RASPADSKAYA Q2 2016 | Q1 2016 | Q2 2016 / Q1 2016 ± % | Q2 2015 | Q2 2016 / Q2 2015 ± % | H1 2016 | H1 2015 | H1 2016 / H1 2015 ± % | ||
Total raw coal production | kt | 2,627 | 2,256 | 16% | 2,270 | 16% | 4,883 | 5,072 | -4% |
Sales | |||||||||
Concentrate - Russia | kt | 622 | 598 | 4% | 897 | -31% | 1,220 | 1,643 | -26% |
Concentrate - export | kt | 967 | 925 | 5% | 713 | 36% | 1,893 | 1,692 | 12% |
Total sales of concentrate | kt | 1,589 | 1,523 | 4% | 1,610 | -1% | 3,113 | 3,335 | -7% |
Total sales of raw coal1 | kt | 60 | 67 | -10% | 214 | -72% | 128 | 294 | -57% |
Weighted average price of concentrate2 | RUB/t | 3,053 | 3,208 | -5% | 3,108 | -2% | 3,129 | 3,167 | -1% |
Exchange rate | RUB/USD | 65.89 | 74.63 | 52.65 | 70.26 | 57.40 | |||
1 Hard coking coal | |||||||||
2 FCA Mezhdurechensk; the prices for Q2 and H1 2016 are preliminary and may differ immaterially from the final ones | |||||||||
In Q2 2016, raw coal production totalled 2.6 million tonnes, up 16% quarter-on- quarter, driven mainly by greater output at Razrez Raspadsky (up 25% quarter-on- quarter) and the Raspadskaya mine (up 14% quarter-on-quarter).
In Q2 2016, sales of coking coal concentrate equalled 1.6 million tonnes, up 4% quarter-on-quarter.
Domestic sales of concentrate amounted to 622 thousand tonnes, up 4% quarter-on- quarter, as shipments to major Russian metals producers rose.
Concentrate exports reached 967 thousand tonnes, up 5% quarter-on-quarter, mainly due to greater sales on the premium markets of Japan and South Korea. The share of exports in concentrate sales remained unchanged at 61%.
The weighted average selling price of concentrate in ruble terms fell by 5% quarter- on-quarter overall, increasing by 3% quarter-on-quarter on the domestic market and decreasing by 12% quarter-on-quarter for exports due to the ruble appreciation. The overall decline was partly offset by a rise in global prices for coking coal.
H1 2016 highlightsIn H1 2016, raw coal production totalled 4.9 million tonnes, down 4% quarter-on- quarter, due to some operations being suspended:
the high-cost MUK-96 mine, as part of a cost-saving drive in Q2 2015;
field no. 1 at Raspadskaya-Koksovaya, after carbon monoxide was detected in Q3 2015.
In H1 2016, raw coal production of the assets in operation (the Raspadskaya mine, Razrez Raspadsky and field no. 2 at Raspadskaya-Koksovaya) rose by 15% year-on- year.
Field no. 2 at Raspadskaya-Koksovaya continues to develop its mining of premium K- grade coal.
In H1 2016, sales of coking coal concentrate equalled 3.1 million tonnes, up 7% year- on-year, caused largely by the overall fall in raw coal production.
Domestic sales of concentrate amounted to 1.2 million tonnes, down 26% year-on- year, driven mainly by:
a halt in KO-grade coal production due to the suspension of operations at field no. 1 at Raspadskaya-Koksovaya;
an increase in the share of consumption of own coal from captive suppliers by major Russian metals producers.
The resulting additional concentrate volumes were redirected to other domestic clients and premium markets in Southeast Asia (Japan and South Korea).
Exports accounted for 1.9 million tonnes, or 62%, of the Company's overall concentrate sales in H1 2016. Of this, 85% went to the Asia-Pacific region and 15% to Europe. The rise in concentrate exports was due to increased sales on premium markets in the Asia-Pacific region.
In H1 2016, raw coal sales totalled 128 thousand tonnes, down 51% year-on-year, due to the suspension of operations at field no. 1 at Raspadskaya-Koksovaya and MUK-96, whose coal was partly sold raw.
In H1 2016, the weighted average selling price of concentrate in ruble terms increased by 7% year-on-year on the domestic market and decreased by 2% year-on- year for exports, due to the a halt in KO-grade coal production from field no. 1 at Raspadskaya-Koksovaya. Overall, the weighted average selling price of concentrate fell by 1% year-on-year in ruble terms.
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Raspadskaya is an integrated group of coal mining and enrichment facilities located in the Kemerovo region of Russia. It comprises three underground mines, one open-pit operation, a coal preparation plant, and several coal transportation and production infrastructure enterprises. Raspadskaya is a subsidiary of EVRAZ, a major vertically integrated steel, mining and vanadium company.
* * * For more information, visit www.raspadskaya.ru or contact:
Media Relations Maria Starovoit London: +44 207 832 8998 Moscow: +7 495 937 6871 pressa@raspadskaya.com | Investor Relations Kirill Vinokurov London: +44 207 832 8990 Moscow: +7 495 232 1370 ir@raspadskaya.ru |
The information in this press release represents the expected results of PAO Raspadskaya operations for the given period. It was compiled based on the latest preliminary unaudited operational and financial data. The information represents a preliminary assessment only, which might be further adjusted based on financial, fiscal and business reporting once it becomes available. The information regarding the Company's operational results in this press release depends on many external factors and therefore, provided all permanent obligations and best practices under international listing rules are unconditionally observed, cannot qualify for accuracy and completeness and should not be regarded as a basis for investing in PAO Raspadskaya. As such, the actual results and indicators may significantly differ from any declared or forecast operational results. PAO Raspadskaya assumes no obligation and expressly declares that it has no such obligation to update or change any declarations concerning any future results due to new information obtained, any future events or for any other reasons.
OAO Raspadskaya published this content on 21 July 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 28 July 2016 08:21:02 UTC.
Original documenthttp://www.raspadskaya.com/press-center/press-releases/?id=311
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