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 2015.
In the given year, Raspadskaya registered a net loss of $126 million, decreasing from a net loss of $306 million in 2014, while its sales revenue decreased by five percent year on year to $419 million. The company's adjusted EBITDA totaled $106 million in 2015, indicating an increase of 141 percent year on year, mainly due to the significant increase in production at the Raspadskaya mine, which rose by 35 percent year-on-year to 1.4 million mt following the completion of restoration work in 2014. Its adjusted EBITDA margin, which had been 9.9 percent in 2014, rose to 25.3 percent in 2015.
According to Raspadskaya, in 2016 it expects to mine around 10 million mt of coal overall.