Kuzbasskaya Toplivnaya Company, literally translated as the Kuzbass Fuel Company, saw coal production rise six percent to 11.68 million tons in 2016 from 11 million tons in the previous year, the entity reported on February 1, 2017.
The company’s output increased some five percent to 10.12 million tons, all the while coal processing went up six percent to 8.83 million tons. The proportion of coal in the company’s output stood at 87 percent.
The sales of coal rose by four percent to 11.11 million tons. Exports stood at 7.47 million tons, comprising 67 percent of total sales. Sales on the Russian market fell eight percent to reach 3.63 million tons.
Kuzbasskaya Toplivnaya Company, which is based in the Kemerovo region, is among the biggest coal-mining companies in Russia. It operates coal strip mines Vinogradovskiy, Karakanskiy-Yuzhniy, and Cheremshanskiy, in addition to the transportation company TEK Meret and the fuel-supplying enterprises in the Kemerovo, the Novosibirsk, and the Omsk regions, as well as in the Altai krai. The company also runs a heat power plant Kaskad-Energo.
The IFRS (International Financial Reporting Standards) net loss of Kuzbasskaya Toplivnaya Company for the first nine months of 2016 stood at RUB151 million (USD2.7 million), against a profit of RUB134 million (USD2.3 million) reported in the previous year. Company revenues increased by 3.35 percent to RUB18.269 billion (USD325 million) from RUB17.676 billion (USD314 million), while operating profits decreased 7.34 times to RUB152 million (USD2.7 million) from RUB1.116 billion (USD19.8 million). The company’s loss before tax was RUB159 million (USD2.8 million), against a profit of RUB522 million (USD9.3 million) for the initial nine months of 2015.
The RAS (Russian Accounting Standards) net profit of Kuzbasskaya Toplivnaya Company for the first nine months of 2016 decreased 3.85 times to RUB282.533 million (USD5 million) from RUB1.088 billion (USD19 million) for the corresponding period of 2015. Revenues increased by 1.28 percent to RUB15.204 billion (USD270 million) from RUB15.012 billion (USD266 million). Sales profits decreased 6.26 times to RUB300.937 million (USD5 million) from RUB1.883 billion (USD33 million), and pre-tax profits declined 7.27 times to RUB195.563 million (USD3 million) from RUB1.421 billion (USD25 million).
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