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13 September 2017

SUEK EBITDA for 2017 could reach $1.6-1.7bn

SUEK EBITDA for 2017 could reach $1.6-1.7bn, the main shareholder of the company, Andrey Melnichenko, told journalists. "Net profit is trickier to forecast, but I see EBITDA of $1.6-1.7bn", he said. In 1H2017, SUEK saw its net profit increase 3.6-times to $322m, sales grew 1.5 times to $2.66bn, while profit before tax increased fourfold to $426m. SUEK is one of the world's top 10 producers and exporters of coal and is Russia's largest coal producer. In 2016, the Group produced 105.47 million tonnes of coal (7.9% more than in 2015) and coal export volumes amounted to 51.9 million tonnes. The company’s production assets are located in seven regions of the Russian Federation, and include 15 open pits mines, 12 underground mines, nine beneficiation plants and facilities, as well as three ports where the company is one of the main shareholders. In the Kuzbass region, SUEK increased production by 7.7 million tonnes to 37.7 million tonnes of coal.

Source: TASS
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