MMK Group`s Coal Segment Statements for H1 2015
OREANDA-NEWS. The coal segment's total revenue for Q2 2015 amounted to USD 68 million, up 58.1% q-o-q. This growth was due to increase in coal sales following maintenance works at the Company's mines, as well as higher coal sales price.
Revenue for H1 2015 amounted to USD 111 million, down 21.3% y-o-y. This decline was due to decrease in dollar sales prices following a significant rouble devaluation in the end of 2014.
EBITDA in Q2 2015 remained flat q-o-q at USD 19 million. However, EBITDA in H1 2015 increased by nearly 5.5 times y-o-y due to a positive effect of the rouble devaluation on the Company's expenses, as well as growth in domestic prices for coking coal in early 2015.
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