Net profit of Raspadskaya according to RAS for nine months decreased by 4.4 times

Based on the results of January-September 2023, the net profit of the Raspadskaya coal company according to Russian accounting standards (RAS) amounted to 6.4 billion rubles. Compared to the same period in 2022, when net profit was at the level of 28.24 billion rubles, the figure decreased by 4.4 times, as follows from the reporting on the company’s website (.pdf).

Raspadskaya’s revenue for the first nine months of this year decreased by more than 1.1 times, to 20.75 billion rubles. (versus 23.34 billion rubles in January-September 2022). Gross profit decreased by 1.5 times, to 11.08 billion rubles. (versus 15.75 billion rubles), profit from sales – 1.5 times, to 10.27 billion rubles. (versus RUB 15.08 billion). Pre-tax income fell almost 4 times over nine months, to 8.25 billion rubles. (versus 32.5 billion rubles).

Raspadskaya is the largest producer of coking coals for metallurgy. Its assets are located in Kuzbass. The main shareholder of Raspadskaya is Evraz (93.2%). In 2022, the company produced 21.5 million tons of coal. Net profit of Raspadskaya at the end of last year decreased by 11%, amounting to $782 million. Company shareholders decided not to pay dividends for 2022, explaining this by the “volatile situation” and “a huge number of risks.”