In H1 of 2013, Kuzbass fuel company decreased its net profit 13.6 times

In the first six months of 2013, the proceeds of Kuzbass fuel company (KTK) fell by 27% to 9.584 billion rubles, and EBITDA by 33% to 987 million rubles.

On the results of the first six months of 2013, the company showed decrease of its proceeds, EBITDA rate and net profit in conditions of low prices on export markets and traditional seasonal decrease of the demand for power generating coal on the domestic market. But against the background of the decrease of prime cost and industrial money expenditures, the company shows the positive financial result in the first six months. The main influence on the volume of the net profit was made by the loss in the second quarter, connected with exchange difference on credits, nominated in currency, to the amount of 228 million rubles. Earlier the company showed the loss in the amount of 275 million rubles in the second quarter of 2010 and 294 million rubles in the second quarter of 2012,” – the KTK’s First Deputy General Director Eduard Alekseenko reported.