It is reported that Coal Energy boosted revenue 170% YoY in its 2011 financial year ended June 30 to USD 151 million. EBITDA grew 4.1x YoY to USD 52.6 million while net income surged 7.7x YoY to USD 37 million.

According to Phoenix-Capital “The news is positive for CLE PW. The company FY 11 financial performance is generally in line with our projections. The published audited numbers imply an EBITDA margin of 35% and net margin of 24%. These strong development indicators came as a result of robust market prices, combined with doubled underground mining by CLE and more than a fourfold increase in its waste recovery segment, generating high margins. Coal Energy expectations of minimum growth in underground mining in FY12 are close to our current forecast of at least 50% YoY or 1.56 MT of coal extraction.”

(Sourced from www.phoenix-capital.ua)