26 Mar 2013 14:39
Northern Kuzbass has 270 mln ruble net loss in 2012, vs profit in 2011
KEMEROVO. March 26 (Interfax) - OJSC Northern Kuzbass Coal Company, which is part of ArcelorMittal, generated a 270.141-million-ruble net loss to Russian Accounting Standards (RAS) in 2012, compared to a net profit of 756.526 million rubles a year earlier, the company said in its financial report.
Revenue slumped 20% to 6.565 billion rubles.
The company did not disclose the reasons behind its net loss, and Interfax has not obtained any commentary from it.
Key financials for 2012 ('000 rubles):
| 2012 | 2011 | |
| Revenue | 6 565 045 | 8 191 604 |
| Cost of goods sold | 5 292 023 | 4 848 251 |
| Gross profit | 1 273 022 | 3 343 353 |
| Profit from sales | 181 908 | 2 154 457 |
| Profit before tax | 263 888 | 1 314 989 |
| Net profit (loss) | (270 141) | 756 526 |
As of December 31, 2012, Northern Kuzbass Coal Company had 465.342 million rubles in receivables, down 45% over 2011. Long-term liabilities were down 24.5% to 74.297 million rubles, and short-term liabilities were halved to 4.876 billion rubles.
