SUEK-Kuzbass swings to 4.2 bln ruble loss in 2013
KEMEROVO. Feb 3 (Interfax) - OJSC SUEK-Kuzbass 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.