December 02, 2008

Raspasdaskya H1 net profit surges

RBC reported that Raspadskaya's net profit under IFRS during the H1 of 2007 surged 1.8 times to USD 90.419 million as compared to H1 of 2006.

Raspadskaya revenue during the H1 of 2007 up by 55% YoY to USD 338.834, gross profit jumped almost 1.9 times to USD 195.705 million, EBIT increased 1.8 times to USD 136.127 million, while EBITDA rose by 66% YoY to USD 198.844 million.

Raspadskaya's coal output during the perion up by 29% YoY to 6.6 million tonnes and is expected to reach 13 million tonnes by the end of the year, with coal concentrate sales to rise 38.5% to 9 million tonnes.

Mr Gennady Kozovoi GD of Raspadskaya noted that the robust growth figures the company reported for the first six months of 2007 set the pace for the entire year. The company management expects the results for the following year to be as good or better.