Raspadskaya coal co could post $254 mln H1 EBITDA
MOSCOW. Sept 16 (Interfax) - Russian coking coal producer Raspadskaya could quadruple earnings before taxes, depreciation and amortization (EBITDA) to International Financial Reporting Standards (IFRS) to $254 million in H1 2010 compared with the same period of last year, analysts told Interfax in a consensus forecast.
This would be 32% higher than for H2 2009.
The analysts forecast net profit before one-off items due to the difficulty estimating the extent of the charges connected with the mine accident in May this year. They said profit before one-off charges might have risen 29% compared with H2 2009 to $165 million. Raspadskaya posted net losses of $11 million in H1 2009.
Sales revenue could have risen almost three-fold compared with H1 2010 to $428 million, and 22.6% compared with H2 2009.
Consensus forecast for Raspadskaya, $ mln:
| Analysts | Sales revenue | EBITDA | Net profit* |
| Credit Suisse | 371 | 238 | 144 |
| Goldman Sachs | 415 | 251 | 170 |
| Morgan Stanley | 438 | 266 | 184 |
| Alfa-Bank | 438 | 255 | 110 |
| Bank of Moscow | 436 | 264 | 182 |
| BrokerCreditService | 417 | 252 | 197 |
| VTB Capital | 425 | 212 | 55** |
| Metropol | 413 | 252 | 151 |
| Renaissance Capital | 452 | 260 | 161 |
| TCB Capital | 434 | 269 | 167 |
| Troika Dialog | 460 | 263 | 155 |
| Uralsib Capital | 436 | 260 | 198 |
| Consensus | 428 | 254 | 165 |
| H2 2009 | 349 | 192 | 128 |
| H1 2010/H2 2009 | +22,6% | +32,0% | +29,2% |
| H1 2009 | 148 | 63 | -11 |
| H1 2010/H1 2009 | +190% | +300% | - |
*) Not including one-off charges
**) Including one-off charges, not included in consensus
It is expected that Raspadskaya will unveil the earnings report on St Petersburg 17. A conference call is scheduled for 5.00 p.m. Moscow time that day.