Coal Energy increases EBITDA 17% yoy in FY2012

Обзоры по компаниям и отраслям 26.09.2012 Coal Energy (CLE PW) announced preliminary financial results for FY2012 (ended in June), which will be officially published on October 31. The company estimated its 2012 revenue grew 8% yoy to USD 165.5 mln, EBITDA increased 17% yoy to USD 61.7 mln, net debt reached USD 8.5 mln, and CapEx amounted to USD 57.4 mln. Coal Energy said its mining cash costs declined 23% yoy to USD 49.3/t, while its waste processing cash cost more than tripled yoy to USD 26.4/t. Roman Topolyuk: Coal Energy’s preliminary financials indicate it executed its plans to sell off its coal inventories accumulated in 3Q FY12 during the last quarter of its fiscal year. Revenue rose 36% qoq to USD 46 mln in 4Q12, while EBITDA soared 2.1x qoq to USD 19.3 mln. We consider this is a sign of the company’s robust ability to sell coal, despite the turbulent market.