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 2017.
In the given year, Raspadskaya registered a net profit of $319 million, compared to a net profit of $185 million in 2016, while its sales revenue increased by 73 percent year on year to $868 million. The company's adjusted EBITDA totaled $455 million in 2017, rising by 123 percent year on year. Its adjusted EBITDA margin, which had been 40.6 percent in 2016, rose to 52.4 percent in 2017.
The company stated that in the given year the main factor influencing its EBITDA growth was the rise in revenues, driven by higher coking coal prices both internationally and in Russia, as well as greater coal product sales.