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Interfax.com  |  Interfax news  |  SUEK-Kuzbass swings to 4.2 bln ruble loss in 2013


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February 03, 2014 19:35

SUEK-Kuzbass swings to 4.2 bln ruble loss in 2013

KEMEROVO. Feb 3 (Interfax) - OJSC SUEK-Kuzbass (MOEX: SKZB) posted a net loss of 4.2 billion rubles in 2013 under Russian accounting standards compared with a net profit of 3.67 billion rubles in 2012, according to the company's financial reporting.

Revenue rose 14% to 60.492 billion rubles last year.

The materials do not pinpoint the reasons for the loss.

Key financial indicators for SUEK-Kuzbass (mln rubles):

2013 2012
Revenue 60 492 53 047
Cost 32 039 26 782
Gross profit 28 453 26 265
Profit (loss) on sales (2 899) 6 760
Pretax profit (loss) (5 011) 5 129
Net profit (loss) (4 236) 3 672

Receivables declined to 2.981 as of December 31, 2013 from 4.883 billion rubles a year earlier. Long-term liabilities fell to 12.517 billion rubles from 18.732 billion rubles. Short-term liabilities rose to 34.320 billion rubles from 20.352 billion rubles.

SUEK, Russia's biggest coal company by output, has about a 30% share of Russia's coal market and accounts for about 25% of Russian experts of thermal coal.

SUEK-Kuzbass was created as part of the restructuring and consolidation of SUEK's regional coal mining subsidiaries.

Jh ak

(Our editorial staff can be reached at eng.editors@interfax.ru)

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