SunCoke Energy Inc has announced fourth quarter and full year 2011 results.
Consolidated results
| | Q4 '11 | Q4 '10 | Change |
| Revenues | 424.1 | 317.2 | 33.7 |
| Operating income | 11.7 | 15.8 | -25.9 |
| Adjusted EBITDA | 31.4 | 34.6 | -9.2 |
| Net income attributable to shareholders | 8 | 18.5 | -56.8 |
In USD million
| | FY '11 | FY '10 | Change |
| Revenues | 1,538.9 | 1,326.5 | 16.0 |
| Operating income | 67.5 | 174.2 | -61.3 |
| Adjusted EBITDA | 140.5 | 227.3 | -38.2 |
| Net income attributable to shareholders | 60.6 | 139.2 | -56.5 |
In USD million
Mr Fritz Henderson chairman & CEO of SunCoke Energy Inc said that "In 2011, we took action to address key challenges and established a solid foundation that we expect will drive future growth for our shareholders now that we are an independent, public company. Our full year 2011 Adjusted EBITDA of USD 141 million fell short of our expectations, reflecting the impact of the ArcelorMittal contract amendment, operating challenges and accounting adjustments at Indiana Harbor, expenses associated with becoming a public company and relocation costs."
Mr Henderson continued that "The operational improvements we made in early 2011 delivered more consistent performance in our existing domestic coke making operations in the second half of the year. In 2012, we expect to build on this momentum with production from our new Middletown operations. While our coal mining results were below our internal goals in 2011, we still mined our highest volume of coal to date. We are seeing early signs that our focus on optimizing our coal mining operations is gaining traction."
