Raspadskaya Coal Company (Raspadskaya), one of the largest coking coal producers in Russia, has announced its consolidated IFRS (International Financial Reporting Standards) financial results for 2016.
In the given year, Raspadskaya registered a net profit of $185 million, compared to a net loss of $126 million in 2015, while its sales revenue increased by 20 percent year on year to $502 million. The company's adjusted EBITDA totaled $204 million in 2016, indicating an increase of 92 percent year on year, positively affected by an increase in revenues caused by higher global and domestic coking coal price. Its adjusted EBITDA margin, which had been 25.3 percent in 2015, rose to 40.6 percent in 2016.
In the reporting period, the company increased the share of sales to the Asia-Pacific region, from 48 percent in 2015 to 52 percent in 2016, successfully expanding its client base there, including in Japan and South Korea. In the current year, Raspadskaya will focus on diversifying its sales geography and maintaining balance between long-term contracts and spot deliveries.