On March 27, 2015 the document was signed today by Aman Tuleyev, Kemerovo Region governor and Igor Prokudin, KTK's CEO.
The agreement states that Kuzbasskaya Toplivnaya Company OJSC is planning to produce 11 million tonnes of coal in the current year, a 400,000-tonne year-over-year increase (10.6 million tonnes in 2014). The company will invest RUB 500 million in production development, including RUB 360 million on mining- and-transport equipment purchases.The parties have agreed to raise average employee salary by up to 10% as compared to 2014 — to RUB 45,000 (RUB 41,100 in 2014).Tax payments to the consolidated regional budget will amount to RUB 1.047 billion (RUB 664.8 million in 2014). Twenty five million roubles will be spent on work safety.
The company will finance the region's social programs in the amount of RUB 26.6 million. That will include “Miner's day” — RUB 5.5 million, district programs—RUB 10.1 million, new year's gifts for the Kuzbass orphan children — RUB 1 million, social programs in Belovo and Prokopyevsk districts — RUB 4.5 million, financial aid to the Kemerovo region social fund named after V. P. Romanov — RUB 1 million.In 2015 KTK will ship 3.5 tonnes of welfare sized coal, costing RUB 4.5 million, to underprivileged population of Kemerovo region.
“The year 2014 was very difficult for business development across the board. In spite of this all the obligations KTK had took in the 2014 agreement, were fulfilled. We look into future with optimism, and the Company plans to raise coal production in 2015, index wages to our employees, and increase tax payments by 63% as compared to 2014,” said Igor Prokudin, KTK’s CEO.
Contacts for analysts and investors in Moscow:
Vasily Rumyantsev
Head of Moscow office, IRO
Тел.: +7 (495) 787-68-05
E-mail: vkr@oaoktk.ru
Contacts for press in Kemerovo:
Elena Sarycheva
Head of public affairs department
Тел.: +7 (3842) 36-47-62
E-mail: es@oaoktk.ru
KTK at a glance:
Kuzbasskaya Toplivnaya Company OJSC (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 open-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%.
Financial highlights under IFRS:
Additional information about the Company and investor calendar: www.oaoktk.ru/investors
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.
