Kuzbasskaya Toplivnaya Company OJSC (KTK, MICEX: KBTK), one of the largest producers and exporters of thermal coal in Russia, held its annual general meeting of shareholders on May 15, 2015, where it approved the 2014 annual report and financial statements, and elected the Board of Directors.
The shareholders have decided that the net profit for 2014 would remain at the Company's disposal. Dividend for 2014 will not be paid.
As a result of the shareholder voting, Kuzbasskaya Toplivnaya Company OJSC Board of Directors will include the following candidates from the list previously approved by the Board of Directors:
KPMG ZAO has been approved as the auditor of Kuzbasskaya Toplivnaya Company OJSC’s financial statements according to Russian Accounting Standards and IFRS for 2015.
In accordance with the requirements of the latest edition of the Civil Code of the Russian Federation the Charter was amended in the part of the full corporate name of the Company, which was changed to Kuzbasskaya Toplivnaya Company Public Joint Stock Company (PJSC KTK).
Contacts for analysts and investors in Moscow:
Vasily Rumyantsev
Head of Moscow office, IRO
+7 (905) 526-41-71
vkr@oaoktk.ru
Contacts for press in Kemerovo:
Elena Sarycheva
Head of public affairs department
+7 (3842) 36-47-62
es@oaoktk.ru
KTK at a glance:
Kuzbasskaya Toplivnaya Company PJSC (KTK, MICEX: KBTK) is one of the largest manufacturers and exporters of thermal coal in Russia. Production assets of the Company include three current and one projected opent-pit mines in Kemerovo region, two washing plants and own railroad infrastructure located in the same industrial cluster. The Company operates a retail network in four regions of Siberia, supplying over 400 thousand households and over one thousand of public and commercial boilers. The company employs over 4,400 people. Shares of KTK are traded on MICEX, the free float is 34.39%.
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Financial highlights under IFRS:
| in millions of RUB
| 2014 | 2013 | 2012 |
| Revenue | 22 250 | 22 490 | 23 104 |
| Cost of sales | 18 925 | 19 523 | 18 982 |
| Production cash costs per tonne, RUB | 577 | 611 | 690 |
| EBITDA | 2 518 | 2 422 | 3 479 |
| EBITDA margin | 11% | 11% | 15% |
| EBITDA per tonne, RUB | 237 | 239 | 399 |
| Net profit | 7 | 640 | 1 810 |
| Net profit margin | - | 3% | 8% |
| Net debt | 6 101 | 3 917 | 4 681 |
| Net debt / EBITDA | 2,42 | 1,62 | 1,35 |
