Raspadskaya (Mezhdurechensk, Kemerovo region), one of the leading Russian coking coal companies controlled on parity by Evraz Group and its own senior management led by CEO Gennady Kozovoy, announced preliminary operating results for the fourth quarter and for the entire 2009. Coal production grew by 12 per cent, from 9.4 to 10.5 m t, against 2008.
Sales volume of coal concentrate in 4Q2009 rose by 10 per cent against 3Q2008, up to 2.47 m t, the same increase showed 2009 (amounting to 7.71 m t). The bulk of sales fell on the domestic market, especially in the last quarter. Moreover, last year the company increased the share of exports up to 28 per cent, the share of Asian exports covering 38 per cent of total exports.
While the company experienced problems in 1Q2009 induced by low demand, the second and later quarters brought both growth and profit.
In the first halfyear Raspadskaya managed to maintain high profitability (43 per cent, EBITDA) mostly due to its lower costs, decreased by 13 per cent against the first halfyear of 2008.