Coal Energy EBITDA down 46% qoq in January-March 2012

Обзоры по компаниям и отраслям 25.05.2012 Coal Energy (CLE PW) revenue increased 6.5% yoy to USD 116 mln in 9MFY12 while EBITDA was up 5.0% to USD 42 mln and net income declined 15% yoy to USD 25 mln. In 3Q alone, revenue decreased 21% qoq to USD 34 mln, EBITDA fell 46% qoq to USD 9 mln (margin down 13 pp qoq to 27%) and bottom line dropped 2.8x qoq to USD 4.4 mln. One of the factors behind weaker financials was a 5.5% qoq advance in mining costs to USD 53.7/t. Coal Energy explained that worsening bottom line is also due to lower coal prices and weaker demand, but they expected to improve in the coming quarters. The company’s net debt stood at a negative USD 8.6 mln at end-March.