RASPADSKAYA
PAO Raspadskaya (MICEX: RASP; '
Q4 2019 highlights
In Q4 2019, total raw coal production at the Company's enterprises dropped by 9% QoQ to 2.7 million tonnes. This result was largely due to a 10% QoQ fall in raw coal production at the
Coal concentrate sales were down, primarily due to a 48% QoQ reduction in export sales. This was mainly caused by the exhaustion of
FY 2019 highlights
In FY 2019, the Company's total raw coal production edged up by 1% YoY to 12.8 million tonnes. The overall increase was primarily due to a 15% YoY rise in production at the
During the reporting period, work at the open-pit site at the Raspadskaya-Koksovaya mine remained stable at the level of its annual production capacity of 1.5-1.6 million tonnes of raw coal. Beginning in Q3 2019, raw coal production at the Razrez Raspadsky open-pit mine was limited to exclude low-margin shipments and increase warehouse stockpiles amid reduced prices and export sales margins.
Total sales of concentrate climbed by 4% YoY to 7.7 million tonnes during the year. The growth was largely driven by the overall increase in raw coal production, as well as the Company's logistics efforts aimed at maximising export shipments in Q1 and Q2 2019.
Raw coal sales surged by 24% YoY as shipments to
The share of coal concentrate exports in the sales structure during FY 2019 was 64%, or 5.4 million tonnes, of which 79% was shipped to countries in the
The weighted average price of concentrate fell in line with global benchmarks in 2019, including by 21% to export destinations. During the reporting period, raw coal sales prices rose on the Russian market due to the higher share of the premium K and OS coal grades in shipments.
About the Company
PAO Raspadskaya is an integrated group of coal mining and enrichment facilities located in the Kemerovo region of
Contact:
Tel: +7 495 937 6871
The information in this press release represents the expected results of PAO Raspadskaya operations for the given period. It was compiled based on the latest preliminary unaudited operational and financial data. The information represents a preliminary assessment only, which might be further adjusted based on financial, fiscal and business reporting once it becomes available. The information regarding the Company's operational results in this press release depends on many external factors and therefore, provided all permanent obligations and best practices under international listing rules are unconditionally observed, cannot qualify for accuracy and completeness and should not be regarded as a basis for investing in PAO Raspadskaya. As such, the actual results and indicators may significantly differ from any declared or forecast operational results. PAO Raspadskaya assumes no obligation and expressly declares that it has no such obligation to update or change any declarations concerning any future results due to new information obtained, any future events or for any other reasons.
(C) 2020 Electronic News Publishing, source
