Czech-based hard coal and coke producer New World Resources NWR (NWR) announced on August 26 its interim financial results for the six-month period ended June 30, 2010.
In the given period, NWR's revenues increased by 48 percent year on year to €716 billion. Coal mining segment revenues were up 32 percent while coking segment revenues were up 177 percent.
The company's EBITDA reached €169 million in the first half, increasing 122 percent compared to the same period of last year.
Coal production fell slightly year on year from 5.5 milliion mt to 5.4 million mt. Total external sales reached 4.9 million mt of coal and 612,000 mt of coke, up 16 percent and 107 percent year on year respectively.
Commenting on the results, the company said, "NWR's strong performance in the first half of 2010 continues to reflect the improving environment in our markets. Revenues have risen as a result of an increase in sales volumes and higher prices for coking coal and coke and this has led to a return to profitability"