Raspadskaya makes a net loss in 2012

In 2012 Raspadskaya obtained $31 million loss due to reduction of coal prices and demand for the product. A year ago the company’s results proved to be better even after the accident in the pit of the same name. Now Raspadskaya is going to increase coal mining by one third – to 9.5-10 million tons and increase export to 40%. Experts note, this is a right step, though the company will have to stand the period of low margin in conditions of low prices, Kommersant reports.

The Raspadskaya coal company (82% belong to Evraz) summarized its IAS results of 2012. The proceeds reduced by 25% to $532 million, EBIDTA – by 56% to $140.8 million, EBIDTA profitability made up 26% (against 44% in 2011). The company’s loss made up $30.98 million against the profit of $135.7 million in 2011. In 2012 the dynamics of the financial results proved to be worse than in 2011 even in spite of the consequences of the accident at the largest mine of the company. Then the proceeds of the company reduced only by 3.5% and Raspadskaya remained profitable.