OREANDA-NEWS. May 18, 2011. Avdiivka Coke has reported upbeat financials for 1Q11, reversing from the losses of 2H10. The company’s sales went up by 17.6% qoq to UAH 2.7bn on trailing costs, warranting EBITDA swing to a positive zone (UAH 269mn) after a streak of negative numbers in 2H10. The net profit has staged a dramatic reversal from the loss of UAH 203mn to the UAH 130mn profit in 1Q11.

Millennium Capital: the news is POSITIVE for AVDK UK, as the company has effectively materialized the favorable coke pricing environment without a symmetrical increase in costs.