Raspadskaya closes H1 with loss, EBITDA falls 51%

MOSCOW. Aug 9 (Interfax) - Raspadskaya closed the first half of 2024 with a net loss of $99 million, compared to a net profit of $314 million a year earlier, the Russian coal miner said.

The company's EBITDA fell 51% to $213 million from $432 million in the first half of 2023. This was in line with analysts' average forecast of $211 million.

Revenue slumped 19% to $999 million from $1.226 billion a year earlier, and fell slightly short of the consensus forecast of $1.011 billion.

Production of all ranks of run-of-mine coal rose to 9.9 million tonnes in the first half of 2024 from 8.9 million tonnes a year earlier, but sales slipped to 7.1 million tonnes of coal product from 7.4 million tonnes a year earlier.