IFRS net profit of Russia’s SUEK falls 39% to $706 mln in 2019

MOSCOW, Jan 30 (PRIME) -- The net profit of Russia’s Siberian Coal Energy Company (SUEK) plunged by 39.3% on the year to U.S. $706 million in 2019, as calculated under International Financial Reporting Standards (IFRS), the company said in a statement late on Wednesday.

Revenue fell 9% to $7.547 billion mainly due to contraction of global coal prices. Revenue from exports of coal went down 15% to $4.877 billion, with international sales volume falling 3% to 53.8 million tonnes. Earnings before interest, taxes, depreciation, and amortization (EBITDA) shrank by 17% to $2.115 billion.

Operating cash flow of the company rose by 8% in 2019 to $2.059 billion.

For further details, see the company’s statement on its official website:

http://www.suek.com/media/news/suek-announces-financial-results-for-the-full-year-2019-/

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