realized prices have continued at high levels. While our 2018 results were impacted by higher cost inflation, we continued to increase capital investment, reduce leverage and announce record dividends for the company.
Ferrexpo continues to operate competitively in a favorable market segment, which underpinned its cash flow generation. Given the company's low leverage, the Board now feels it is appropriate to readjust the use of available
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