Raspadskaya reports preliminary operation results for 2Q 2009 and 1H 2009, Raspadskaya

Release Date: 2009-07-14

OAO Raspadskaya, one of Russia’s leading coking coal producers, has announced today its preliminary operating results for 2Q 2009 and 1H 2009.

In 2Q 2009, sales volume of coal concentrate was 1,685 kt, up 30% as compared to 1Q 2009, and reached 80% of the pre-crisis volumes.

In the framework of its long-term relationships, Raspadskaya continues its contracts with the Russian consumers, with set quarter prices and sales volumes so that the Company can adjust prices when the situation in the industry improves.

Raspadskaya has partially made a move towards the export markets within its new contracts with large metallurgical companies JFE Holding (Japan) and POSCO (Republic of Korea); it has also started signing contracts for the Chinese market via international trade companies. At present, the exports are ca. 40% of the total sales volume.

“During the difficult period of the downturn in the Russian metallurgical industry, Raspadskaya has solved some difficult export issues and arranged shipments from several port terminals. We’re regarding our current export relationships as a basis for larger contracts for 2010 and the subsequent years.

The sales objectives for 2H 2009 are to increase domestic sales volumes through the stable relationships with Russian customers and current orders for extra shipments of coal concentrate, organizing all the logistic chains for shipments to Asia and to level up the total sales volume of 2009 with that of 2008”, comments Gennady Kozovoy, Raspadskaya’s CEO.

Type:	NORMAL
Company:	Raspadskaya
Country:	Russian Federation