On May 13 2013, OJSC "Kuzbasskaya Toplivnaya Company" (RTS/MICEX: «KBTK»), one of the largest producers and exporters of thermal coal in Russia, is pleased to announce operational results for 1 quarter 2013.
Key production results
|
|
Q1
2013
|
% of
total |
Q4
2012
|
Ch.
|
Q1
2012 |
Ch.1
|
|
Coal production, mln. tonnes, incl.: |
2.39
|
|
2.39
|
-
|
2.18
|
10%
|
|
Karakansky South
|
0.77
|
32%
|
0.84
|
-8%
|
0.75
|
3%
|
|
Vinogradovsky
|
0.69
|
29%
|
0.66
|
5%
|
0.37
|
86%
|
|
Cheremshansky 2
|
0.93
|
39%
|
0.88
|
6%
|
1.07
|
-13%
|
|
|
|
|
|
|
|
|
|
Raw coal
|
0.62
|
26%
|
0.81
|
-23%
|
0.39
|
59%
|
|
Sorted coal
|
1.41
|
59%
|
1.38
|
2%
|
1.59
|
-11%
|
|
Washed coal
|
0.36
|
15%
|
0.20
|
80%
|
0.20
|
80%
|
|
Stripping, mln. cbm., incl.: |
14.70
|
|
13.75
|
7%
|
19.29
|
-24%
|
|
Autotruck transportation
|
13.33
|
91%
|
12.49
|
7%
|
18.10
|
-26%
|
|
Non-transportation technology
|
1.37
|
9%
|
1.26
|
9%
|
1.19
|
15%
|
|
|
|
|
|
|
|
|
|
Blasted rock mass3,mln. cbm
|
6.37
|
5.87
|
9%
|
9.54
|
-33%
|
|
|
Average stripping transportation
distance, km |
2.60
|
2.80
|
-7%
|
3.33
|
-22%
|
|
|
Average stripping ratio4 |
6.10
|
|
5.80
|
5%
|
8.86
|
-31%
|
In Q1 2013, the Company produced 2.39 mln. tonnes of coal, which is in line with Q4 2012. Compared with Q1 2012, quarterly production increased by 10%.
The volume of coal sorting increased by 2% compared to Q4 2012 and amounted 1.41 mln. tonnes. Coal washing at the "Kaskad" washing plant increased by 80% compared to Q4 2012 and Q1 2012, amounted 0.36 mln. tonnes. As of the end of quarter, share of processed coal5 amounted 74%.
Stripping volume increased by 7% to 14.70 mln. cbm. The share of low-cost non-transportation stripping increased form 6% in the Q1 2012 to 9% in Q1 2013. Average stripping transportation distance during the last quarter decreased by 7% to 2.60 km. The volume of blasted rock mass amounted 6.37 mln. cbm. which is 9% higher then in the Q4 2012. Avereage stripping ratio increased by 5% Q-o-Q to 6.10 but decreased by 31% Y-o-Y. Stripping ratio will decrease Y-o-Y, according to the production plan.
Key commercial results
|
|
Q1
2013
|
% of
total |
Q4
2012
|
Ch.
|
Q1
2012 |
Ch.6
|
|
Sales volume 7, |
2.38
|
|
2.93
|
-19%
|
2.81
|
-15%
|
|
Export sales volume
|
1.40
|
59%
|
1.49
|
-6%
|
1.61
|
-13%
|
|
Domestic sales volume
|
0.98
|
41%
|
1.44
|
-32%
|
1.21
|
-19%
|
|
|
|
|
|
|
|
|
|
Own coal
|
2.12
|
89%
|
2.44
|
-13%
|
2.17
|
-2%
|
|
Coal re-sale
|
0.26
|
11%
|
0.50
|
-48%
|
0.64
|
-59%
|
|
Average selling price8, |
1,028
|
|
1,269
|
-19%
|
1,352
|
-24%
|
|
Average export price |
900
|
|
1,228
|
-27%
|
1,440
|
-38%
|
|
Average domestic price |
1,211
|
|
1,312
|
-8%
|
1,233
|
-2%
|
In Q1 2013 in comparison to Q4 2012 the results decreased because of thermal coal consumption seasonality in Russia. The major part of thermal coal is used domestically for heating power producing, therefore its demand peaks in Q4 of every year and then starts to fall in Q1 when the heating season comes closer it its end.
Coal sales in Q1 2013 decreased by 19% to 2.38 mln. tonnes. Export sales decreased by 6% to 1.40 mln. tonnes because of decrease of shipments to Eastern Europe. Share of export in total sales rose from 51% to 59%. Coal sales in the domestic market decreased by 32% at the seasonal decline in demand and amounted 0.98 mln. tonnes. The volume of coal re-sale fell by 48% to 0.26 mln. tonnes.
In Q1 2013 the average price of coal decreased by 19% quarter-on-quarter to RUB 1,028 per tonne. Comparing with Q1 2012, average price fell by 24%. The average domestic decreased by 8% to RUB 1,211 per tonne. The average export price decreased by 27% to RUB 900 per tonne.
On May 23, 2013 the Company plans to release its unaudited interim Q1 2013 IFRS Statements. A conference-call to discuss the financial results and to ask the questions will be held the same day at 20:00 PM Kemerovo time (UTC +7:00), 17:00 PM Moscow time (UTC +4:00), 13:00 PM London time (UTC +1:00), 9:00 AM New York time (UTC -4:00).
Conference call details and the presentation will be published separately in investor calendar on the Company’s website: www.oaoktk.ru/investors
Contacts for analysts and investors:
OJSC "Kuzbasskaya Toplivnaya Company", Moscow
Vasily Rumyantsev
Head of Moscow office, IRO
Tel.: +7 (495) 787-68-05
E-mail: vkr@oaoktk.ru
Contacts for press:
OJSC "Kuzbasskaya Toplivnaya Company", Kemerovo Elena Sarycheva
Head of public affairs department
Tel.: +7 (3842) 36-47-62 (Russian only)
E-mail: es@oaoktk.ru
Additional information about the Company and investor calendar: www.oaoktk.ru/en/investors
Company at a glance:
OJSC "Kuzbasskaya Toplivnaya Company" is one of the largest manufacturers9 and exporters of thermal coal in Russia. Production assets of the Company include three current and one projected opent-pit mines, two washing plants located in the same industrial cluster in the Kemerovo region. The company employs over 4,000 employees. Shares of OJSC "Kuzbasskaya Toplivnaya Company" are traded on the RTS/MICEX, the free float is 34.39%.
FY 2012 Financial Highlights under IFRS:
KTK in social networks:
News and announcements (Russian only): www.facebook.com/oaoktk
Presentations: www.slideshare.net/oaoktk
Video: www.youtube.com/oaoktkru
Rounding and errors
Certain numerical figures included in this press release have been subject to rounding adjustments. Accordingly, numerical figures shown as totals in certain tables may not be an arithmetic aggregation of the figures that preceded them. Calculations of change in % are made after rounding of figures.
We make every effort to check and verify the materials, but if you find any errors or inaccuracies please report it to vkr@oaoktk.ru and we will provide you with the correct data and publish any correction notes on the website www.oaoktk.ru.
1 Change, Q1 2013/Q1 2012
2 Including “Kaskad” washing plant
3 Included in stripping
4 Share of coal produced in stripping
5 Sorted and washed coal
6 Change, Q1 2013/Q1 2012
7 Sales for the group of companies, including third parties coal resale
8 Excluding rail tariffs and VAT
9Metal Expert, January 2013
